Staking is coming to Starknet, marking a monumental milestone for the network!
As your trusted DeFi platform on Starknet, Nimbora is here to break down everything you need to know about this game-changing development.
What does staking STRK on Starknet involve?
Staking in general involves locking up a certain number of your tokens, to support the operations of specific network.
Staking on Starknet involves locking your STRK tokens in the Starknet staking contract to earn rewards proportional to your stake.
You can participate in two ways:
- As a Staker: You'll need to run a full node and stake a minimum of 20k STRK.
- As a Delegator: You can delegate your STRK tokens to a staker without running a node yourself.
Why is Staking a Milestone for Starknet?
Staking is set to revolutionize Starknet in several ways:
- Enhanced Security and Decentralization: Staking incentivizes wider participation in network security.
- Improved Efficiency: It aligns economic interests for a more robust ecosystem.
- Pioneer in L2: Starknet is the first Layer 2 solution to implement staking
- New STRK Utility: Staking adds new use cases for STRK, including gas fee payments and future governance rights.
Starknet Staking Implementation
Starknet is taking a measured approach to implementing staking:
- Stability First: The goal is a reliable Proof-of-Stake (PoS) mechanism for the long term.
- Phased Rollout: Features will be introduced in manageable milestones.
- Continuous Refinement: This approach allows for issue resolution and participant adaptation.
How to Stake $STRK on Starknet
Once live, you can stake through:
- The official Starknet UI
- Various dApp interfaces (wallets, explorers, etc.)
* Note that initial staking participation excludes StarkWare, the Foundation, and locked tokens.
Nimbora Alpha🐺
Keep an eye out for Liquid Staking Token (LST) products being developed on Starknet. These will allow simultaneous participation in staking and Starknet DeFi!
Important Staking Details
- Lockup Period - 21 days for unstaking (no rewards during this period).
- Flexible Delegation - Delegators can change their delegate anytime without lockup.
- Minting Curve - Adapts to market conditions, balancing rewards and inflation.
- Inflation Cap - Between 1.8% and 2.5%.
Starknet Staking Timeline
- Testnet Launch: September 2024
- Mainnet Launch: October 2024
Future phases will include:
- Voting power implementation
- Block attestation
- UI improvements
STRK Staking on Nimbora
In a recent STARK Spaces, our founder Edi Sinovcic shared exciting insights into how Nimbora is simplifying DeFi and preparing for the upcoming STRK staking launch on Starknet:
Quoted from 'STRK Staking and Self-Custodial Savings' article on
Nimbora blog.
We are super thrilled about the opportunities Starknet staking brings to the Nimbora users!
- Enhanced Yield Opportunities: We're exploring ways to integrate staking rewards with our existing yield strategies.
- Liquid Staking Solutions: We're developing products to allow users to stake while maintaining liquidity.
- User-Friendly Interface: Our platform will offer an easy way to participate in Starknet staking.
- Educational Resources: We'll provide guides and support to help our users make the most of staking.
More information about Starknet staking on Nimbora is coming soon!
GET $STRK ALPHA!
Join our Discord server to share feedback, get support, and stay updated on the latest developments about Starknet staking on Nimbora.
Starknet Staking: Additional resources
About Nimbora
Nimbora is a Starknet-based omnichain 1-click yield strategy platform that enables users to engage with Layer 1 protocols at a fraction of the cost. Discover the best of Ethereum protocols and optimize your DeFi strategies with Nimbora.
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