Binance Successfully Completes Lisk (LSK) Contract Swap

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.

Image
source:
Shutterstock

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