Blockchain Application Platform Lisk Has Initiated A Vote On Whether To Distribute Or Burn 100 Million LSK Tokens

Starting September 27, the Lisk community will have seven days to vote on whether to burn 100 million LSK tokens, representing 25% of the total LSK supply, or distribute these tokens to incentivize the community until 2033. In a press release published on crypto.news, the Lisk team states that this will be the “first major vote” of the newly created decentralized autonomous organization Lisk DAO, which recently moved to Optimism Superchain to limit access to network products in the Ethereum ecosystem.

If the community votes to burn the tokens, the total supply of LSK will decrease to 300 million tokens from the current level of 400 million. Conversely, if the community decides to distribute the tokens, they will be transferred to the Lisk DAO fund between 2027 and 2033 to allow the community to “drive initiatives, support growth campaigns, and finance innovative projects over the next decade,” according to the press release.

Lisk Project Director Dominic SCHWENTERemphasized that the Onchain Foundation (formerly the Lisk Foundation) will not participate in the vote “to ensure a fair and community-focused decision-making process.”