Starknet Launches First Staking Vote for STRK Tokens

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by Giorgi Kostiuk

2 years ago

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  1. Staking Proposal and Phases
  2. Voting Process and Participation
  3. Community Reactions and Previous Events


    4. The Starknet project announced its first mainnet vote for STRK token holders, aiming to establish the staking mechanism and prepare for a full staking launch by October.

    Staking Proposal and Phases

    The staking proposal, introduced by StarkWare Co-founder Eli Ben-Sasson, highlights a phased approach to integrating staking into the ecosystem. If approved, the firm will launch a testnet for staking in September, followed by a mainnet launch during the fourth quarter of this year.

    Voting Process and Participation

    The Starknet team noted that the test voting process would span from September 2 to 4, 2024, followed by the voting period from September 9 to 13. The voting will take place on the Governance Hub, where users can delegate or self-delegate their votes.

    Community Reactions and Previous Events

    The crypto community responded to the announcement with mixed reactions. Some praised Starknet for being ahead of the curve, while others recalled the criticism of the February STRK airdrop for unfair conditions, which led to a 57% decline in network activity compared to the previous week.

    The new staking proposal and upcoming votes demonstrate the Starknet team's commitment to platform improvement and community engagement.

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