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Starknet announces its first mainnet vote for STRK holders, which is set to introduce staking with a potential launch in October.
Starknet (<a href="https://crypto.news/price/starknet/" target="_blank" rel="noopener noreferrer nofollow">STRK</a>), the layer-2 network developed by StarkWare, is set to introduce staking to its ecosystem, beginning through its <a href="https://community.starknet.io/t/upcoming-staking-vote/114485?u=boazstark" target="_blank" rel="noopener noreferrer nofollow">first-ever mainnet vote</a> for token holders. The proposal unveiled in an Aug. 20 <a href="https://x.com/Starknet/status/1825814454623248541" target="_blank" rel="noopener noreferrer nofollow">post on X</a> will determine the specifics of the staking mechanism and is expected to pave the way for a full staking launch by October.
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 The first-ever vote on Mainnet for STRK Holders 🗳️ The first voting proposal is here, bringing STRK staking to the Starknet ecosystem! STRK holders will have the opportunity to voice their opinions on the proposed minting mechanism and the conditions for modifying its…— Starknet 🐺🐱 (@Starknet) <a href="https://twitter.com/Starknet/status/1825814454623248541?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 20, 2024</a>
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You might also like: <a href="https://crypto.news/starknet-allocates-additional-50-million-strk-to-defi-program/" rel="noopener noreferrer nofollow"> Starknet allocates additional 50 million STRK to DeFi program </a>
The proposal presented by StarkWare co-founder Eli Ben-Sasson outlines a phased approach to introducing staking on the network. If the proposal is approved, a testnet for staking will go live in September, followed by the mainnet launch in the fourth quarter of this year.
The proposal details two key aspects that STRK holders will vote on: the minting mechanism and the protocol for modifying its parameters. The voting process is designed to give the community a direct say in the staking setup, including how rewards are distributed and how the system can be adjusted over time.
The initial test vote will occur from Sept. 2-4, followed by the primary vote from Sept. 9-13, both on the Starknet Governance Hub.
StarkWare <a href="https://crypto.news/starknet-token-staking-to-start-by-the-end-of-2024/" target="_blank" rel="noopener noreferrer nofollow">announced</a> plans for staking in July, saying stakers will first need to connect to Starknet, interact with the staking contracts, and follow the proposed protocol rules to stake. Eventually, the ecosystem plans to allow stakers attestations for block content and participate in sequencing and proving activities to help secure the network.
Read more: <a href="https://crypto.news/starknet-foundation-ceo-diego-silva-to-step-down/" rel="noopener noreferrer nofollow"> Starknet Foundation CEO Diego Oliva to step down </a>

Starknet unveils first voting proposal to bring staking to STRK holders

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