Starknet has commenced the primary section of staking because it strikes in direction of transitioning to a completely decentralized proof-of-stake community.
On Sept. 25, the zero-knowledge rollup layer 2 community introduced that Starknet (STRK) staking had begun. The platform additionally confirmed that staking on the layer 2 community shall be full by the tip of the 12 months.
Each the testnet and mainnet for the primary section will launch within the fourth quarter of 2024, Starknet posted on X.
First Starknet governance vote
After revealing plans in July to allow staking on Ethereum’s (ETH) layer 2 community by the tip of the 12 months, Starknet acknowledged that the transition to a completely decentralized proof-of-stake community would take time.
This primary section of the STRK staking comes after a neighborhood governance vote on the proposal handed earlier this month.
The vote marked the first-ever governance course of for Starknet token holders because the token airdrop in February 2024. Notably, the approval of the vote launched Starknet’s token-minting curve – a step that set the stage for the launch of staking rewards on this first section.
Starknet’s minting curve is designed to supply future incentives for token holders to take part in community safety by means of staking whereas managing inflation. The mannequin balances staked tokens and rewards – as extra tokens are staked, the staking reward decreases.
In its phased staking mannequin, Starknet plans to evolve fundamental token staking into extra advanced performance. It will embody the adoption of real-time attestations and full sequencing and proving.