Lisk, the Swiss-based blockchain infrastructure company, is shutting down its blockchain, ending a product expansion strategy that saw it back early-stage startups and build an ecosystem presence in Africa, as it pivots into financial software for businesses.
The Lisk blockchain will be discontinued on October 31, 2026, while the company plans to wind down the Lisk decentralised autonomous organisation (DAO), according to a statement published on Tuesday. Lisk will keep its native LSK token, which will continue to trade on other blockchain networks, specifically Ethereum and Base.
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, while also pulling back one of the ecosystem’s more active sources of capital and support. Africa’s blockchain startups raised $90.1 million in 2025, down 26.6% from the previous year, according to venture capital firm Crypto Valley VC (CV VC).
Lisk had built a presence in Africa and other emerging markets, hiring regional leads and working with accelerators and developer-training programmes to deploy capital into early-stage companies. Its investments included Azza, a Nigerian WhatsApp-based stablecoin payments company, and ClapMi, a Nigerian social-finance platform backed through an accelerator. The ecosystem also supported other startups, including LovCash, a South African digital supply-chain startup, and Afrikabal, a Rwandan agritech marketplace, through Lisk’s EMpower Fund.
The shutdown also marks a major retreat from Lisk’s attempt to build a blockchain ecosystem around the LSK token. Lisk said the chain failed to generate enough revenue to support the token, while grants and other incentives paid in LSK increased the supply of tokens in circulation…
Source link
Read Full Article by Emmanuel Nwosu at techcabal.com
Source link
