Starknet announces first phase of staking

Starknet has commenced the primary part of staking because it strikes in the 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 might be full by the top of the 12 months.

Each the testnet and mainnet for the primary part 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 top of the 12 months, Starknet acknowledged that the transition to a completely decentralized proof-of-stake community would take time.

This primary part of the STRK staking comes after a community 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 part.

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. This can embody the adoption of real-time attestations and full sequencing and proving.