The wind-down plan
Lisk was the second-biggest crowd-funded project in crypto back in 2016, raising more than 14,000 BTC — roughly $5.7 million at the time — second only to Ethereum's 2014 sale. The project abandoned its original Layer-1 in December 2023 and rebuilt as an Ethereum Layer-2. That reboot, barely two years old, is what's closing in October. The proposal includes flexible staking, so holders can exit after a three-day waiting period. The DAO vote is the next checkpoint, and the Lisk Chain will stay supported until the closure date.
The burn and the bridge
The burn removes 100 million tokens, but the harder part is the move. Holders on the Lisk Chain must bridge to Ethereum before October 31. Bridging takes at least seven days, and if the vote passes, there's an extra three-day unstaking wait. That's a tight window for anyone still holding.
Base — Coinbase's Ethereum Layer-2 — will become LSK's primary home alongside Ethereum, with LSK repurposed as a loyalty asset for business finance users. For builders, Lisk is arranging a migration path to Celo, which completed its own transition to an Ethereum Layer-2 in March 2025.
A token that's been through the wringer
LSK's market cap once neared $4 billion. From its January 2018 high of $34.92, it's fallen more than 99%, trading near $0.09. The all-time low came just three weeks before this announcement: $0.07 on August 3. Binance added LSK to its Monitoring Tag in July, flagging it for delisting risk. This isn't a project in a healthy spot.
The DAO vote decides the burn and the dissolve. After that, it's a race to the bridge — October 31 is the hard deadline
