Last Network is an EVM backed by the Utility Chain L1. The Last design encompasses two chains, the vault layer called the Last Custody Network (LCN) and the L2 where applications and the LCN governance system reside. Vault layer governance happens on the L2 layer, which creates an economic engine that returns chain revenue back to the system participants, resulting in a lasting tokenomic architecture. LCN is a Thorchain fork. dApps will not be deployed on the LCN, it only serves as a vault layer for Last.