Lisk moves to Ethereum L2
It has been revealed that Risk (LSK), an independent layer 1 blockchain project, is planning a strategic transition to a layer 2 solution on Ethereum.
The new L2 ecosystem chain will focus on bringing real-world assets (RWA) into the blockchain and building a decentralized physical infrastructure network (DePIN).
Lisk’s new ecosystem chain will be built on OP Stack, an open source framework provided by Optimism. Lisk will be the first Layer 1 (L1) project to realize Optimism’s Superchain vision.
The reason behind this move is that over 90% of transaction fees consumed by the L1 protocol are generated within the Ethereum network. The Lisk team says the blockchain industry is maturing, with well-defined standards like EVM (Ethereum Virtual Machine) being widely adopted, and the majority of applications and users consolidating around Ethereum.
Testnet deployment of the Lisk L2 ecosystem chain is scheduled for Q1 2024, and developers will have access to it at up to 90% lower fees than the Ethereum mainnet.
connection:What is layer 2 of blockchain? Explaining types, points of interest, and typical networks
Expecting improved usability
Lisk co-founder Max Kordec said the integration with the Ethereum ecosystem will improve access to the blockchain.
The main change for end users is a change in the way they interact with the Lisk blockchain and dApps. By moving to Ethereum, we aim to integrate Lisk L2 with popular crypto wallets such as Safe, MetaMask, and Coinbase Wallet.
LSK token migration is also planned, facilitating the use of dApps and DeFi protocols within the Ethereum ecosystem. LSK’s reward sharing mechanism will be maintained and will also be used for on-chain governance of Lisk DAO. Additionally, an airdrop of LSK tokens is planned to facilitate migration to the new chain.
connection:Ethereum L2 “Base” developed by virtual currency exchange Coinbase plans to receive up to 118 million OP tokens in 6 years
Participated in Optimism Superchain
Lisk will contribute to the development of Optimism Superchain by using OP Stack. Additionally, by leveraging Gelato’s Rollup-as-a-Service platform, you can deploy OP chains without any additional coding. This will allow Lisk’s development team to focus on developing Superchain while also focusing on developing additional products and tools.
Gelato’s RaaS platform serves as a key component to run customers’ blockchains and provide integrated infrastructure services.
Superchain is a concept proposed by Optimism, a network of horizontally scalable blockchains that share a security, communication layer, and open source development stack (OP stack). It is a collection of multiple Layer 2 chains built using a common development platform called OP Stack, with participation from Layer 2 chains Base supported by Optimism and Coinbase, Binance’s opBNB, etc.
connection:Lisk supports Web3 application development startups with grants of up to 36 million yen