Seeing Lista DAO officially call lisUSD a Destablecoin, at first glance, it does seem quite shocking. Destable? It sounds like an unstable synonym—who would use an unstable stablecoin?

But upon closer thought, this might be the most honest marketing statement I've seen in the crypto space. It exposes an industry-wide unspoken game: if you want absolute stability, you have to sacrifice decentralization; conversely, if you want true decentralization, you need to be prepared for price fluctuations.

Let's first look at why USDT can always stay firmly anchored at 1 USD. Essentially, it's because behind it, Tether has USD reserves stored in traditional banks. The company says it's worth 1 dollar, so it is worth 1 dollar. But this stability comes at a cost—the Tether can freeze your wallet at any time, and a call from regulators can turn it into zero. What is this then—crypto? In essence, it's just moving fiat onto the chain.

In contrast, lisUSD positions itself as a Destablecoin, which actually inherits the philosophy of early DAI. The logic is simple: unlike USDT, which guarantees to always stay at 1.0000 USD, the price of lisUSD is entirely determined by market supply and demand and protocol interest rates.

When selling pressure is high, it might drop to 0.99; when borrowing demand is strong, it might rise to 1.01. These seemingly small fluctuations actually reflect a real and effective market. No centralized institution intervention, no hidden knives of frozen addresses—that's how cryptocurrency should be. Stability and decentralization have always been a trade-off. Whatever side you choose, you must accept the cost of the other.