$LSK
Lisk is a Layer 2 blockchain dedicated to bringing Web3 adoption in emerging markets back to Ethereum.
- Wallets & Personhood
- Ethereum
- Optimism
- Seed
- Europe
- Ascent
- 2024
About $LSK
The LSK token serves several important functions within the Lisk network. It is the default means of payment for transactions on the platform and a means of voting for delegates who validate transactions and add blocks to the blockchain. Developers also need LSK tokens to build and deploy dApps on the Lisk platform.
Delegates on the Lisk network earn LSK tokens for validating transactions and adding new blocks to the blockchain. These tokens are then used to cover the costs of running their nodes and to distribute rewards to their voters.
Lisk has a limited supply of up to 129,000,000 LSK tokens that will come into circulation. This limited supply is intended to prevent long-term inflation and devaluation of the tokens. New LSK tokens are not generated through mining but rather through a three-year DPoS delegation process, creating approximately 1.6 million new LSK tokens annually, which are distributed among delegates and their voters.