Lisk to shut down chain on Oct. 31, pivot to enterprise payments

Lisk, a first-generation blockchain project launched in 2016, will cease operations of its chain on Oct. 31 after 10 years. The project will transition to focus on enterprise treasury management and payment solutions. Any LSK tokens remaining on the Lisk chain after this date will be permanently inaccessible. Users holding or staking LSK on the current chain must bridge their assets to Ethereum using Superbridge or Lisk Bridge. The foundation plans to burn 100 million LSK, which is 25% of the total supply, reducing the maximum supply from 400 million to 300 million. The token will be reclassified as a loyalty token, offering usage rewards and benefits within the new enterprise platform.