Ethereum layer 2 network Starknet, which aims to increase scalability using zk-Rollup technology, has accepted the offer to implement staking. While the ‘SNIP 18’ offer was accepted by the community by far, it was stated that the testnet is aimed to start shortly and the main network application is aimed to start in the last quarter of 2024.

Users who want to stake will have to lock at least 20 thousand STRK tokens into the system. However, a smaller number of token holders will also be able to authorise these people for staking, so that they can also perform the staking process.

In addition, a token generation/minting system was also adopted to balance token inflation and the reward mechanism.

In order for the staked STRK tokens to be withdrawn, a 21-day period must also pass after locking.

Eli Ben-Sasson, CEO of StarkWare, the developer company behind Starknet, said in a statement:

“This vote represents a very important milestone for Starknet in the transition to full decentralisation. Among tier 2 projects, we are one of the few organisations to give the community such an opportunity.”