In the wave of Ethereum expansion, many blockchain projects are shifting to develop Layer 2 (L2) to leverage scalability, low costs, and existing ecosystems. Lisk (LSK) is one of the notable names that has transformed from a sidechain platform to a Layer 2 solution, built on OP Stack. What makes this project special? Let's explore with Allinstation through the article below!
What is Lisk (LSK)?
Initially, Lisk was founded in 2016 by Max Kordek and Oliver Beddows with the goal of creating a platform that helps developers easily build dApps using JavaScript on custom sidechains. However, in 2024, Lisk officially announced an important transformation: becoming an EVM-compatible Layer 2, collaborating with Optimism and Gelato, a platform providing Rollup-as as-a-Service (RaaS).
Currently, Lisk is an ELayer with high transaction speed, low costs, and good scalability. The project aims to serve applications related to real-world assets (RWA) and decentralized infrastructure networks (DePIN) - especially in emerging markets like Southeast Asia and Africa.
Lisk also participates in Optimism's Superchain initiative, a network of Layer 2s sharing infrastructure, bridges, upgrades, and development community. With support from partners like Gelato and inheriting security from Ethereum, Lisk is gradually reshaping its position as a developer-friendly Layer 2 and accessible to the general public.
Lisk Project Homepage
Lisk (LSK) Development Journey
2016: Lisk started as a JavaScript dApp platform using independent sidechains.
2023-2024: Joined Optimism's Superchain initiative.
Q1/2024: Launched Lisk L2 testnet.
Q2/2024: Deployed testnet for developers.
Late 2024: Launch of Lisk L2 mainnet, beginning a new era.
Lisk Layer 2 – New Goals, New Vision
After years of operating as an independent Layer 1 Officially repositioned strategy by transforming into a Layer 2 (L2) built on OP Stack. this is a crucial turning point, demonstrating the long-term vision and strong adaptability of the Lisk development team in a blockchain market increasingly focused on scalability and performance.
Lisk – Layer 2 Built on OP Stack
Lisk's strong strong>Lisk aims to build a cost-effective, high-speed, and user-friendly Layer 2, serving practical applications, especially in the in the following p li Assets>Assets (RWA): such as real estate estate,, documents, mortgaged assets,…li Decentralized Physical Infrastructure Network (DePIN): such as IoT sensors, Wi-Fi networks, smart transportation,…
Lisk is not just an EVM-compatible L2, but also wants to become a blockchain platform that be is end-user-and developer-. With OP Stack as its foundation, Lisk can:
Inherit the entire ecosystem and tools from Ethereum & Optimism.
Benefit from the community of chains in the Superchain (such as Base, Zora, Mode...).
Easily integrate into existing DeFi, Non-Fungible Token, GameFi, and Web3 products without having to redevelop from scratch.
Lisk Products
Lisk L2 Network: An EVM-compatible Layer 2 network built on OP Stack, secured by Ethereum, supporting high-speed Web3 applications with low costs.
LSK Token (ERC-20): The central utility token of the Lisk ecosystem, used for transaction fee payment, DAO staking, participation in DeFi activities, and community governance.
Gelato Integration: Lisk fully integrates Gelato's Rollup-as-a-Service infrastructure, including: Cross-chain bridge, Data oracles, Account abstraction, Block explorer, and SDK & API for developers
Developer Support Program: Lisk provides development tools, technical documentation, and support for transitioning from the old Lisk SDK to new EVM tools like Solidity, Hardhat, Remix,...
EVM Compatibility: Lisk now fully supports Solidity tools and contracts, allowing developers to immediately use familiar libraries like Web3.js, Ethers.js, Truffle,...
Low Transaction Costs: Thanks to the rollup structure, transaction fees on Lisk L2 are up to 90% cheaper than Ethereum L1, and will be further optimized when Ethereum implements Proto-Danksharding.
High Security: Lisk inherits strong security from the Ethereum network by using OP Stack, reducing the risk of network attacks and data rollback.
High Interoperability: Lisk is part of Superchain, a Layer 2 network interconnecting Optimism, Base, Mode,... helping users interact seamlessly with applications across multiple chains.
Focus on Emerging Markets: Lisk aims to apply blockchain to practical issues in Southeast Asia and Africa, especially in microfinance, real asset management, and decentralized infrastructure (DePIN).
Strong Community and Ecosystem: Lisk connects with Optimism initiatives like RetroPGF, opening up funding and collaboration opportunities for new projects.
Basic Information about LSK and Tokenomics
Basic Information
Token Name: Lisk
Ticker: LSK
Old Consensus Mechanism: Delegated Proof of Stake (DPoS)
New Consensus Mechanism: Rollup-based, inheriting security from Ethereum
Token Type: ERC-20 (after conversion)
Total Supply: 400,000,000 LSK
Circulating Supply: 145,444,085 LSK
LSK Token Distribution
85%: Issued to the market through token sale.
8%: Held by Lisk development team.
4%: Budget for bounty campaigns.
2%: Reserved for advisors, partners, and other third parties.
1%: Belongs to early supporters.
Lisk token distribution
LSK Token Utility
Transaction fees and rewards on L1
Payments and transactions in DeFi
Used in staking
DAO on L2 As a native asset in the Lisk L2 ecosystem
Lisk's Development Team, Partners, and Investors
Development Team
Lisk is developed by Lightcurve GmbH, based in Switzerland and Germany. The team includes ~23 technical members, including former engineers from Ethereum, IOHK.
Max Kordek – CEO & Co-Founder
Oliver Beddows – CTO & Co-Founder
Investors
Currently, no information is available about Lisk's investors and funding rounds
Partners
Optimism: OP Stack & Superchain
Gelato: RaaS + Web3 Infrastructure
Messari, Figment, OKX Ventures:
Ecosystem partners Chainlink, The Graph: Oracle & decentralized data
Summary
Lisk's shift from an independent Layer 1 blockchain to a Layer 2 built on OP Stack demonstrates a robust strategy for adapting to Ethereum's expansion trends. With a vision focused on RWA and DePIN, Lisk aims not only to develop technology but also target emerging markets with clear practical needs.
In the near future, Lisk L2 promises to become an important link in Ethereum's Superchain ecosystem, opening up significant opportunities for developers, users, and Web3 projects globally.
Note: This article is for informational purposes and is not investment advice.
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
