breakthroughs revealed by both experimental and theoretical works. In recent reports, anionic redox can be activated in layered cathodes by A-L-A configuration, [1] where L stands for ligands and A stands for alkali metals, alkaline-earth metals, vacancies, or other elements with little hybridization with ligand orbitals. Ligands, mostly oxygen, are designed with nonbonding p electrons under A-L-A configuration to participate in charge compensation processes. However, from band structure intuition, cationic and anionic redox processes can be arranged by selecting different metal-ligand combinations without the existence of A-L-A configuration. Within the framework of Zaanen-Sawatzky-Allen model, [2] defining the Mott-Hubbard U and charge-transfer energy Δ, the metal-ligand combinations in layered cathode can be classified into three categories: U/2 < Δ, U/2 > Δ, and U/2 ≈ Δ. Mott-Hubbard U denotes the d-d Coulomb and exchange interactions of electrons, while Δ denotes the charge-transfer energy from the top of anion p valence band to Fermi level. In following parts, for convenience, we use transition metal (TM) d bands to represent TM(nd)-ligand(np) hybrid orbital mainly contributed by TM (nd), and vice versa.When U/2 < Δ, the energy level of occupied TM d band is higher than ligand valence p band, electrons will be firstThe increasing demand for energy storage is calling for improvements in cathode performance. In traditional layered cathodes, the higher energy of the metal 3d over the O 2p orbital results in one-band cationic redox; capacity solely from cations cannot meet the needs for higher energy density. Emerging anionic redox chemistry is promising to access higher capacity. In recent studies, the low-lying O nonbonding 2p orbital was designed to activate one-band oxygen redox, but they are still accompanied by reversibility problems like oxygen loss, irreversible cation migration, and voltage decay. Herein, by regulating the metal-ligand energy level, both extra capacities provided by anionic redox and highly reversible anionic redox process are realized in NaCr 1−y V y S 2 system. The simultaneous cationic and anionic redox of Cr/V and S is observed by in situ X-ray absorption near edge structure (XANES). Under high d-p hybridization, the strong covalent interaction stabilizes the holes on the anions, prevents irreversible dimerization and cation migration, and restrains voltage hysteresis and voltage decay. The work provides a fundamental understanding of highly reversible anionic redox in layered compounds, and demonstrates the feasibility of anionic redox chemistry based on hybridized bands with d-p covalence.