Starknet Community Approves STRK Token Staking Launch

StarkWare’s proposal to initiate staking for STRK tokens received overwhelming support, with 98.94% of Starknet’s L2 network users participating in the community’s inaugural vote.

The vote on the STRK staking parameters has concluded, passing with 98.94% in favor ✅

Below are the staking figures at launch, resulting from this vote.

Now it’s time to finish shipping it, see you in Q4 future stakers ? pic.twitter.com/MJPtkHadvV

— Starknet ?? (@Starknet) September 13, 2024

To become stakers, individuals must hold at least 20,000 STRK, while others will need to delegate their powers.

There is a 21-day freeze period for withdrawing assets from lock-up.

The service is expected to be implemented on the mainnet in the fourth quarter of this year.

“This is a historic milestone on Starknet’s path to full decentralization. As one of the first Layer 2 solutions to offer such an opportunity to token holders, we are moving closer to having a network that is fully governed and operated by the community,” stated StarkWare CEO Eli Ben-Sasson.

In the future, the developer team plans to introduce more governance features for stakers.

Earlier, Starknet created the Snapshot X protocol for on-chain voting without gas costs.