Lista DAO (LISTA), a decentralized stablecoin lending protocol that completed its token airdrop on June 20, has soared 37%.
The price of LISTA soared from $0.565 to highs of $0.84 across major exchanges. It’s a performance that sees the LSDfi-powered protocol’s native token rank among the top gainers in the past 24 hours.
Lista DAO’s surge also contrasted with massive sell-offs for LayerZero (ZRO), Beercoin (BEER) and Iggy (MOTHER), which all trading more than 20% down in the past 24 hours.
As highlighted, LayerZero’s price is dropping amid selling following its airdrop on June 20.
Why is LISTA price surging?
On June 20, multiple crypto exchanges listed LISTA for trading following its airdrop. These included Binance, Gate.io, Bitget and MEXC, support that helped add to the buoyancy witnessed since the token’s trading debut.
While these exchanges had all initiated various campaign initiatives ahead of LISTA’s listing, Lista DAO also got a major boost from DWF Labs, a top Web3 investor and market maker.
According to Spot On Chain, DWF Labs received 10 million LISTA prior to the token’s listing on CEXs.
The firm transferred these tokens to different exchanges, including 2.5 million to Bitget, 2 million to Binance and 1.5 million to MEXC. DWF Labs also transferred 850,000 LISTA to Gate.io and KuCoin respectively.
With visibility and likely rising demand across the ecosystem, its possible LISTA price may yet trade higher and see bulls aim for $1. However, the initial volatility might also see Lista DAO’s price slump amid selling.
Lista DAO TVL soars
As noted, Lista DAO offers a decentralized stablecoin and liquid staking protocol. In this case, Lista DAO works with a dual-token ecosystem – there’s the utility token LISTA and the decentralized stablecoin lisUSD.
Users can stake tokens or borrow using the decentralized stablecoin lisUSD, with yield on collateralized crypto assets such as BNB and ETH.
Earning yield is also a feature available for stablecoins. The maximum supply for LISTA is 1 billion, and the initial circulating supply is 230 million.
According to data from Dune, Lista total value locked (TVL) accounting for liquid staking TVL and stablecoin lending TVL has increased significantly since February this year. The total TVL was $204 in early February.
However, it currently stands at more than $537 million after reaching $566 million before Lista DAO’s TGE.
In terms of BNB staking, TVL currently stands at $231 million, slightly down from $238 million. Dune data shows nearly 395,000 BNB staked.
Meanwhile, collateral TVL jumped to over $309 million pre-airdrop and hovered around $301 million at the time of writing.
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