The Onchain Foundation said it has temporarily paused LSK buybacks following the Binance attack incident and expects to resume the program next week once the situation becomes clearer. The nonprofit blockchain organization said Binance has confirmed that all funds will be covered, and it does not expect the buyback plan to be affected.
In an earlier update cited by Foresight News, Ethereum layer-2 network Lisk advised all LSK liquidity providers to temporarily withdraw liquidity from Uniswap’s ETH/LSK pool. The team said users will be notified when it is appropriate to add liquidity again. The statements place the pause in the context of short-term risk management rather than a change to the broader buyback plan.
The Onchain Foundation, a nonprofit blockchain organization, said in a post on X that it has temporarily paused LSK buybacks in response to the Binance attack incident. It said the program is expected to resume next week once the situation becomes clearer.
The foundation added that Binance has confirmed all funds will be covered, and said it does not expect the buyback plan to be affected.
In an earlier update cited by Foresight News, Ethereum layer-2 network Lisk said it had advised all LSK liquidity providers to temporarily remove liquidity from Uniswap’s ETH/LSK pool. The team said it will notify users when to add liquidity again.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
