Starknet, the second-layer expansion solution for Ethereum, has passed a governance vote and approved the launch of the staking function within its network, and will pay rewards to stakers based on the total number of pledged tokens.
Earlier today, a governance proposal "SNIP 18" submitted by StarkWare core developers was approved by the majority of STRK token holders, but only 0.08% of eligible voters holding Starknet's native token STRK participated in the vote. . With the approval of the proposal, Starknet’s token staking function may soon be launched on the testnet, and then officially launched on the mainnet in the fourth quarter of this year.
Starknet will allow token holders holding at least 20,000 STRK to become stakers, and others can delegate to them. The vote also approved a minting mechanism designed to balance staker rewards with inflation expectations. Additionally, stakers will face a 21-day lockup period before withdrawing funds.
StarkWare said the staking governance vote is a step toward further infrastructure decentralization. StarkWare CEO Eli Ben-Sasson said:
“This is a historic milestone for Starknet towards full decentralization. As one of the first Layer 2s to offer token holders this opportunity, we are gradually moving towards a network that is fully operated and managed by the community. "
Going forward, the network plans to introduce additional governance features and staker responsibilities in phases, including the potential role of stakers in the decentralized network ordering gas and provers.
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