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Lisk (LSK), a delegated proof of stake (DPOS) protocol, has unveiled its plans to migrate to Ethereum as a layer-2 scaling solution. According to the update shared on its official X account, Lisk said its layer-2 plot will be achieved in collaboration with Optimism (OP) and Gelato Network.
Vladislav SopovAs the protocol noted, the push to Ethereum is to advance its key value protocol to bring real world assets (RWA) to emerging markets. Additionally, a switch to Ethereum will optimize its plans to provide a decentralized physical infrastructure network (DePIN) on-chain.
The switch from a full-blown layer-1 to a layer-2 protocol is uncommon; however, the ease of implementing the move, as provided by Optimism, makes the transition easier. Lisk now says it is the first L1 blockchain that will join other protocols like Base to contribute to the Optimism Superchain. Recall that Base was designed by Coinbase using the OP technology Stack.
By committing its developers to the development of Optimism Superchain, Lisk said it will advance the vision of contributing to the future of Web3. It believes its contributions in the long term will contribute to driving mass adoption into the industry.
Lisk price reacts
The announcement of the transition to the Ethereum protocol as a layer-1 network has pushed Lisk (LSK) to a new daily high. At the time of writing, the digital currency has jumped by 6.23% to $1.13, taking its market capitalization to $145,573,784.
The move to Ethereum might be the ultimate game-changer that Lisk needs to gain mainstream recognition, like other protocols in the L2 arena. Despite its revolutionary offerings and age, the protocol is ranked as the 262nd largest protocol by market capitalization, and its transaction count pales in comparison to OP and ARB.
This contrasts with Optimism (OP), Arbitrum (ARB) and Polygon (MATIC), whose market cap ranking and total value locked (TVL) compete with many established layer-1 blockchains today.
Arman Shirinyan
Alex Dovbnya
Vladislav Sopov
Dan Burgin