Starknet set the time for STRK token staking: Accepted

At Starknet, which is talked about a lot with this year's airdrop, the community has accepted the staking for the STRK token. At least 20 thousand tokens are required for staking, but those with fewer tokens will also be able to authorize others. The application is aimed to start at the end of the year.

Ethereum Tier 2 network Starknet, which aims to increase scalability by using zk-Rollup technology, accepted the offer to implement the staking application. While the "SNIP 18" proposal was accepted by the community by a clear margin, it was stated that the testnet was aimed to start soon and the mainnet application in the last quarter of 2024.

Users who want to stake will have to lock at least 20 thousand STRK tokens into the system. However, fewer token holders will also be able to authorize these people for staking and thus they will be able to do the staking transaction.

However, a token generation/printing system was also adopted to balance token inflation with the reward mechanism.

In order for the staked STRK tokens to be withdrawn, a 21-day period must pass after the locking.

Eli Ben-Sasson, the CEO of StarkWare, the developer company behind Starknet, said in a statement:

“This vote represents a very important milestone for Starknet in the transition to full decentralization. We are one of the few formations among the 2nd layer projects that give such an opportunity to the community”