News report. Zug, June 26, 2024 – Lisk announced a significant community vote date on whether to retain or burn 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 critical moment as Lisk transitions from L1 to L2 as a member of the optimistic superchain.
Voting details:
Following Lisk’s announcement on April 4, 2024, in the blog post “LSK 2.0: Moving to ERC-20 Tokens,” allowing the community to decide the future of 100 million LSK tokens, the vote is scheduled to take place on September 24, on the new Lisk DAO, running for 7 days until October 1, with the voting process using Tally.
Voting options:
Community members will have two choices to consider:
Allocate to DAO Fund: Choosing 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 per year 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: Choosing this option will result in permanently removing 100 million LSK tokens from the total supply. This action will reduce the total supply of LSK tokens by 25%, to 300 million.
Background and Context:
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 in recent 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 on how these tokens are used.
About Lisk:
Lisk provides an economically efficient, fast, and scalable L2 network secured 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 solving local issues in emerging markets through solutions around 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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