lisUSD, issued by the Lista DAO Protocol smart contracts under the governance of LISTA tokenholders, is a decentralized, over-collateralized stablecoin soft-pegged to the U.S. dollar (USD) and minted through a Collateralized Debt Position mechanism [S1][S2][S3].

Each lisUSD tracks one USD without rebasing or NAV accrual; holders mint it by locking crypto collateral including BNB, ETH, slisBNB, wBETH, and BTCB, or 1:1 from USDT and USDC through a Price Stability Module [S1][S2][S3][S4]. Holders earn by single-staking lisUSD, which accrues rewards funded by CDP borrowing interest and LISTA emissions, or by providing pool liquidity [S5][S2]. CDP borrowers pay a governance-set borrowing interest, a 13% liquidation penalty, and a 2% PSM redemption fee [S3][S4].

lisUSD is issued through smart contracts rather than a single corporate issuer, by Lista DAO, a decentralized autonomous organization with no incorporated entity or jurisdiction of formation [S5][S6][S3]. No regulatory authority has examined or approved the information in the Token Documentation [S6]. The holder's claim is a debt position against deposited collateral, not a fund interest, deposit, or security [S1][S2]. Participation is prohibited for residents of the United States, Canada, and the People's Republic of China, with identity verification required when requested [S6]. CDP holders repay borrowing interest to burn lisUSD and release collateral; PSM redemptions carry a 2% fee and a 500,000 lisUSD daily limit [S3][S4].

lisUSD is present on BNB Chain and Ethereum, with core CDP operations on BNB Chain [S5][S7]. Minting occurs via the Interaction contract calling HayJoin's exit() method; repayment burns lisUSD through join() [S3]. Liquidations run as Dutch auctions when collateral falls below the 150% Minimum Collateral Ratio [S7][S3]. Settlement is onchain and atomic per transaction, with pricing supplied by oracles [S7][S3].

<Sources
  retrievedAt="2026-06-23"
  items={[
    { id: "S1", url: "https://lista.org/" },
    { id: "S2", url: "https://docs.bsc.lista.org/introduction/collateral-debt-position-lisusd/lisusd" },
    { id: "S3", url: "https://docs.bsc.lista.org/for-developer/collateral-debt-position/mechanics" },
    { id: "S4", url: "https://docs.bsc.lista.org/introduction/collateral-debt-position-lisusd/lisusd/stable-pool-price-stability-module-psm" },
    { id: "S5", url: "https://docs.bsc.lista.org/" },
    { id: "S6", url: "https://docs.bsc.lista.org/disclaimers/legal-disclaimer" },
    { id: "S7", url: "https://docs.bsc.lista.org/introduction/faq" },
  ]}
/>


Stablecoins

Users deposit collateral and mint lisUSD.

ListaDAO is a stablecoin issuer and asset management protocol built on Ethereum. ListaDAO, previously Helio protocol, was launched in 2022.

ListaDAO's team & investors own and govern the protocol. They currently take a cut of the total interest paid by lisUSD minters.

github

twitter

discord

website

Stablecoin issuers

Lista DAO

Lista USD (lisUSD) is a U.S. dollar stablecoin issued by Lista DAO.

Retail investors can mint and redeem directly with Lista DAO in BNB, ETH, slisBNB, wBETH, BTCB, and lisUSD.

lisUSD has been issued on BNB Chain as an ERC-20 token since August 2022.

Lista USDlisUSD

All metrics