Key Details

• Snapshot Height: Block height 24,823,618 (estimated to occur on May 21st, 2024, around 8:00 AM CET)
• Post-Migration LSK Token: The LSK token ticker name and brand will remain the same.
• Eligibility: LSK token holders at the snapshot height will receive the ERC-20 LSK tokens on the Ethereum network.
• L1 Blockchain Continuation: Klayr, the team behind Liskscan and other Lisk community projects, will deploy a new L1 blockchain built with the Lisk SDK and will airdrop their new KLY tokens to existing LSK token holders.

The snapshot will occur at block height 24,823,618, which is estimated to happen around 08:00 AM CET on May 21st, 2024. For LSK holders, this means that those who hold LSK at this specific block height will be migrated and eligible to receive the ERC-20 LSK tokens on the Ethereum Mainnet.

As detailed in our LSK 2.0: Migration to an ERC-20 Token article, this move brings several advantages to the Lisk ecosystem and tremendously increases the reach of the LSK token. This expanded reach should also lead to improved liquidity for the token and easier integration on exchanges.

Most importantly, the migration unlocks new functionalities for LSK holders, among which the ability to stake your tokens and participate in the governance of the Lisk L2, empowering you to play a more active role in its future.

In the meantime, it's important to note that the LSK ticker name and brand will remain the same after the migration, while Klayr, the team behind Liskscan and other Lisk community projects, will deploy a new L1 blockchain built with the Lisk SDK and will airdrop their new KLY tokens to existing LSK token holders.

Claiming Your New LSK Tokens: A Smooth Transition to Ethereum

When the migration takes place and in order to facilitate the claiming process, two essential smart contracts will be deployed:

• The ERC-20 LSK Token Contract (Ethereum): This contract will act as the central hub, keeping track of the total LSK supply and how many tokens are distributed across various bridges and L2 solutions.
• The Claims Contract (Lisk L2): This contract will play a vital role on the Lisk L2 network. Initially, it will hold all unclaimed LSK tokens. Once you have submitted a successful claim, the contract will automatically transfer the corresponding amount to your Ethereum address.

How to claim your share:

Ready to claim your new ERC-20 LSK tokens?

1. Sign a Claim Message: Using your trusted Lisk Desktop, you'll sign a special message serving as a proof that you control the specific account associated with the LSK tokens. It also specifies the Ethereum address where you want to receive your new tokens.
2. Submit Your Claim: Head over to your Ethereum wallet and send the signed claim message to the claims contract on the Lisk L2 network.
3. Verification and Crediting: The claims contract acts as a gatekeeper, meticulously validating your claim. Once everything checks out, the contract will mark the tokens as claimed and credit your L2 account with the corresponding amount of ERC-20 LSK tokens.

Stay tuned, a complete and more detailed step by step guide will be made available at the migration date.

Important Notes:

• To ensure everyone has ample time to claim their new LSK tokens, we’ve established a generous two-year claiming window. This extended time frame provides enough flexibility for those who might miss the initial announcement or encounter any delays. Any unclaimed tokens after this two-year period will be transferred to the Lisk DAO treasury to benefit the entire Lisk community.
• Stakers will also need to claim any rewards earned through staking on the L1 before the snapshot in order to receive credit for them in the token migration.
• Validators should wait until the snapshot height is finalized before shutting down their nodes.