Lisk to End Velodrome Support on October 15th
Lisk will lose Velodrome support on October 15th as part of the Lisk Chain wind-down. Users holding XVELO or oUSDT, or providing liquidity in Velodrome pools, must withdraw their assets before the cutoff.Refer to the official tweet by LSK:Action required:As part of the Lisk Chain wind-down, support for Lisk ends on October 15th.Lisk Chain users with liquidity in any Velodrome pool or holding XVELO and oUSDT must withdraw it before October 15th.Here's what you need to know 🧵(1/8) LSK InfoLisk (LSK) is a blockchain application platform that was established in early 2016. It was created by Max Kordek and Oliver Beddows, and it's based on its own blockchain network and token, known as LSK. The goal of Lisk is to make it easier for developers to build blockchain applications in JavaScript and to deploy their own sidechain linked to the Lisk network.Lisk aims to solve the problem of network congestion and scalability on the blockchain by implementing sidechains, which are essentially parallel chains that carry the load of running decentralized apps. The sidechain concept allows developers to create customizable blockchains for their own specific set of rules, without affecting the performance of the main blockchain. This way, every decentralized application runs on its own blockchain, reducing the load on the network.Additionally, Lisk offers a Software Development Kit (SDK) that simplifies the process of building and deploying blockchain applications. With this approach, Lisk hopes to make blockchain technology more accessible to developers and to speed up the adoption of the technology across various industries. It also provides a unique consensus protocol known as Delegated Proof of Stake (DPoS), where stakeholders can vote for delegates to secure the network and validate transactions.