We often see various tokens making promises, but few can truly put value into investors' pockets. Today, let's talk about LISTA and clarify its story.

First, let's discuss governance. As a governance token, LISTA holders can indeed vote on key protocol parameters. But there's a practical issue—if not many participate, governance becomes a mere formality. The real value still depends on economic incentives.

The core mechanism of LISTA is: the protocol earns money from various activities, then uses these revenues to buy back and burn tokens. It sounds perfect, but it's crucial to ask two questions.

First, where does the money come from? LISTA DAO's income mainly comes from stability fees in the lending market and premium income from liquidations. This isn't subsidized out of thin air; it's generated by real financial activities, which provides confidence. Second, how is the money spent? The protocol needs to balance incentivizing users and rewarding token holders. The community has proposed several reform plans to make revenue distribution more flexible, using it to build the ecosystem and reward veLISTA holders, ensuring sustainable value flow.

The most impressive feature is the deflationary design. One proposal plans to permanently burn 20% of the total token supply in one go, significantly increasing scarcity. Coupled with mechanisms like staking LISTA to earn yields, circulating supply will be continuously reduced. These are strong measures.

Therefore, the value of LISTA is not a castle in the air. It rests on three foundations: the protocol's real income, proactive deflationary measures, and continuously optimized distribution methods. Of course, the ecosystem needs to keep expanding to grow revenue sources. But what’s most promising is that this project is willing to put forward tangible proposals—like large-scale burns—to safeguard long-term value. This pragmatic attitude is what makes it worth following.