Lisk Developer Mainnet is Live and Here’s What It Means!

Since its inception in 2016, Lisk has been on a mission to make blockchain technology more accessible. In 2023, the decision was made to join the Optimism Superchain. This bold move has positioned Lisk as a pioneer, becoming the first L1 to transition to a L2, enhancing its interoperability within the vast Ethereum ecosystem.

By Lisk

29 May 2024

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Network Essentials

Here are the core details you need to get started with the Lisk Developer Mainnet:

So… What’s a Developer Mainnet?!

The Developer Mainnet is a crucial phase to establish a robust foundation for our ecosystem. It enables key infrastructure applications such as bridges, decentralized exchanges (DEXs), and Real World Assets (RWA) issuers to deploy before the “public” or “user” mainnet launch later this year. This period also allows developers to start integrating with this infrastructure and deploying their own applications.

Additionally, the Developer Mainnet aims to incentivize early builders and applications on the Lisk network through several airdrops, including an upcoming series of Dev Drops.

During the developer mainnet phase, the Lisk team will focus on enhancing the ecosystem’s user experience by integrating with popular wallet providers, implementing fast bridge options for multiple tokens, ensuring easy access to stablecoins and seeding initial liquidity across the Lisk ecosystem.

In summary, the Developer Mainnet provides essential preparation time for the ecosystem, setting the stage for a broader push towards user adoption with the upcoming Public Mainnet launch.

What Comes Next?

The launch of the Developer Mainnet is just the beginning. This milestone will be followed by several groundbreaking developments:

  • Fully Operational Mainnet: A fully functioning mainnet is already live.
  • LSK as an ERC20 Token: LSK tokens will become live as ERC20 tokens, enhancing their utility and interoperability within the Ethereum ecosystem.
  • Lisk DAO: The introduction of the Lisk Decentralized Autonomous Organization, empowering the community with governance and decision-making powers.
  • Lisk Staking: The rollout of staking mechanisms, offering LSK holders attractive yields and further incentivizing active participation in the ecosystem.

This marks the start of an exciting new chapter for Lisk, paving the way for robust growth and innovation.

What it Means for Developers

The launch of the Developer Mainnet brings in a host of new functionalities and opportunities for Lisk developers. Unlike the testnet phase, our Developer Mainnet allows developers to deploy fully operational applications with real economic mechanics and real assets. This means developers can now create applications that involve real transactions, allowing them to generate revenue from day one.

Key Benefits for Developers:

  • Generate Revenue: Applications can charge users for services or access, sell digital goods, or include microtransactions, directly earning real ETH.
  • Gain Practical Experience: Working on the Mainnet provides developers with invaluable experience. They get to understand the nuances of managing real-world economic transactions, handling real user data, and ensuring the security and efficiency of their applications on Lisk.
  • Market Testing: Deploying on the Mainnet allows developers to test their applications in a live market environment. They can gather real user feedback, observe actual usage patterns, and iterate their products based on authentic data.
  • Integration with DeFi: Developers can now integrate their applications with decentralized finance (DeFi) protocols. This includes leveraging lending, borrowing, and other financial services available within the Ethereum ecosystem, providing more utility to their users.

The Dev Mainnet also means that Lisk will soon be introducing staking! This will be offering LSK holders attractive Annual Percentage Yield (APY) and voting power within the soon-to-be-launched Lisk Decentralized Autonomous Organization (DAO).

This initiative is designed to promote long-term commitment and active governance participation among Lisk users. Staking LSK tokens not only provides financial incentives but also encourages active participation in Lisk's on-chain governance. By staking, users contribute to the decentralization and community involvement that are crucial for the project's evolution and success.

Expanding the Ecosystem: Partnerships and Growth

Since the testnet launch in February, we have welcomed a number of key partners planning to deploy in the Lisk ecosystem, including:

  • Rarible: A leading decentralized marketplace for NFTs.
  • Velodrome: A next-generation decentralized exchange optimized for speed and low fees.
  • Obligate: Innovative on-chain asset management solutions.
  • Across Protocol: Secure and efficient cross-chain asset transfers.
  • Secret Network: Privacy-first blockchain for secure smart contracts.
  • Oku Trade: Decentralized trading platform with advanced features.

These partnerships underscore the robustness and appeal of the Lisk ecosystem for top applications in the space, and we are confident many more will follow.

Say Hello to the Lisk DAO

The Lisk DAO utilizes on-chain voting to engage the community in decision-making. LSK token holders can stake their tokens via the Lisk Portal to gain voting power, enabling them to participate in governance. The DAO will soon be supporting two types of proposals: funding and general. Funding proposals are binding and allocate funds from the DAO treasury, while general proposals can influence protocol parameters and project direction. The treasury, managed entirely by the community, will initially hold 45 million newly minted LSK tokens, with potential additional funding based on community approval.

Staking and Voting Power (Coming soon)

The Lisk staking system is designed to be a cornerstone of its on-chain governance. Token holders can stake any amount of LSK tokens for a duration ranging from 2 weeks to 2 years. This staking mechanism not only grants voting power but also provides staking rewards. Voting power is proportional to the amount of tokens locked and the locking duration, with an option to boost it by pausing the locking period, potentially increasing it by up to 200%.

Earn Staking Rewards

To incentivize participation, 24 million LSK tokens are allocated as rewards over the next three years. Rewards are calculated daily based on the staked amount and remaining locking duration, with longer commitments yielding higher rewards. Users can claim their staking rewards at any time, either receiving them directly or re-staking them to increase their locked amount and boost their voting power.

Lisk L2 Grant Program: Helping You Get Started

We can't wait to welcome developers to launch on Lisk L2! We have designed our Grant Program to drive innovation within the Lisk ecosystem, offering up to $100,000 in funding along with invaluable resources and mentorship.

Grant Program Structure:

  • Tier 1 - The Bootstrap Grant: Up to $4,000 USD for early-stage projects to establish proof-of-concept applications.
  • Tier 2 - The Builder Grant: Up to $16,000 USD for projects ready for significant expansion, focusing on developing a robust MVP, initial branding, and community building.
  • Tier 3 - The Booster Grant: Up to $80,000 USD for mature projects with an MVP or live application, providing support for scaling and preparation for investor engagement.

Our Grant Program offers financial support, resources, and mentorship for projects contributing to the Lisk ecosystem, particularly in Real World Assets (RWA), DePIN, and on-chain finance. Additionally, the Lisk L2 Grant Program includes opportunities for retroactive funding through the Optimism Superchain's Retroactive Public Goods Funding and Lisk’s own future program, rewarding projects based on their demonstrated impact.

Join the Revolution

The launch of the Lisk Developer Mainnet is a significant milestone in the blockchain landscape, offering developers and users a plethora of new opportunities. With our focus on Real World Assets, DePIN, and on-chain finance, we are well positioned to become the entry door to the Optimism Superchain in emerging markets and beyond.