- Lisk shut down its L2 network, Lisk Chain, on November 2, 2026, as the project shifted its focus to a financial platform for businesses.
- LSK will remain in circulation on Ethereum, while about 5.2 million unclaimed or undistributed staking-reward tokens will be burned after the shutdown process is complete.
- Users with assets remaining on Lisk Chain may have difficulty recovering them, and Lisk does not guarantee that access will be restored.
The Lisk project shut down its L2 network, Lisk Chain, on November 2, 2026, to focus on building a financial platform for businesses. The LSK token will remain in circulation, with Ethereum serving as its primary network.
Lisk carried out the shutdown in stages. It first discontinued user services, including Lisk Portal and Lisk Bridge, before turning off the rest of the network.
After the shutdown process is complete, about 5.2 million LSK held in the staking rewards smart contract will be burned. The amount consists of rewards that were either not distributed or not claimed by users. LSK that users locked in staking will not be burned.
The project burned 100 million LSK in September. According to Lisk, the token has a total supply of 300 million and an inflation rate of 0%.
Financial platform for businesses
After 10 years of developing onchain solutions, the Lisk team will focus on a financial platform designed to combine operations involving traditional currencies and stablecoins in one system.
The platform offers separate accounts for teams, legal entities and projects. Users can fund the accounts with fiat currencies or stablecoins.
Its payment tools support bank transfers through ACH, wire and SEPA, as well as stablecoin payments to more than 100 countries. The platform also provides shared payment rules and a confirmation history for each transaction.
Wallet features include crypto asset management, current prices and customizable approval rules for transactions. The platform is available in early access, and businesses can apply through the Lisk website.
LSK and assets remaining on Lisk Chain
LSK will remain the project’s loyalty token. Beginning in 2027, businesses will be able to earn and spend LSK on the Lisk platform.
Asset holders who left funds on Lisk Chain may face difficulties recovering them. The team does not guarantee that access to those assets will be restored. Lisk plans to introduce a manual application process and publish additional instructions in January 2027.
Celo has agreed to help developers migrate projects built on Lisk Chain to another network. Developers will be able to contact the project team through a dedicated form.
Between September 7 and September 13, 2026, LSK rose from $0.10 to a peak of $2, a gain of more than 1,800%.
Source: Incrypted
