In the realm of liquidity staking derivatives (LSDFi), players face a perennial yet unresolved question: how can returns and risks be properly aligned?

The reality is that most people are either attracted by high annualized yields and blindly leverage up, only to be liquidated in one sweep; or they simply stake passively, watching their returns be eroded by inflation. This is not just a psychological game; the entire industry has yet to find a scientific method to price risk.

What is the common phenomenon in the market? Some projects use uniform high incentives to package products of different risk levels, making it impossible to distinguish which parts are truly safe and which hide risks. Others abandon fine-grained management altogether, relying solely on collateralization ratios to control risk—resulting in users either becoming too cautious and missing out on yields or lacking risk awareness and falling into traps.

This coarse approach not only harms ordinary users but also limits the scalability of the entire industry.

The turning point comes from the practice of ListaDAO. Instead of blindly stacking high-yield products, it has taken a more refined approach—by designing scenario-based risk pricing, linking core tools like slisBNB, lisUSD, and clisBNB to specific risk levels. People with different risk appetites can choose products and yield ranges according to their needs, avoiding the pitfalls of yield-risk mismatches while enabling sustainable ecosystem growth.

The significance of this idea lies in its representation of a shift in LSDFi from "speculating on market trends" to "controlling risks"—from passively enduring market volatility to actively designing risk frameworks. This evolution is profoundly meaningful for those who want to participate in this market long-term.