DeFi

Binance Announces Upcoming Support for New DeFi Altcoin on Megadrop Token Launch Platform

Published

8 months ago

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Crypto exchange Binance has just revealed the second digital asset that will be supported on its new token launch platform.

In April, the crypto titan launched Binance Megadropa Web3 airdrops and quests platform that allows users to quickly access assets not yet listed on its exchange.

The first crypto project on the token launch platform is native Bitcoin (BTC) takeover of the BounceBit channel.

In a new statementBinance claims that Megadrop will now feature the open source liquidity protocol asset Lista (LISTA).

List said it allows users to earn returns on collateralized crypto assets such as BNB and stablecoins and borrow the project’s Lista USD (lisUSD), a new type of asset known as “destablecoin” that uses decentralized and liquid crypto assets as collateral only.

Lista’s destablecoin is not designed to achieve absolute price stability with fiat currencies, but it is also not intended to be a completely volatile asset.

“The intention behind Lista DAO is to provide a solution to the capital efficiency problem related to the oversized stablecoin experience by allowing users to leverage their funds with a Collateral Debt Position (CDP).”

Lista says it is native to the BNB chain ecosystem, but plans to expand to multiple chains.

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