CDS Crypto News Starknet Staking to Launch on Mainnet in Q4 — EthCC Announcement
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Starknet Staking to Launch on Mainnet in Q4 — EthCC Announcement

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Starknet Staking to Launch on Mainnet in Q4 — EthCC Announcement

Starknet Staking Set for Mainnet Release in Q4, EthCC Confirms

Starknet Staking– According to a press release shared with Cointelegraph, the upcoming Starknet improvement proposal (SNIP) will allow users to become stakers if they hold the minimum required staking amount or if they delegate their tokens to an existing staker.

Staking Rewards and Minting Curve

Users involved in staking, either directly or through delegation, can expect proportional rewards based on the amount they stake. These rewards will follow the minting curve proposal, which was well received by the Starknet community and published in February.

The minting curve mechanism proposes that the more tokens staked, the higher the total minting rate. However, the staking reward as a percentage of the staked amount decreases. This approach aims to balance encouraging participation, managing inflation, and ensuring enough STRK tokens are available for other network activities.

Balancing Participation and Inflation

Ben-Sasson elaborated on the minting curve mechanism, stating, The core idea is to strike a balance, encouraging participation while keeping inflation in check, and ensuring enough STRK tokens are available for other network activities. This balance is crucial for the long-term sustainability and growth of the Starknet ecosystem.

Phased Rollout of Starknet Staking

According to the press release, Starknet staking will be introduced in several stages. Initially, stakers will need to connect to Starknet, interact with staking contracts, and adhere to protocol staking rules.

Running Full Nodes for Validation

In the early phase, stakers will be required to run full nodes in preparation for future validation activities. This step is crucial to ensure the network’s integrity and security.

Analyzing Onchain Data

During this initial stage, the StarkWare team, Starknet Foundation, and the community will closely analyze onchain staking data. This analysis will help refine the technical and economic parameters needed for future updates and improvements.

Starknet Foundation Allocates 20 Million STRK Tokens to Accelerate Network Development

On May 28, the Starknet Foundation unveiled plans to allocate 20 million Starknet (STRK) tokens to the most promising projects operating on its network.

Diego Oliva, CEO of the Starknet Foundation, explained to Cointelegraph that the distribution criteria were carefully chosen, encompassing a diverse set of metrics under their Catalyst program.

The Catalyst initiative functions as a grant program designed to accelerate the advancement of Starknet’s Ethereum layer-2 solution, leveraging zero-knowledge rollup technology.

For the latest in crypto updates, keep tabs on Crypto Data Space.

Starknet Staking to Launch on Mainnet in Q4 — EthCC Announcement

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