The liquid staking track on BNB Chain has seen many interesting projects over the past two years, but this one I recently noticed has truly eye-catching data. Originally Helio Protocol, it later merged with Synclub, and now positions itself as an all-in-one DeFi protocol with main strategies centered around liquid staking and over-collateralized lending.

You can gauge the popularity from the data — TVL growth reached 520% in 2025, hitting a peak of $4.3 billion in scale, solidly holding the top 2 position on BNB Chain. Even more impressive is the liquid staking market, where it captured over 60% market share, with locked BNB exceeding 1.25 million. This scale isn't just hype.

How does the product line work? The core breaks down into three parts. First is the staking layer — depositing BNB generates slisBNB vouchers with static yields in the 8.95%-12% APY range, and crucially, this voucher itself can be traded with strong liquidity. Second is lending, where an over-collateralization mechanism allows minting lisUSD stablecoin, accepting multiple assets like BNB, ETH, weETH as collateral, with relatively controllable risk management. Third is governance, where veLISTA tokens bind voting rights and dividends, plus phased airdrops, adding attraction.

As for yield strategies, this is what players really care about. The conservative side can choose RWA products with 3.5%-4.71% annualized returns, prioritizing stability. Those wanting slightly more yield can look at PSM pools with 7%-12% APY, already solid returns in DeFi. On the aggressive end, Vaults strategies can deliver 18% annualized returns, but with correspondingly higher risk, suitable for experienced participants.

On the technical foundation, core contracts are audited by third parties, ecosystem partnerships are well-established, with integration across mainstream DEXs, and user interface localization is thoughtfully executed. Multi-chain expansion is also underway, with suitable dock solutions available for both individual and institutional users.