Once, VCs relied on cheap chips to influence project progress; now, the landscape has reversed. In the Lista DAO ecosystem, a governance power shift is underway. To gain liquidity support, project teams must offer incentives to veLISTA holders. This is not only a redistribution of power but also an opportunity for market participants to earn tangible rewards.

【New Landscape of Liquidity Competition】

On BNB Chain, liquidity depth determines the survival space of protocols. Lista DAO controls a liquidity reserve of tens of billions of dollars in slisBNB, which means it holds the key to resource allocation.

Whether a newly launched protocol can obtain liquidity support depends on the tilt of governance votes. This means veLISTA holders effectively have decision-making power—supporting or opposing projects directly impacts their fate. Project teams understand this very well: without securing veLISTA support, it’s difficult to stand out in the competition.

【Incentive Mechanism (Bribes): Actual Revenue Channels】

To secure voting support, project teams commonly distribute incentives. These incentives are not a new concept, but in today’s DAO ecosystem, they have become a systematic source of revenue. veLISTA holders regularly receive incentive distributions from various projects, which serve as tangible returns for token holders.

This model changes the previous passive holding scenario. Now, holders can participate in governance votes to earn additional rewards. Market participants shift from spectators to decision-makers, transforming from passive recipients to active profiters.

【Practical Significance】

This shift reflects the gradual evolution of decentralized governance. Changes in power structures enable community participants to gain more substantial economic incentives, and the improvement of incentive mechanisms recognizes token holders’ contributions. As more protocols adopt similar models, this participation-incentive cycle is expected to become the standard operating method in the Web3 ecosystem.