Closure of the old Lisk network and the platform’s complete transition: here are the details and the impact on the $LSK token
The Lisk network has officially announced the complete closure of its old chain, including the Lisk Portal and Lisk Bridge, after a 10-year run. This move is part of the transition to the new Lisk platform as a modern financial platform for businesses that brings together fiat currencies and stablecoins.
What impact will this have on the $LSK token?
Token continuity: $LSK will continue as the network’s Loyalty Token on the Ethereum network.
Supply burn: Approximately 5.23 million unallocated $LSK tokens held in the staking rewards pool will be burned, further reducing the total circulating supply and supporting scarcity, which may create buying pressure and thus drive up the token’s price.
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