- Starknet has announced two key updates on its roadmap.
- The network said it would introduce STRK staking.
- STRK holders will conduct an inaugural Mainnet vote on the program.
Ethereum layer-2 scaling solution Starknet announced Tuesday a plan to launch STRK staking, a key milestone for the network.
Starknet has proposed a community vote on the STRK token minting mechanisms as part of the development, inviting STRK holders to participate in the project’s first-ever governance voting on Mainnet.
STRK Staking
In an X (Twitter) post on August 20, Starknet said introducing STRK staking would boost the network’s security, decentralization, and efficiency and incentivize participation in a “democratically governed ecosystem.”
“While all effects might not be immediate, step by step, Starknet moves closer to its vision of decentralization. Notably, Starknet is the only L2 to announce and implement staking so far,” the post read.
Users can participate in the staking program by running a full node with a minimum of 20,000 STRK staked or delegating their tokens to a specific staker via Starknet’s UI or select decentralized applications (dApps).
Noting that StarkWare, the project’s Foundation, and locked tokens won’t participate in the initial stage of staking, Starknet said that staked STRK would be subject to a 21-day lockup period if stakers or delegators decide to unstake their tokens.
With the program’s first phase launch on Mainnet slated for October, Starknet invited STRK holders to vote on two critical elements. These include proposals on a minting mechanism governing the creation and distribution of new STRK tokens as rewards and the protocol for modifying minting parameters to balance network security and inflation.
The vote will be conducted in two stages, with a testing period planned to run from September 2 to September 4. This would give STRK holders a three-day window to evaluate the voting process mechanism on testnet before casting live votes on Miannet from September 9 to September 13.
Read how Solana’s restaking is key to decentralization:
Solana Finally Gets Restaking: Why It’s the Key to Decentralization
Stay updated on why a Colorado pastor decided to tokenize a church building:
Colorado Pastor Tokenizes Church Building to Securitize Its Sanctuary
