Lisk Launches Burn of 100 Million LSK, Total Supply Reduced to 300 Million

The Ethereum L2 network Lisk has initiated the burn of 100 million LSK tokens, reducing the total supply from 400 million to 300 million after the burn is completed. This burn is a result of a DAO proposal that was approved, targeting tokens originally allocated to the Lisk DAO treasury from 2027 to 2033 (15 million tokens per year from 2027 to 2032, and 10 million tokens in 2033). Lisk stated that project and ecosystem growth activities will be fully funded by the Onchain Foundation, allowing for the destruction of a significant portion of the tokens in the DAO treasury. This move will greatly compress the total supply of LSK and reduce ongoing selling pressure. Additionally, Lisk Chain will close on October 31, and users holding funds must bridge their assets to Ethereum before this date. The bridging process takes about 8 days, and there is an additional 3-day waiting period for unlocking and unstaking. Staked users can unlock without penalty.

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