Lisk Prepares Full Shutdown After 10 Years, Proposes Burning 100M LSK
TL;DR
- Lisk plans to shut down its blockchain on October 31, 2026, ending roughly a decade of operating its own network.
- A DAO proposal would burn 100 million LSK, reducing total supply from 400 million to 300 million.
- LSK held on Lisk Chain must be bridged to Ethereum before closure, while the project shifts its focus toward a business finance platform.
Lisk is preparing to close its blockchain on October 31, 2026, marking a major change for a project that has operated in the crypto sector for about a decade. The network will no longer serve as the foundation of the project as Lisk redirects resources toward software for business finance.
The restructuring also includes a proposed 25% reduction in LSK supply. The Lisk DAO proposal would burn 100 million LSK from treasury allocations, taking the maximum supply from 400 million to 300 million tokens. That move removes tokens that were previously scheduled to enter circulation through future vesting.
The decision follows several changes in Liskโs long-term strategy. The project originally launched as a Layer-1 blockchain before moving toward an Ethereum Layer-2 model in 2023. Lisk now says its new direction centers on a finance platform designed for businesses, with stablecoins, payments and financial operations becoming more important to the product.
โฆ Continue reading the full article at the original source below.
