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

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

In April, the crypto titan launched Binance Megadrop, a platform with airdrops and Web3 quests that gives users early access to assets that are not yet listed on its exchange.

The first crypto project on the token launch platform is the native Bitcoin (BTC) restaking chain BounceBit.

In a new statement, Binance says Megadrop will now feature the asset of open-source liquidity protocol Lista (LISTA).

Lista says it enables users to earn yields 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-staked crypto assets as collateral only.

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

“The intent behind Lista DAO is to propose a solution to the capital efficiency problem of overcollateralized stablecoins 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 it has plans to expand to multiple chains.

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price ActionFollow us on X, Facebook and TelegramSurf The Daily Hodl Mix

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

The post Binance Announces Upcoming Support for New DeFi Altcoin on the Megadrop Token Launch Platform appeared first on The Daily Hodl.