Unlocking New DeFi Opportunities for BNB Holders by Chainwire

Toronto, Ontario, October 8th, 2024

clisBNB, created by Lista DAO, introduces a dynamic tool that enhances flexibility and control for BNB holders. This new offering is accessible through a comprehensive on-chain platform designed to bridge Centralized Finance (CeFi) and Decentralized Finance (DeFi). clisBNB provides BNB holders with an innovative approach to engage with Binance launchpool and Lista DAO’s Collateralized Debt Position (CDP).

Understanding BNB.xyz

BNB.xyz is a unified staking platform built on BNB Chain, with essential contributions from Lista DAO and Pancakeswap. This platform serves as a hub for users looking to navigate the realms of DeFi and CeFi, delivering competitive Annual Percentage Rates (APRs), robust security, and unique features including strategic APY comparisons and notifications for Binance Launchpool events. Plans for potential integrations with major trading platforms are also on the horizon.

What is clisBNB?

clisBNB represents a certificate token that users receive when depositing BNB into a CDP managed by Lista DAO. The issued clisBNB is directly pegged at a 1:1 ratio to the amount of BNB staked, ensuring a transparent linkage between the token and the underlying BNB asset. This feature enables users to maintain control over their collateral while still gaining access to a variety of DeFi opportunities.

The Utility of clisBNB

Originally intended to allow users to borrow lisUSD against their BNB collateral on Lista DAO, clisBNB also facilitates participation in Binance launchpool events. Holders of clisBNB in their Binance Web3 MPC wallet can utilize their BNB to engage in exclusive token launches without the need to close their debts within Lista DAO. This dual functionality enhances the utility and adaptability of their BNB assets within a single, streamlined product.

Key Features of clisBNB

clisBNB presents notable features that set it apart from other tokens while safeguarding user assets:

1. 1:1 Ratio with BNB: Users receive clisBNB tokens at a 1:1 ratio to BNB deposited into a CDP, ensuring straightforward tracking of collateral.

2. Non-transferable Token: clisBNB cannot be moved or transferred between wallets or users once issued, and remains linked to the user’s original BNB deposit, enhancing security and focused application.

3. Automatic Burn Upon Withdrawal: When users withdraw their BNB or corresponding slisBNB from the CDP, clisBNB is automatically burned, maintaining an exact representation of the BNB amount in the user’s position.

4. Minting to Another Address: Users can specify an alternate address for minting clisBNB at the time of deposit. However, once assigned, the clisBNB becomes non-transferable to any other wallet, allowing for strategic delegation in actions related to another wallet.

   Restrictions Include:

   • Only one address can be designated for receipt of clisBNB upon deposit.
   • Any clisBNB minted to a secondary address is automatically destroyed if the underlying BNB or slisBNB is withdrawn.

How to Acquire clisBNB

Accessing clisBNB is simple: users can deposit their BNB into a CDP on Lista DAO’s platform, automatically receiving clisBNB in return. To ensure access to Binance Launchpool events, users must utilize the Binance Web3 MPC wallet, which allows for smooth interaction with staked BNB during these events.

clisBNB: Unlocking Liquidity for BNB Holders

With clisBNB, BNB holders can efficiently unlock liquidity, borrow lisUSD, and engage in Binance launchpool events, all while retaining access to their collateral. By significantly enhancing the utility and flexibility of staked BNB, clisBNB marks a considerable advancement in the DeFi landscape for BNB users.

In summary, clisBNB equips BNB holders with a powerful tool for managing collateral, participating in launches, and tapping into DeFi opportunities seamlessly and securely.