Starknet’s First Vote Introduces Staking for STRK Holders

Starknet, a leading layer-2 network developed by StarkWare, has unveiled its inaugural mainnet voting proposal aimed at introducing staking for STRK token holders. This milestone, announced on August 20, marks a significant step towards expanding Starknet’s ecosystem, with the potential for a full staking launch by October.

The proposal, presented by StarkWare co-founder Eli Ben-Sasson, outlines a phased rollout of staking. If approved, a testnet for staking will commence in September, leading to a mainnet deployment in the fourth quarter of 2024.

The voting process will determine two critical aspects of the staking framework: the minting mechanism and the protocol for adjusting its parameters. These decisions will empower the community to shape the staking system, influencing reward distribution and ensuring flexibility for future modifications.

Initial voting will occur from September 2-4, with a follow-up vote from September 9-13, both hosted on the Starknet Governance Hub. This initiative follows StarkWare’s July announcement, detailing that stakers will need to connect to Starknet, engage with staking contracts, and adhere to the proposed protocol rules. Eventually, stakers may also contribute to network security by participating in block attestation, sequencing, and proving activities.

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