Bitvavo will support the Lisk (LSK) token swap
Bitvavo will support the Lisk (LSK) token swap. Read our article for more details.
How does it work?
Bitvavo will handle the swap of your LISK balance on your behalf, you don't need to take any action. The token swap is a crucial step in the transition from the LISK Blockchain to the new token LISK on the Ethereum mainnet. Each L1 LSK token will be migrated to a L2 LSK token based on a ratio of 1-to-1. Read more about it here.
This is our timeline:
- Starting from May 20th at 14:00 CET, deposits and withdrawals of LISK will be halted.
- We expect that on May 21st, we will arrange the secure swap of your LISK to the Ethereum mainnet. During this time you can continue to trade your LISK.
- On May 23rd we lift the halt on deposits and withdrawals and you can withdraw and deposit the LISK token on the Ethereum mainnet.
What is Lisk (LSK)?
Lisk (LSK) is an open-source decentralized platform on which third parties can easily build their own decentralized application on their own "side-chain". With a side-chain is meant a stand-alone blockchain that can be set up entirely according to one's own insight but is linked to the Lisk blockchain. This side-chain can be used by programmers to build decentralized applications such as applications focused on social networks, games and the exchange of values.
If you have any questions regarding this swap, please contact our support team at [email protected].