$LSK shut down its layer-2 network and plans to burn 5.2 million LSK
On November 2, blockchain company Lisk shut down Lisk Chain — a layer-2 (L2) network built on $ETH . Founded in 2016, the project moved to it from its own L1 in 2024.
According to the company’s blog, the portal and cross-chain bridge were shut down first, while the remaining components are being phased out. The project will then burn around 5.2 million LSK in unallocated staking rewards. The token itself will continue to circulate on the Ethereum network for future loyalty programs.
The Lisk team is now focused on developing an international financial platform for businesses: setting up accounts and approving payments and transfers in fiat currencies and stablecoins
On November 2, blockchain company Lisk shut down Lisk Chain — a layer-2 (L2) network built on $ETH . Founded in 2016, the project moved to it from its own L1 in 2024.
According to the company’s blog, the portal and cross-chain bridge were shut down first, while the remaining components are being phased out. The project will then burn around 5.2 million LSK in unallocated staking rewards. The token itself will continue to circulate on the Ethereum network for future loyalty programs.
The Lisk team is now focused on developing an international financial platform for businesses: setting up accounts and approving payments and transfers in fiat currencies and stablecoins