LSK Migration
Dear Customers,
This post contains an important notice regarding customer assets.
In response to the migration of Lisk (LSK) from its independent blockchain to the Ethereum blockchain and issuance as tokens under the ERC-20 standard, bitFlyer Europe S. A. (hereinafter referred to as bitFlyer) will suspend services for LSK starting around 10 am (CEST) on Monday, May 20th, 2024. Purchase and selling on Buy/Sell, deposits and withdrawals, and bitFlyer Recurring Buy will no longer be available from that date. bitFlyer is currently preparing to offer service for the newly issued ERC-20 standard tokens. Details will be announced separately as soon as they are available.
About the LSK Blockchain Migration
The token issuer Onchain Foundation has announced that the LSK tokens will be migrated from their independent blockchain to the Ethereum blockchain and issued as ERC-20 standard tokens on Tuesday, May 21st, 2024. Besides existing LSK being migrated to L2 LSK, existing LSK holders will also be granted Klayr (KLY) tokens issued on a new blockchain via airdrop. For more information, please ee the following announcement by the token issuer.
https://lisk.com/blog/posts/lsk-token-migration-snapshot-height-announcement
bitFlyers Response to LSK Blockchain Migration
- Information on existing LSK
The existing LSK blockchain will be terminated on Tuesday, May 21st, 2024 and trading and token retrieval will become impossible. For that reason, bitFlyer will suspend service for LSK from 10 am (CEST) on Monday, May 20th, 2024. Purchase and selling on Buy/Sell, deposits and withdrawals, and bitFlyer Recurring Buy will not be available from that date.
- Information on L2 LSK
bitFlyer is currently preparing to offer service for L2 LSK. However, this requires passing an examination by the JVCEA, which is expected to take a certain amount of time, and the results of the examination cannot be guaranteed by bitFlyer. Details will be announced separately as soon as they are available.
For Customers Holding Existing LSKs After Service Suspension
For the case that bitFlyer can support L2 LSK, L2 LSK tokens will be allocated to each customer at a 1:1 equivalent to their existing LSK holdings. However, please note that bitFlyer may not be able to compensate customers for their existing LSK holdings if support for L2 LSK is not possible.
Please Be Aware of the Following:
- The LSK blockchain migration will be carried out by the token issuer and bitFlyer will not be liable for any changes or any losses incurred by customers as a result of such changes.
- Existing LSK holders will be able to claim L2 LSK at a 1:1 equivalent from the token issuer after the migration to L2 LSK. However, customers who keep LSK in their bitFlyer account will not be able to make a direct request to the issuer. If you wish to make a claim to the issuer directly, you will need to transfer the LSK funds in your bitFlyer account to a private wallet before bitFlyer suspends service for LSK.
- With the migration of the existing LSK to L2 LSK, there might be price fluctuations, or price gaps may occur at the timing of the migration. Prices are in no way guaranteed by bitFlyer.
- bitFlyer has not yet determined how to proceed with the KLY that the token issuer intends to grant existing LSK holders.
bitFlyer EUROPE S.A.
Contact: https://bitflyer.com/en-eu/contact
HP: https://bitflyer.com/en-eu
Read more: https://blog-eu.bitflyer.com/lsk-migration/
Text source: bitFlyer Europe
