Starknet Approves Staking Proposal with Overwhelming Majority

user avatar

by Giorgi Kostiuk

2 years ago

Made with AI

  1. Community Approves Proposal
  2. Details of the Minting Curve Mechanism
  3. Authority to Adjust Minting Parameters


    4. The popular altcoin project Starknet has approved governance proposal 'SNIP 18', paving the way for staking on its network.

    Community Approves Proposal

    The Starknet community voted overwhelmingly to implement a new staking mechanism for STRK tokens, including a dynamic minting curve. Nearly 98.94% of voters supported the proposal, which aims to balance the token supply in the network. This approval represents a significant step in Starknet’s long-term efforts to incentivize staking.

    The approval positions Starknet as the first major Ethereum L2 to initiate staking.James Strudwick, Executive Director of the Starknet Foundation

    Details of the Minting Curve Mechanism

    The minting curve feature is at the heart of the approved proposal, which builds on Professor Noam Nisan’s earlier 'Proposal 2'. This feature adjusts the STRK token supply based on staking participation levels, aiming to control inflation by minting tokens in proportion to staking activity. The minting rate (M) will be determined using a formula that scales with the staking rate (S) and a constant (C), initially set at 1.6%.

    Authority to Adjust Minting Parameters

    The Starknet Foundation or a designated committee will be able to adjust the minting constant (C) within a range of 1.0% to 4.0%. This allows them to reduce C if staking levels are too high or increase it if participation is low to encourage more staking. These adjustments will follow a strict process to maintain transparency, with any changes being publicly announced two weeks prior in the community forum.

    Feedback from the Starknet community has mainly been positive, with many supporting the balanced approach. Despite the 98.94% approval, a small minority, representing 0.61% of the votes, opposed the proposal. The decision didn’t reflect all the holders’ voting power, as only 79.65% of the total voting power (1.4 billion STRK tokens) contributed to it.

Tier I

Sector: #18291

Sealed Cache Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, caches will be stored in your inventory and can be opened with Keys.

Other news

Galaxy Announces $5 Million Funding for Bitcoin Quantum Security Research

chest

Galaxy announced up to $5 million in funding for Bitcoin quantum-security work, including developer grants, research, and an advisory council.

user avatarMaya Lundqvist

IonQ Launches Superion 256 Quantum Computer with Orders Open for 2027 Delivery

chest

IonQ has launched its Superion 256 quantum computer, opening orders for delivery in 2027.

user avatarKaterina Papadopoulou

Prediction Markets Show Shifts in Oil Price Expectations

chest

Prediction markets are reacting to oil price fluctuations, with traders speculating on whether crude will reach $120 or fall to $55 first.

user avatarAisha Farooq

Record Diesel Prices Hit Ahead of Midterm Elections

chest

Record diesel prices reached a high of 594 a gallon, raising concerns about consumer affordability ahead of the midterm elections.

user avatarLi Weicheng

Brent Crude Surpasses $100 Amid Geopolitical Tensions

chest

Brent crude oil prices rose above $100 for the first time in six weeks due to geopolitical tensions, including attacks on Saudi oil facilities and US military responses.

user avatarLeo van der Veen

OpenAI Claims to Solve Navier-Stokes Equations Amid Controversy

chest

OpenAI announced on September 8, 2026, that it has solved the Navier-Stokes equations, a significant problem in mathematics, but faces criticism from NYU mathematician Tristan Buckmaster regarding the originality of the solution.

user avatarTenzin Dorje

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.