Layer 2 Network Starknet has announced its first mainnet vote for its token holders.
In an X post published Tuesday, August 20, the project’s team revealed that the vote would be on a proposal that determines the specifics of the platform’s staking mechanism and lays the foundation for a complete staking launch by October.
The staking proposal, introduced by StarkWare Co-founder Eli Ben-Sasson, highlights a phased approach to integrating staking into the ecosystem. If approved, the firm will launch a testnet for staking in September, followed by a mainnet launch during the fourth quarter of this year.
The team noted that there will be test voting process that will span for three days, from September 2–4, 2024. Then, the voting period will last for 5 days, from September 9–13. Also, the voting will occur on the Governance Hub, where users will be able to delegate or self delegate and cast their votes.
The Starknet team noted that STRK token holders could voice their opinions on the proposed minting mechanism and the conditions for adjusting its parameters.
StarkWare originally announced plans to introduce staking in July, explaining that token stakers would need to connect their accounts to Starknet, engage the staking contracts, and follow the proposed protocol rules. Eventually, the network aims to enable stakers to attest to block content and participate in sequencing and proving activities, helping to safeguard the ecosystem.
The protocol’s announcement got mixed reactions from the crypto community, with many expressing excitement about the development. One commenter praised Starknet for always being a step ahead, while another stated that this is precisely “how DeFi should work!”
This latest development comes just months after Starknet launched its STRK token airdrop. However, the February 2024 airdrop faced criticism, as many participants complained about unfair conditions. As a result, the platform’s network activity declined by 57% compared to the previous week.
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