StarkNet’s governance vote for staking mechanism upgrade set to launch in March
StarkNet is launching a governance vote where STRK holders will decide whether to approve a major staking upgrade.
Ethereum-scaling Layer 2 Starknet (STRK) is gearing up for Staking Phase 2, a major upgrade to its staking mechanism, according to its latest announcement on X. The update will first launch on Testnet in the coming weeks, with a full mainnet rollout slated for Q2 2025.
The main change in this second phase is that validators will now be responsible for sending block attestations, confirming the validity of new blocks before they are added to the blockchain. This adds a new layer of responsibility for validators and security to the network.
The concept of block attestations has already been seen in multiple PoS-based blockchains. For example, validators in Polkadot (DOT) also participate in attestation to confirm the validity of new blocks. Polkadot’s governance also allows token holders to influence validator commissions, but validators still play main role in confirming and validating the state of the network via attestations, much like the changes Stratos is introducing.
Additionally, a fair and transparent commission increase feature will be introduced to improve economic incentives for all participants.
In addition to block attestations, a fair and transparent commission increase feature will be introduced to improve economic incentives for all participants.
STRK holders will vote on whether to approve this upgrade in two phases: a test vote slated for March 10–15, to ensure the system functions correctly, followed by the official vote slated for March 20–30, in which holders will make the final decision.
If approved, Staking Phase 2 could increase demand for STRK as more validators and delegators will want to participate in staking. If staking participation increases, it could reduce STRK’s circulating supply, potentially driving up the token’s price, which stands at $0.20 at press time, with a 24-hour trading volume of $34,700,272, according to Coinmarketcap.
