PANews, October 23, reported that the Ethereum Layer 2 network Starknet stated on platform X that the first phase of STRK staking is nearing completion. The work completed in this phase includes: STRK staking contract, community governance on STRK staking parameters, and the testnet for the first phase. Ongoing work for this phase is the mainnet for the first phase, which is expected to be completed in the fourth quarter of 2024. The transition of Starknet to a fully decentralized PoS network will take time.

According to previous reports, Starknet plans to transition to a fully decentralized PoS network in four phases.