Cross-Chain Expansion: Where is USD1's Next Battleground? Opportunities and Pitfalls of Multi-Chain Strategies Trapped on the BNB chain, USD1 will forever remain a "local currency." But how can it compete with established "local players" on multiple chains? Industry Expert Analysis: The ultimate battleground for stablecoins is multi-chain interoperability and the integration of fragmented liquidity. For Lista to establish USD1 as a widely used stablecoin, cross-chain deployment is essential. A potential path is to choose public chains with high user overlap with the BNB chain and a thriving DeFi ecosystem, such as Arbitrum and Polygon. Risk Integrity Analysis: Multi-chain strategies are fraught with pitfalls: 1. Cold Start Dilemma: New chains lack a user base and liquidity, requiring huge incentives (consuming the national treasury $LISTA) to guide them, which may be counterproductive. 2. Security Boundary Expansion: Each additional chain increases the risk of attacks on cross-chain bridge smart contracts; a single major security incident can destroy the reputation of all chains. 3. Soaring Governance Complexity: Parameter adjustments, risk management, and yield strategies across different chains may require differentiated management, posing a significant challenge to DAO governance capabilities. Key Data Anchor: Assessing the success of a cross-chain strategy requires more than just looking at the number of chains deployed; it should focus on the "percentage of USD1 circulating supply on non-native chains" and "its liquidity depth in target chain stablecoin trading pairs." If the majority of supply remains concentrated on the BNB chain, the multi-chain strategy has not yet succeeded. Independent Viewpoint: For Lista, a more pragmatic multi-chain strategy might be "borrowing a boat to cross the sea"—deeply integrating with mature lending or DEX protocols on target chains, encapsulating slisBNB as a local asset, or directly allowing mainstream local LSDs (such as stETH) as collateral to mint USD1. This is more efficient than building a complete product from scratch. Do you think a DeFi protocol should focus on deepening its parent chain ecosystem or deploying multiple chains as early as possible? Which carries greater risk? @lista_dao #BestUSD1InvestmentStrategyListaDAO $LISTA