Recently, I came across an interesting comparison: traditional international cooperation is often defined by the dominant power, while in the crypto world, some projects are building collaboration networks using a completely different logic.

Take Lista DAO on BNB Chain as an example; its governance approach is quite unique. It doesn't rely on power or capital; "voting power" comes from locking the $LISTA governance tokens. What are the benefits of this mechanism? First, the rules are transparent and tamper-proof—thanks to open-source smart contracts, all parameter adjustments are made in the open, and no one can unilaterally change the game rules.

Recent on-chain upgrades are worth noting: lending interest rates have been pushed down to very low market levels, effectively setting a fair cost of capital for all participants. At the same time, it has integrated real-world assets (RWA) such as US Treasury bonds, providing users with verifiable and stable income sources.

For lock-in participants, the benefits are twofold—they can share in the protocol's growth (currently about 38.8% annualized incentives) and participate in voting to decide key parameters. This tightly couples interests and rules, forming a true community governance system rather than a centralized top-down decision.

Its future plans are also quite interesting, aiming to expand to Ethereum and support more asset types. This is more like connecting independent autonomous nodes to gradually build a larger decentralized collaboration network. Whether this approach can become a new paradigm for future financial organizations remains to be seen, but it at least proves that code and mathematics can also write a "covenant."