On November 2, blockchain company Lisk officially shut down its Lisk Chain, a Layer 2 network built on Ethereum. Originally launched in 2016, Lisk transitioned to this Layer 2 solution from its own Layer 1 network in 2024. According to the company’s blog, the closure began with the deactivation of the portal and cross-chain bridge, with other components being phased out gradually. Following this, Lisk plans to burn approximately 5.2 million LSK tokens that were set aside as unclaimed staking rewards. However, the LSK token will continue to operate within the Ethereum network for future loyalty programs. Currently, the Lisk team is concentrating on developing an international financial platform aimed at businesses, focusing on account management, payment processing, and transfers in fiat and stablecoins.