Starknet token staking proposed to hit mainnet by Q4 2024

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The Block2024/07/10 12:31

By:The Block

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 Under the current proposal, there would be a 21-day time-lock period before funds could be withdrawn.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There would also be a 21-day time-lock period before funds could be withdrawn.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.

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