Lisk shuts down blockchain, cutting off a backer of African startups
The blockchain shutdown could end an important funding pipeline for African early-stage Web3 startups at a time when venture capital for the sector remains scarce.
Swiss blockchain company Lisk announced it will shut down its blockchain, ending its strategy of supporting African startups and building an ecosystem in the region, effective October 31, 2026. The shutdown follows a decline in the value of the Lisk token (LSK) and operational fragmentation across stakeholders. Lisk's blockchain had $139,000 in total value locked, but this has fallen sharply since January 2026.
The company also plans to burn 100 million LSK tokens and transfer another 47 million to the company behind its new financial software business. While the LSK token will continue to trade on other networks, its role will shift to rewards and payments within the new platform.
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