Starknet unveils first voting proposal to bring staking to STRK holders

Starknet has announced the first mainnet vote for STRK holders and plans to potentially launch staking in October.

StarkWare-developed layer-2 network Starknet (STRK) is preparing to introduce staking to its ecosystem, starting with the first mainnet vote for token holders. The proposal, revealed in a post on X on August 20, will outline the details of the staking mechanism and is expected to pave the way for a full staking launch by October.

First vote on Mainnet for STRK Owners 🗳️

The first voting proposal is here, bringing STRK staking to the Starknet ecosystem!

STRK holders will have the opportunity to voice their opinions on the proposed printing mechanism and the conditions for changing this mechanism.

— Starknet 🐺🐱 (@Starknet) August 20, 2024

The proposal, submitted by StarkWare co-founder Eli Ben-Sasson, outlines a phased approach to introducing staking on the network. If approved, a testnet for staking would go live in September, followed by a mainnet launch in the fourth quarter of this year.

The proposal details two key aspects that STRK holders will vote on: the minting mechanism and the protocol for changing its parameters. The voting process is designed to give the community a direct say in the staking setup, including how rewards are distributed and how the system can be adjusted over time.

The first test vote will take place from September 2-4, followed by the primary vote from September 9-13 at the Starknet Admin Center.

StarkWare announced its staking plans in July, saying that stakers will first need to connect to Starknet, interact with staking contracts, and follow the proposed protocol rules to stake. Eventually, the ecosystem plans to allow stakers to approve block content and participate in sequencing and proof-of-stake activities to secure the network.