Lisk is permanently abandoning its blockchain to transform into a financial management platform for multi-entity businesses. The Lisk Chain will cease operations on October 31, and 100 million LSK tokens, representing 25% of the total supply, will be burned. The team has partnered with Celo Core Co. to organize the migration of developers to the Celo ecosystem, which itself became an Ethereum Layer 2 in March 2025. The LSK token, trading around $0.09 at the time of the announcement, will become a loyalty token allowing enterprise users to receive rewards and pay fees on the platform. Base, Coinbase’s Layer 2, will become the primary supporting network for LSK alongside Ethereum.
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