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Helio, one of the largest decentralized finance (DeFi) ecosystems on BNB Smart Chain, shares the details of its transformation plan. The company is set to operate as Lista DAO while its staking design will be rewritten from scratch.
From Helio Money to Lista DAO
Per the official announcement of its team, Helio is bidding farewell to the familiar names of Helio Protocol and Synclub, and introducing Lista DAO as a new concept and brand for the ecosystem. This strategic change is accompanied by consolidating its Collateralized Debt Position (CDP) and Liquidity Staking DeFi (LSDfi) offerings into a cohesive vision to build the largest and most advanced stablecoin in the segment of liquid staking.
As a part of the migration toward a new brand name and vision, the protocol's main soft-pegged "destablecoin," HAY, and BNB Liquid Staking Token (SnBNB) will be renamed to lisUSD and lisBNB, respectively. Helio Protocol's unreleased governance and ecosystem token HELIO will therefore be issued as LISTA in the coming months.
Helio Protocol's social media platforms will undergo a complete rewrite to align with the new identity. Despite massive rebranding, Helio Protocol's validator node, Synclub, will retain its name until further notice.
Last but not least, very soon Helio Protocol will unveil details about a new points accrual system for the LISTA airdrop, themed as the "Cosmic Adventure Challenge." The challenge aims to offer the community an additional opportunity to obtain a share of the LISTA token.
New model of liquidity management
Helio Protocol, initially introduced as a fork of the oldest DeFi MakerDAO, is transitioning toward a new chapter, leveraged on the Liquity codebase. This step is designed to position Lista to become a more streamlined, accessible and easy-to-use CDP and LSDfi protocol on the market.
The team envisages two phases for the transition. First, it is set to launch a novel Ethereum-based decentralized application on lista.org, alongside the continued operation of the "initial" BSC-based dApp on helio.money. The official project name will shift to Lista, and the team will be recognized as Lista across all platforms.
Then, the team and community will proceed to consolidate legacy dApps into lista.org, adopting the Liquity codebase on both the BSC and Ethereum blockchains. The completion of this phase will offer users a unified platform for borrowing lisUSD, staking and liquid staking, and is set to be complete in Q1 of 2024.
Expansion to Ethereum (ETH) is in the cards
As such, despite the profound rebranding campaign, the team remains committed to one of its core roadmap goals, i.e., migration to Ethereum (ETH), the largest smart contracts platform.
Lista DAO is set to launch on Ethereum (ETH) concurrently with its introduction, marking a significant step toward becoming the number one decentralized stablecoin lending protocol in the crypto industry.
The Ethereum-based dApp will initially support Ether (ETH) as collateral, with a borrowing fee of 0.5% and a minimum collateral ratio of 110% for greater stability of the entire system.
Migration toward Lista is set to begin as soon as mid-December. The new product is poised to take a dominant position in the sphere of liquid staking and a new generation of decentralized stablecoins.
Alex Dovbnya
Denys Serhiichuk
Tomiwabold Olajide
