Starknet has introduced staking for STRK tokens on its mainnet, becoming the first major Layer-2 (L2) blockchain to offer such a feature.

STRK Staking phase 1 is officially live on Mainnet!

If you want to take part in this initial phase (or in futures phases) and contribute to the decentralization of Starknet, you can now:
💠 Become a Validator: Open to everyone, this requires running a full node and staking a… pic.twitter.com/zxIIW6dQf3
— Starknet 🐺🐱 (@Starknet) November 26, 2024

Staking Details

Users can participate in staking by either becoming validators with a minimum of 20,000 STRK (approximately $11,200 at current rates) or by delegating their tokens to other network participants.

Key projects and validators, including Bitwise, zkLend, Karnot, and wallets like Argent and Braavos, have announced support for STRK staking.

Annual yields range from 4.63% to 12.27%. Withdrawing STRK tokens, including accrued rewards, takes 21 days.

Transition to Decentralization

Developers emphasized that this launch marks the first step toward building a fully decentralized Proof-of-Stake (PoS) network.

STRK Staking phase 1 is officially live on Mainnet!

If you want to take part in this initial phase (or in futures phases) and contribute to the decentralization of Starknet, you can now:
💠 Become a Validator: Open to everyone, this requires running a full node and staking a… pic.twitter.com/zxIIW6dQf3
— Starknet 🐺🐱 (@Starknet) November 26, 2024

Market Performance

Over the past 24 hours, STRK has experienced an 8% price correction, in line with broader crypto market trends.

Launch Timeline

In August, the Starknet community proposed a vote on launching staking. The vote concluded positively in September.

Notably, in November, Starknet developers announced plans to quadruple transaction processing speeds and reduce fees by 80% in anticipation of a surge in user activity.