Odaily News Cryptocurrency Lisk announced its move to the Ethereum ecosystem as its Layer 2 solution. The new Lisk network will be powered by Optimism’s open source framework OP Stack and built using Gelato’s Rollup as a Service platform, with a focus on DePINs. Lisk once ranked among the top 20 in market capitalization during the 2017 bull market, but with the development of the blockchain industry, its market capitalization dropped 83% from US$919 million, and its ranking fell to 272nd. The project plans to conduct a testnet deployment of the Layer 2 network in the first quarter of 2024, providing a fee that is 90% cheaper than the Ethereum mainnet. The transition also includes migrating the LSK token to Ethereum to increase usability within the Ethereum ecosystem. The existing LSK reward mechanism will continue to exist, and LSK tokens will also be used for on-chain governance of the upcoming Lisk DAO. In addition, Lisk plans to conduct an initial airdrop of LSK tokens on the new chain, and specific details will be announced before the launch of the mainnet. This move aims to accelerate the development of Lisk in the new ecosystem and provide developers with cheaper transaction fees. (The Block)