News Release: Zug, June 26, 2024 – Lisk announces the significant community voting date to decide on the retention or burning of 100 million LSK tokens, accounting for 25% of the total supply cap of 400 million. This community vote will provide an important opportunity for the Lisk community to influence the strategic direction of the Lisk project through the newly launched Lisk DAO.
The vote comes at a crucial moment as Lisk, as a member of the optimistic superchain, transitions from L1 to L2.
Voting Details:
Following the announcement in the Lisk blog post “LSK 2.0: Transition to ERC-20 Tokens” on April 4, 2024, allowing the community to decide the future of 100 million LSK tokens, the vote is scheduled to take place on September 24, continuing for 7 days on the new Lisk DAO until October 1, with the voting process using Tally.
Voting Options:
Community members will have two choices to consider:
Allocation to DAO Fund – This option will allocate 100 million LSK tokens to the Lisk DAO Fund, belonging to the fund from 2027 to 2033, for community distribution to various projects and opportunities (15 million LSK tokens annually for six years, and 10 million in the seventh year). This funding will enable the community to drive initiatives, support growth movements, and fund innovative projects over the next decade.
Burn from Supply – This option will result in the permanent removal of 100 million LSK tokens from the total supply. This action will reduce the total supply of LSK tokens by 25%, to 300 million.
Background:
Last week, Lisk announced the launch of its DAO according to their schedule. The company has refocused on real-world assets (RWA) in emerging markets, gaining significant popularity over the past few months.
To ensure a fair and community-centered decision-making process, the Onchain Foundation will not participate in the voting. This allows community members to have the final say in how these tokens are used.
About Lisk:
Lisk offers an economically efficient, fast, and scalable L2 network protected by Ethereum. As a long-standing Web3 infrastructure project, Lisk has been democratizing blockchain accessibility for global developers and end-users since 2016. Its core focus is on addressing local issues in emerging markets through solutions surrounding real-world assets (RWA), off-chain assets (OCA), and on-chain DePIN. As a member of the optimistic superchain, Lisk is contributing to the onboarding of the next billion users to Web3.
For more information, please visit: lisk.com
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