Starknet token staking proposed to hit mainnet by Q4 2024
Quick Take Native token staking has been proposed to come to Starknet by the end of this year. Pending community approval, Starknet token staking may go live on testnet soon. Under the current proposal, there would be a 21-day time-lock period before funds could be withdrawn.
Native token staking is expected to be introduced to Starknet by the end of this year.
Core developer StarkWare has submitted the Starknet Improvement Protocol (SNIP) to enable staking on the network, CEO Eli Ben-Sasson at EthCC on Wednesday.
If approved by the community, staking may be launched on the testnet soon, with a planned mainnet release in Q4 2024.
"As Starknet continues its decentralized journey, StarkWare is excited to propose the first stage of staking," a SNIP proposal reads, continuing: "This is an important step in building the staking community and technology, offering new opportunities for users and developers. The first stage of staking should be ready to launch on Starknet mainnet in Q4 2024, featuring a permissionless on-chain staking protocol and stake delegation."
If the proposal is passed, users can delegate to a staker or be stakers themselves — with rewards proportional to the amount being staked and based on a variation of a proposed minting curve published in February.
There would also be a 21-day time-lock period before funds could be withdrawn.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Hyperliquid launches native token HYPE
Ethena and Securitize propose USDtb for Spark’s $1b Tokenization Grand Prix
Standard Chartered Analysts Predict Stablecoins Will Represent 10 Percent of US Economy in the Future!
Analysts at Standard Chartered and Zodia Markets predict that stablecoin adoption will see significant growth, potentially representing 10% of US M2 transactions in the future.
Is $100,000 the Limit in the Bitcoin Rally or Will It Continue? Here’s a Clear Opinion for the Top
While the Bitcoin price has reached the $100,000 limit, the questioning of what goes beyond this level has begun. Here are the details.