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Starknet Eyes STRK Staking in 2024

If approved by the community, staking could go live in Q4 on mainnet.
William M. Peaster William M. Peaster Jul 10, 20241 min read
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Starknet Eyes STRK Staking in 2024

Starknet, the Layer 2 network on Ethereum, is on pace to launch staking for its STRK token by the end of 2024. The developer firm StarkWare announced the news at the Ethereum Community Conference (EthCC) in Brussels, Belgium.

What's the scoop?

  • StarkWare CEO Eli Ben-Sasson has presented a Starknet Improvement Proposal (SNIP) to the community, suggesting the introduction of staking. If approved, a testnet for staking will go live soon, with a mainnet launch planned for Q4 2024.
  • Under the proposal, users can choose to become stakers, locking their STRK tokens for at least three weeks. Rewards will be proportional to the amount of STRK staked.
  • Staking is planned to be introduced in multiple phases. In later stages, stakers will provide real-time attestations to block content and facilitate sequencing and proving processes to secure the network.

Bankless take:

The proposal to launch Starknet staking marks the latest big step in the L2’s journey toward decentralization. The endgame for Ethereum’s top scaling solutions is to become entirely self-sufficient and community-steered, and token staking is a key milestone on that path. In the meantime, some open questions remain, like what will be the minimum amount of STRK required to stake. With testnet staking just around the corner now, though, we should have more answers in short order.

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William M. Peaster

Written by William M. Peaster

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William M. Peaster, Senior Writer, has been with Bankless since January 2021. Immersed in Ethereum since 2017, he writes the Metaversal newsletter on the onchain frontier, covering everything from AI projects to crypto games, as the team’s lead NFT analyst. With a background in creative writing, he writes fiction and publishes art on Ethereum in his free time. He lives in Washington.

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