New York, Thursday, October 3, 2024– Starknet has announced that it had initiated the first phase of its staking process as part of its transition to a fully decentralized proof-of-stake network.
The zero-knowledge rollup layer 2 network made the announcement on Sept. 25, confirming that the staking process will be completed by the end of 2024.
The testnet and mainnet launches for this first phase are scheduled for the fourth quarter of 2024, according to Starknet’s post on X.
This initial phase follows a successful community governance vote earlier this month, marking the first governance process for Starknet token holders since its token airdrop in February 2024.
The vote also introduced Starknet’s token-minting curve, which manages inflation by reducing staking rewards as more tokens are staked.
Starknet’s phased staking model is set to evolve, eventually incorporating real-time attestations and full sequencing.
