Starknet (STRK) Community Approves New Staking Mechanism and Minting Plan

• Starknet (STRK) community members have approved a proposal that introduces several innovations.
• Starknet holders voted in favor of a staking implementation plan in a significant decentralized election.
• The new mechanism allows anyone holding over 20,000 STRK to participate in staking from the fourth quarter of this year.

Starknet approves staking plan, inviting holders with significant balances to participate in network staking and earning rewards.

Starknet Community Votes for Staking Proposal

On September 13, Starknet token holders voted on an important staking proposal. The prolonged discussions and preparations, which started in July, culminated in this vote. The voting took place on the new decentralized voting platform, Snapshot X. Despite limited participation – with only 0.08% of eligible STRK holders casting votes – there was overwhelming support, with 98.94% in favor, 0.45% abstaining, and 0.61% opposing the proposal.

Details of the Staking Mechanism

The newly approved staking system enables those holding more than 20,000 STRK to participate in securing the network and earning rewards. Slated for activation in the year’s final quarter, this mechanism includes a minting process designed to reward stakers while balancing inflation expectations. This method aims to ensure that votes come from genuine community members and prevent any external manipulation through temporary acquisition of STRK tokens.

Conclusion

The approval of the staking proposal marks a significant milestone for Starknet, promising enhanced security and participation incentives for its community members. As the mechanisms roll out in the coming months, stakeholders can look forward to a more robust and decentralized network environment.