StarkNet Community Approves STRK Token Fee Payments

The Ethereum-based layer-two solution StarkNet is set to deploy its Alpha v0.13.0 update on the mainnet, with 99.86% of voting delegates supporting the upgrade.

The voting for @Starknet Alpha v0.13.0 has concluded, and the result is overwhelmingly in favor, with an impressive 99.86% approval rate! pic.twitter.com/7H6T0btbhk

— Starknet-Ecosystem.com ✨ (@StarknetEco) January 8, 2024

The update introduces the ability to pay transaction fees using native STRK tokens alongside ETH.

In December 2023, the project team confirmed rumors of an upcoming airdrop of the network’s asset. It was reported that 50 million STRK would be distributed among early users. However, developers previously postponed the initial token unlocking to April 2024.

The implementation of v0.13.0 is expected to reduce computation costs in the network by approximately 50%, as well as decrease base layer data access costs by 10-25%. For ERC-20 standard transfers, the fee reduction will be around 25%.

The Starknet Foundation, which is responsible for StarkNet’s development, plans to allocate 1.8 billion STRK for various initiatives, including network discounts for users.