Lista USD (LISUSD): What It Is, Uses and Risks

Lista USD (LISUSD) is a crypto-backed stablecoin that aims to hold a value of one US dollar. It is issued on BNB Chain and belongs to the Lista DAO protocol, which combines liquid staking with a borrowing system. Lista's documentation describes lisUSD as a decentralized stablecoin that is over-collateralized by crypto assets such as BNB, ETH and slisBNB, which is Lista's liquid staked BNB token.

In practice this means lisUSD is not backed by dollars in a bank account. It is created when a user locks up crypto in the protocol and borrows against it. The value of the locked collateral is meant to exceed the value of the lisUSD issued, which is the safety buffer behind the peg.

The data for this page also carries a project description from Helio Protocol, which described a similar over-collateralized stablecoin called HAY, backed by BNB. That suggests lisUSD sits in the same project lineage, though readers should check Lista's own documentation for the current design. At the time of writing, it ranks around 333 by market cap.

The main job of lisUSD is to be a stable unit of account inside DeFi on BNB Chain. A user deposits supported collateral, borrows lisUSD against it, and can then spend, swap or deploy that lisUSD elsewhere while still holding exposure to the collateral asset.

Public descriptions of the protocol point to several uses: borrowing against staked assets, earning yield or liquidity mining rewards with the stablecoin, and moving value between applications without exposure to the price swings of BNB or ETH. Lista positions this as a stable credit system that lets people keep the liquidity of staked assets working.

lisUSD is separate from LISTA, the protocol's governance token. According to Lista's docs, LISTA gives holders voting rights over the platform's direction, and staking it can earn veLISTA, which connects to profit sharing. lisUSD itself is the borrowed asset, not a governance or profit token.

Because the project's materials do not list every integration here, check Lista's current documentation for which pools and apps accept lisUSD.

lisUSD has no fixed maximum supply. Like other crypto-backed stablecoins, its supply grows when users borrow and shrinks when they repay. The data lists no max supply, and the circulating and total supply are the same figure, about 74.3 million tokens as of 2026-11-05.

At that supply and a price near $0.998, the market capitalization is about $74.1 million, and the fully diluted value is the same figure because circulating and total supply match. Reported 24-hour trading volume was only about $82,113 at the time of writing, which is small relative to market cap. Much of a stablecoin like this tends to sit in the protocol, in liquidity pools or in user wallets rather than trade actively on exchanges.

There is no emission schedule, vesting or token sale attached to lisUSD itself, since it is minted against collateral rather than distributed. The tokenomics that involve rewards, staking and governance belong to LISTA rather than to lisUSD. Supply figures change constantly, so treat these numbers as a snapshot.

According to the data, lisUSD is issued on BNB Chain and is not the native token of any blockchain. Holders typically keep it in a wallet that supports BNB Chain tokens, and the same address format as other BNB Chain assets applies. Moving it to another network usually depends on bridges or other infrastructure, which the data here does not detail.

In general terms, people obtain lisUSD in one of two ways. They can mint it by borrowing in the Lista protocol with approved collateral, or they can buy it through decentralized exchanges and liquidity pools on BNB Chain. Availability on centralized exchanges is not confirmed, so check the venue you plan to use before assuming a listing.

Because trading volume is low, liquidity can be thin. Swapping a large amount may move the price a little more than a high-volume stablecoin would. The price at the time of writing was about $0.9978, with a seven-day change of roughly +0.2% and a one-year change of roughly -0.04%, which is consistent with a token that mostly stays near its peg.

The data does not give a launch date for lisUSD, so none is stated here. What is publicly known is that the lineage runs through Helio Protocol, an open-source liquidity protocol on BNB Chain that issued the BNB-backed HAY stablecoin. Its description mentioned a plan to become a DAO governed by a community through a governance token. Lista DAO now documents lisUSD as its stablecoin and LISTA as its governance token.

The tracked data shows an all-time high of $2.00 on 2022-08-25 and an all-time low of about $0.2086 on 2022-12-01. For a token meant to be worth $1, those readings are far outside the peg. They may reflect thin early trading, data quirks or a real depeg episode, and the data does not explain which. Treat them as a caution rather than a verified timeline.

The token also appears in BNB Chain ecosystem and DeFi categories, and one category lists it under the portfolio of YZi Labs, previously Binance Labs. Beyond that, readers should consult Lista's announcements for a reliable history.

Over-collateralized does not mean risk-free. The main risks for lisUSD are these:

• Collateral risk. If BNB, ETH or other collateral falls sharply and fast, the system must liquidate positions to protect the peg. Severe market stress or poor liquidation conditions could pressure the stablecoin.
• Smart contract risk. The protocol runs on code. Bugs, exploits or faulty integrations could cause losses even with audits.
• Depeg risk. Crypto-backed stablecoins can trade away from one dollar, especially with thin liquidity. The historical extremes in the price data show this has happened at some point.
• Liquidity risk. Daily volume of roughly $82,000 is low, so large trades may face slippage.
• Governance and dependency risk. Collateral types, fees and parameters can be changed by governance, and some collateral, such as slisBNB, depends on other protocols working properly.
• Borrower risk. If you borrow lisUSD, your collateral can be liquidated if its value falls too close to your debt.

Nothing here is a recommendation to buy or sell. Do your own research and only risk what you can afford to lose.

lisUSD is a standard BNB Chain token, so any wallet that supports that network can hold it. You may need to add the token manually using its verified contract address from Lista's official documentation. Avoid copying addresses from social media posts, search ads or messages, since fake tokens with the same name are common.

For larger balances, a hardware wallet paired with a software interface gives more protection, because your private keys stay on the device. Write down your recovery phrase on paper, store it offline, and never type it into a website or share it with anyone, including anyone claiming to be support.

When interacting with the Lista protocol or any decentralized exchange, check that you are on the correct site, read each transaction before signing, and review token approvals regularly. Revoke permissions you no longer use. Keep a small amount of BNB for network fees.

If you borrow lisUSD, monitor your collateral ratio, since a falling collateral price can trigger liquidation. Using a separate wallet for DeFi activity limits the damage if something goes wrong.