Take MakerDAO on Ethereum. TVL consistently stays above $5 billion, MKR market cap is in the billions, solidly playing the role of an on-chain "central bank."
Now look at lisUSD. BNB Chain is the most active public chain globally by user engagement. After BUSD exited, it's been lacking a respectable decentralized stablecoin. That's the gap lisUSD is meant to fill.
Currently, Lista's TVL is around $500 million, but what about market cap? Still lying on the floor. Experience for yourself just how big this "market cap gap" is.
Suppose lisUSD reaches one-tenth of DAI's scale—what would $LISTA's price be then? Pull out your calculator and do the math.
BNB chain's financial ecosystem can't keep relying on other people's foundation. What Lista is doing is the "decentralized central bank" business. For this kind of infrastructure-level project, the ceiling is incomparably higher than those short-term projects.
Don't underestimate the wealth-creation capability of the BNB ecosystem. This is the long-term logic.
The floor has been lying there for so long without anyone buying the dip, which shows the market still has doubts...
One-tenth of DAI? That's quite the ambitious plan, but the key question is how to extract value from it.
The BNB ecosystem definitely has imagination, but can Lista really pull off the "central bank" role? We'll have to see how TVL grows.
The central bank business sounds impressive, but the question is whether users will actually buy in.
Really? With such a good opportunity, how come the market cap is still lagging?
In this circle, it's all about valuation.
Take MakerDAO on Ethereum. TVL consistently stays above $5 billion, MKR market cap is in the billions, solidly playing the role of an on-chain "central bank."
Now look at lisUSD. BNB Chain is the most active public chain globally by user engagement. After BUSD exited, it's been lacking a respectable decentralized stablecoin. That's the gap lisUSD is meant to fill.
Currently, Lista's TVL is around $500 million, but what about market cap? Still lying on the floor. Experience for yourself just how big this "market cap gap" is.
Suppose lisUSD reaches one-tenth of DAI's scale—what would $LISTA's price be then? Pull out your calculator and do the math.
BNB chain's financial ecosystem can't keep relying on other people's foundation. What Lista is doing is the "decentralized central bank" business. For this kind of infrastructure-level project, the ceiling is incomparably higher than those short-term projects.
Don't underestimate the wealth-creation capability of the BNB ecosystem. This is the long-term logic.