Binance Successfully Completes Lisk (LSK) Contract Swap
Luisa Crawford May 24, 2024 11:22
Binance has successfully completed the Lisk (LSK) contract swap, now accepting deposits and withdrawals for the new ERC20 LSK tokens.
Binance Completes Lisk Contract Swap
According to a recent announcement from Binance, the world’s largest cryptocurrency exchange by trading volume, the Lisk (LSK) contract swap has been successfully completed. The swap was conducted at a 1:1 ratio, with 1 old LSK token equating to 1 new LSK token.
Deposits and Withdrawals Now Open
The announcement further stated that deposits and withdrawals for the new Ethereum (ERC20) LSK tokens are now open. Users can obtain their assigned new LSK token deposit addresses on the Binance platform. However, deposits and withdrawals of the old LSK tokens on the Lisk mainnet will no longer be supported.
More on Lisk (LSK) Contract Swap
Lisk is a blockchain application platform that was established in early 2016. It enables developers to create, distribute and manage decentralized blockchain applications by deploying their own sidechain linked to the Lisk network. The LSK token is used in the Lisk ecosystem for various transactions.
The contract swap essentially means that Lisk has transitioned its native tokens from its own mainnet to the Ethereum network, becoming an ERC20 token. This is a significant development for Lisk as it enhances interoperability and opens up new possibilities for the token within the Ethereum network ecosystem.
Final Remarks
Binance has urged its users to ensure they have the latest and most accurate information regarding the swap. It also reserves the right to amend or cancel its announcement anytime and for any reasons without prior notice.
As with any investment in cryptocurrency, Binance advises investors to understand the risks, consider their investment experience, financial situation, investment objectives and risk tolerance, and consult an independent financial adviser before making any investment decisions.
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