Lisk DAO to Launch Community Vote on Sept. 24 to Decide Whether to Keep or Destroy 100 Million LSKs

June 27 (Bloomberg) -- Lisk, a blockchain application platform, said in an official blog post that it will launch a community vote on its newly launched Lisk DAO on Sept. 24 to decide whether to keep or destroy 100 million LSK tokens, which is 25 percent of the total supply of 400 million tokens. The vote will run for seven days until October 1, and the voting process will be conducted using Tally.This decision comes after Lisk's recent migration from the Layer 1 to the Layer 2 blockchain as part of the Optimism Superchain, as well as the launch of the new Lisk DAO.

The 100 million LSK tokens are vested in the DAO fund from 2027 to 2033 if the community chooses to distribute them, with 15 million LSK tokens distributed annually for six years and 10 million in the seventh year. This fund will greatly assist the community in advancing its own programs, supporting growth activities and funding innovative projects over the next decade. If the community chooses to destroy it, 100 million LSK tokens will be permanently removed from the total supply. This move will reduce the total supply of LSK tokens by 25% to 300 million tokens, but it will significantly reduce the power of the DAO.