Starknet Gears Up For Decentralization With Upcoming STRK Staking Protocol

Vitalik Buterin, an early investor in StarkNet, recently unlocked 1.268 million STRK tokens from the Starknet LockedTokenGrant contract, valued at approximately $470,000.

Currently, he holds a total of 2.113 million STRK tokens, worth around $781,000, making STRK his most valuable token outside of ETH. As StarkNet approaches the launch of its staking protocol, these developments mark a significant step in the network’s decentralization journey.

Vitalik Buterin: 0x22…3A9D unlocked 1.268m STRK from the Starknet LockedTokenGrant contract at 13:15 UTC+8 today, worth about $470,000. Vitalik Buterin currently holds a total of 2.113m STRK, worth about $781,000, which is his most valuable token besides ETH. Vitalik Buterin is…

— Wu Blockchain (@WuBlockchain) September 4, 2024

StarkNet is preparing to introduce a permissionless on-chain staking protocol, complete with stake delegation. This upcoming feature will allow anyone holding STRK to contribute to network security while earning rewards. The first phase of staking is set to go live in Q4 2024, offering the community an opportunity to engage with the network in a new and meaningful way.

The initial phase of staking is designed to lay the foundation for the protocol, ensuring a smooth and secure rollout. Participants can join as either Stakers or Delegators.

Stakers, who are required to run a full node and stake at least 20,000 STRK, will play a crucial role in maintaining and securing the network.

Delegators, on the other hand, can simply delegate their tokens to a chosen staker through a straightforward transaction on the official user interface or other decentralized application UIs.

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