- Starknet has announced two major updates to its roadmap.
- The network announced that it will introduce STRK staking.
- STRK holders will be able to cast their first mainnet vote for this program.
Starknet, an Ethereum Layer 2 scaling solution, announced plans to launch STRK staking on Tuesday, marking a major milestone for the network.
As part of its development, Starknet proposed a community vote on the STRK token minting mechanism, inviting STRK holders to participate in the project’s first governance vote to take place on mainnet.
STRK Staking
In a post to X (Twitter) on August 20, Starknet said that introducing STRK staking would increase the security, decentralization, and efficiency of the network, while encouraging 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 staking a minimum of 20,000 STRK to run a full node, or by delegating tokens to a specific staker via Starknet’s UI or a decentralized application (dApp) of their choice.
While Starkware, the project foundation, and locked tokens will not participate in the initial phase of staking, Starknet said that staked STRK will be subject to a 21-day lockup period if a staker or delegator decides to unstake their tokens.
With the first phase of the program scheduled to launch on mainnet in October, Starknet is asking STRK holders to vote on two key elements: a proposal for a minting mechanism that will govern the creation and distribution of new STRK tokens as rewards, and a protocol for modifying minting parameters to balance network security and inflation.
Voting will take place in two phases, with a test period from September 2nd to September 4th. This will give STRK holders a three-day window to evaluate the voting process mechanism on the testnet before the live voting takes place on Miannet from September 9th to September 13th.
Read why restaking in Solana is key to decentralization.
Solana finally starts re-staking. Why it’s key to decentralization
Get the latest on why a Colorado pastor decided to tokenize his church building.
Colorado Pastor Tokenizes Church Building to Secure Sanctuary