**Press Release**
Zug, June 26th, 2024 –
Lisk is pleased to announce the scheduling of a pivotal community vote to decide the fate of 100 million LSK tokens, constituting 25% of the total capped supply of 400 million. This vote marks a significant opportunity for the Lisk community to shape the strategic trajectory of the project through the newly established Lisk DAO.
The decision to conduct this vote comes at a critical juncture following Lisk’s transition from L1 to L2 as part of the Optimism Superchain.
**Details of the Vote:**
Following Lisk’s announcement on April 4, 2024, regarding the community’s authority over the future of 100 million LSK tokens in the blog post “LSK 2.0: Migration to an ERC-20 Token,” the voting period is set to commence on September 24 and will run for 7 days until October 1st on the new Lisk DAO platform, utilizing Tally for the voting process.
**Voting Options:**
Community members will have two choices:
1. **Allocate to DAO Fund:** This option allocates the 100 million LSK tokens to the Lisk DAO Fund. These tokens will be vested into the fund from 2027 to 2033, with an allocation of 15 million LSK tokens annually for six years, followed by 10 million tokens in the seventh year. This funding will empower the community to drive initiatives, support growth campaigns, and finance innovative projects over the next decade.
2. **Burn from Supply:** Opting for this choice will permanently remove the 100 million LSK tokens from circulation, thereby reducing the total supply of LSK tokens by 25%, bringing it down to 300 million tokens.
**Context and Background:**
Recently, Lisk launched its DAO according to schedule. The company, refocused on real-world assets (RWA) in emerging markets, has garnered significant attention in recent months.
To ensure a fair and community-centric decision-making process, the Onchain Foundation will abstain from participating in the vote. This decision empowers community members to have the final say in the utilization of these tokens.
**About Lisk:**
Lisk offers a cost-efficient, fast, and scalable L2 network secured by Ethereum. Since 2016, Lisk has been a stalwart in Web3 infrastructure, democratizing blockchain access for developers and users worldwide. Its primary focus is addressing local challenges in emerging markets through solutions involving real-world assets (RWA), off-chain assets (OCA), and on-chain decentralized private infrastructure networks (DePIN). As a member of the Optimism Superchain, Lisk is dedicated to onboard the next billion users to Web3.
For more information, please visit: lisk.com
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