Starknet token holders have completed voting for mainnet token staking according to recent reports.
The network initiated its first governance voting on September 9.
Ethereum Layer-2 Starknet has been debating the idea of token staking for several months. Leading blockchain ecosystems such as Solana, Ripple, and TON allow staking for token holders. In the last few hours, following a governance voting, Starknet has finally approved mainnet token staking.
Notably, the voting went live on September 10 and token holders voted on several specifications within staking. The vote saw immense support for STRK staking, where 98.94% of holders voted for the motion. Additionally, 0.61% of holders voted against staking and 0.45% abstained.
Moreover, in the new mechanism users who hold more than 20,000 STRK can stake their tokens on the mainnet for rewards. Apart from this, the network has also made modifications to new tokens’ minting mechanisms. Additionally, the current mainnet staking has been highly anticipated by the web3 community.
Recently, on September 9 Starknet announced the occurrence of its first community governance voting. In order to power the governance and its mechanisms Starknet has partnered with Snapshot X, a governance protocol that aims to streamline and enhance the network’s governance.
Starknet (STRK) Price Overview
In the last 24 hours, amid the governance voting, the Starknet token began showing upward movements in price. STRK recorded a 1.12% increase in price as per CMC data. However, the token’s daily trading volume dipped by 16.13%. At the time of writing, the token was trading at $0.3982.
Zooming out, over the past week, STRK shows a modest price dip of 2.42%. At the beginning of the week, Starknet traded at $0.4066 after which it showed upward price movements. The token hit a weekly high of $0.4442 on September 7, this was followed by token downward movements until the last 24 hours.
Meanwhile, other cryptocurrencies such as Bitcoin and Ethereum have shown struggles to sustain the previous day’s positive momentum and witness price breakouts.
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