Tuesday, 19 December 2023 08:35 AM
Financing
Lisk becomes the first L1 to commit to Optimism's Superchain vision
ZUG, SWITZERLAND / ACCESSWIRE / December 19, 2023 / Lisk, the blockchain platform that has been committed to democratizing blockchain accessibility since its founding in 2016, announces a strategic move to integrate with the Ethereum ecosystem as a Layer 2 (L2). Focused on solving local problems in Emerging Markets by bringing solutions around real-world assets (RWA), off-chain assets (OCA), and DePIN onchain, the upcoming Lisk ecosystem chain will be powered by Optimism's OP Stack, and built on Gelato's Rollup as a Service platform, offering developers with proven tooling and a familiar web2-like experience for their users.
"Integrating with the Ethereum ecosystem and aligning with industry standards brings us closer to our goal of making blockchain accessible than ever before," said Max Kordek, Co-Founder of Lisk. "It fills me with pride to be able to collaborate with industry giants like the Optimism Foundation and Gelato on this monumental step forward for Lisk."
This transition is a proactive step in alignment with the dynamic changes in the blockchain landscape, showcasing a commitment to fostering industry unity. Key motivations for the strategic shift include:
Fulfilling ICO promise and moving forward
Lisk's initial promise of making blockchain technology more accessible to developers through a sidechain-based platform built from the ground up using the most popular programming language in the world (Javascript / Typescript) was groundbreaking. Lisk is in the 1% of projects that conducted an ICO during the period of 2016 - 2018 to have fulfilled its original commitments laid out during their token sale. With the maturation of the blockchain industry and the widespread adoption of clear standards like the Ethereum Virtual Machine (EVM) and smart contracts, however, the platform sees a compelling opportunity to expedite its overarching mission by migrating to the Ethereum ecosystem as Layer 2. It's a strategic move to accelerate Lisk's vision of increasing the accessibility of blockchain's transformative benefits to developers, founders, and end users worldwide.
Joining the Optimism Superchain
Lisk will collaborate with Optimism, Base, and others as the first L1 to contribute to the shared vision of the Optimism Superchain. Lisk's internal team of seasoned blockchain developers and researchers will contribute to the underlying development of the Superchain.
Joining the Superchain and committing to the Law of Chains open neutrality framework continues Lisk's original vision of contributing to an interconnected Web3 future that builds the seamless developer and end user features necessary for the industry to reach mass adoption.
"We are thrilled to welcome the Lisk project and community to the Optimism ecosystem," said Ben Jones, Chief Scientist at the Optimism Foundation. "Lisk's transition to the OP Stack underscores our conviction that L2s are the path to scaling not just Ethereum, but the blockchain movement itself. We're looking forward to working with the Lisk team to bring the Superchain vision to reality."
The testnet deployment of the Lisk L2 ecosystem chain is scheduled for Q1 of 2024, leveraging the OP Stack, enabling developers to immediately access;
- Up to 90% cheaper fees than Ethereum Mainnet
- Up to 7x faster than Ethereum Mainnet
- EVM equivalence: using familiar workflows and tooling
Lisk is proud to partner with the talented team at Gelato to deploy the L2. This collaboration will supercharge the Lisk L2 with Gelato's end-to-end integrated infrastructure and Web3 services, including native account abstraction, block explorers, bridges, and oracles. The Lisk ecosystem chain will, therefore, be production-ready to support a diverse range of use cases from the Genesis block.
"Lisk has been pioneering sidechains and developer-friendly Web3 infrastructure since 2016. We have known the team since our early days together in Berlin, and are excited to finally be able to work together more closely," said Hilmar Orth, co-founder of Gelato. "By embracing Ethereum's ecosystem and porting its existing community onto a powerful Layer 2 blockchain using Gelato's Rollup as a Service platform, we are collectively shaping the future of Web3 scalability. The Lisk ecosystem will benefit greatly from better access to liquidity, developers and sequencing fee revenue generated from their Layer 2 blockchain."
Migration of LSK token for enhanced usability and governance
As part of the transition, Lisk will migrate the LSK token to the Ethereum ecosystem. This move is designed to enhance the usability of the token for all holders. There will be many direct benefits of having the LSK token become compatible with the dApps and services built on top of Ethereum, such as DEXs and other DeFi protocols.
Reward-sharing mechanisms will be continued for token holders, as well as the ability to use the token for onchain governance of the soon-to-be-announced Lisk DAO. Leading up to the Mainnet launch, more information will be shared around an initial airdrop planned to help incentivize activity.
Lisk is thrilled to undertake this transformative journey alongside our valued community and partners. Learn more at https://lisk.com/, or join us for an engaging AMA session to explore and discuss this exciting development.
About Lisk
Lisk provides a cost-efficient, fast, and scalable Layer 2 (L2) network that is secured by Ethereum. As a long-standing Web3 infrastructure project, Lisk has been democratizing blockchain accessibility for developers and end users globally since 2016. Its core focus is to solve local problems in Emerging Markets by bringing solutions around real-world assets (RWA), off-chain assets (OCA), and DePIN onchain. As a member of the Optimism Superchain Lisk is contributing to onboarding the next 1 billion people to Web3.
About Gelato
Gelato is an all-in-one Ethereum Rollup as a Service Platform built without limits. Designed to be super-fast, incredibly secure, and infinitely scalable, Gelato rollups allow anyone to build and deploy their fully serviced Layer 2 chains at a pace natively integrated with Web3's favorite tools and services, launching a production-ready Web3 development environment from the Genesis block.
About Optimism
Optimism is a project dedicated to scaling Ethereum's technology and expanding its ability to coordinate people from across the world to build effective decentralized power structures. The Optimism Collective builds best-in-class software for running L2 blockchains and aims to address key governance and economic challenges in the wider cryptocurrency ecosystem. The Optimism Collective is also committed to building a sustainable ecosystem through Retroactive Public Goods Funding. By rewarding the impactful projects, Optimism is scaling Ethereum's present to provide funding for its future.
CONTACT:
Leora Schreiber
[email protected]
SOURCE: Lisk