Sometimes we need to add record link in email template so that user can easily navigate.
Earlier {!Object.Link} was working in classic version, now It is not working in lighting , there is some idea you can vote for.
However there is a workaround to make it work.
{!MID(CustomObject__c.Link, 1, LEN(CustomObject__c.Link)-15)}{!CustomObject__c.Id}
!MID(Account.Link, 1, LEN(Account.Link)-15)}{!Account.Id}