Lisk’s community must decide soon whether to burn 100,000,000 LSK tokens in order to cast its first vote on a newly formed decentralized organization.
The Lisk community has seven days from September 27 to decide whether 100 million LSK, or 25% of its total supply, will be burned. Or if these tokens are allocated to the community for incentives until 2033.
The Lisk team has shared a release with Crypto.news that says it will be the first time the Lisk platform is used for cryptocurrencies. “first major vote” The newly formed decentralized autonomous organisation Lisk DAO recently moved to the Optimism The Ethereum Ecosystem will benefit from a lower cost of accessing the products on the Superchain network.
The total LSK token supply would drop to 300,000,000 tokens if the community decides to burn them. This is down from 400,000,000 tokens. Conversely, if the community chooses to allocate the tokens, they will be vested into the Lisk DAO Fund from 2027 – 2033 to enable the community to “drive initiatives, support growth campaigns, and finance innovative projects over the next decade,” The press release says.
Dominic Schwenter is Lisk’s Chief Project Officer. He has stated that Onchain Foundation, (formerly Lisk Foundation), will not be participating in the voting. “to ensure a fair and community-focused decision-making process.”
Lisk, which was first launched back in 2016, revealed the migration plan for Lisk in 2023. At the time, Lisk said in an blog post The decision was based on necessity “to upgrade” Lisk’s ecosystem will be able to make the original layer-1 network more robust. “cost-effective for users and developers.”
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Source: crypto.news