Lisk Blockchain Embarks on a New Journey as an Ethereum Layer 2 via Optimism and Gelato

Lisk, the blockchain platform established in 2016, has announced an ambitious pivot in its operational strategy by transitioning from a standalone Layer 1 blockchain to becoming a Layer 2 solution within the Ethereum ecosystem. In a strategic collaboration with Optimism and Gelato

The migration of Lisk to an Ethereum Layer 2 will harness the OP Stack, an open-source framework provided by Optimism, and utilize Gelato’s platform for rollup services. Signifying Lisk’s commitment to integrating with Ethereum, a move that is expected to facilitate greater accessibility to blockchain technologies. Max Kordek, the co-founder of Lisk, envisions this integration as a critical step towards achieving widespread blockchain adoption.

During the cryptocurrency boom of 2017, Lisk made headlines as a top-tier digital asset by market capitalization. However, in the subsequent years, as the blockchain sector has advanced, Lisk’s market position has seen a significant decline. This shift towards becoming an Ethereum Layer 2 is part of Lisk’s broader strategy to regain relevance and capitalize on the opportunities presented by the Ethereum Virtual Machine’s broad adoption.

Scheduled for the first quarter of 2024, the testnet deployment of Lisk’s Layer 2 network aims to offer developers significantly reduced transaction fees compared to the Ethereum mainnet. A critical component of this evolution is the migration of Lisk’s native LSK token to the Ethereum platform, which is intended to enhance its functionality across decentralized applications (dApps) and decentralized finance (DeFi) protocols.

In conjunction with the token migration, Lisk is set to introduce a token airdrop to stimulate engagement on its new Layer 2 platform. This airdrop is part of a series of initiatives designed to ease the transition for current LSK holders and to encourage participation within the new ecosystem.

Lisk’s move to adopt the OP Stack places it among the pioneering Layer 1 blockchains to join the Optimism Superchain, a network of Layer 2 solutions. This development is a testament to the growing consensus that Layer 2 networks are instrumental in scaling blockchain technology. Ben Jones from the Optimism Foundation regards this step as a significant milestone for the entire blockchain movement, not just Ethereum.

The partnership with Gelato, which offers rollup-as-a-service, enables Lisk to deploy its Layer 2 solution with remarkable ease, thus allowing the Lisk team to focus on creating additional tools and products. Gelato’s expansion to include OP Stack support, alongside its current offerings like the Polygon CDK, opens up new possibilities for Lisk’s future endeavors.

Gelato’s co-founder, Hilmar Orth, reflects on the longstanding relationship with the Lisk team and the shared vision that the transition to a powerful Layer 2 blockchain will shape the next phase of web3 scalability. This collaboration is poised to enhance Lisk’s offerings by providing better access to liquidity, developer communities, and potential revenue streams.

As the world of blockchain continues to mature, Lisk’s strategic realignment to become an Ethereum Layer 2 reflects a broader trend of adaptation and integration. By leveraging the strengths of Optimism and Gelato, Lisk is not only enhancing its technological prowess but also ensuring its continued relevance in the dynamic and competitive field of blockchain technology.