Lisk to shut down chain on Oct. 31 after 10 years, pivot to enterprise payments

First-generation blockchain project Lisk, which launched in 2016 with the goal of building a JavaScript-based dApp ecosystem, will stop operating its chain on Oct. 31 after 10 years and shift its business toward enterprise treasury management and payment solutions, Crypto Briefing reported. Any LSK tokens left on the Lisk chain after that date will become permanently inaccessible. Users holding or staking LSK on the existing chain need to bridge their assets to Ethereum through Superbridge or Lisk Bridge. The foundation will burn 100 million LSK, equal to 25% of total supply, reducing the maximum supply to 300 million from 400 million. The token will also be reclassified as a loyalty token providing usage rewards and benefits within the enterprise platform.