{"id":29198,"date":"2024-09-13T20:00:24","date_gmt":"2024-09-13T17:00:24","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=29198"},"modified":"2024-09-13T16:00:22","modified_gmt":"2024-09-13T13:00:22","slug":"starknet-staking-vote-approved","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/starknet-staking-vote-approved\/","title":{"rendered":"StarkNet Staking Vote Approved"},"content":{"rendered":"<p>Starknet will implement a dynamic minting mechanism for STRK tokens, balancing staking incentives and token supply with community support.<\/p>\n<p>The Starknet community overwhelmingly approved a new staking mechanism proposal that includes a dynamic minting curve for STRK tokens. With 98.94% of the votes in favor, it marks a significant milestone in the network\u2019s long-term efforts to balance token supply while incentivizing staking.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/starknet-staking-vote-approved\/#StarkNet_New_Minting_Mechanism\" title=\"StarkNet New Minting Mechanism\">StarkNet New Minting Mechanism<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/starknet-staking-vote-approved\/#StarkNet_Community_Feedback\" title=\"StarkNet Community Feedback\">StarkNet Community Feedback<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"StarkNet_New_Minting_Mechanism\"><\/span>StarkNet New Minting Mechanism<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The minting curve, which is at the core of the approved proposal, is based on Professor Noam Nisan\u2019s \u201cProposal 2\u201d with some minor changes.<\/p>\n<p>This feature allows the STRK token supply to be adjusted according to staking participation rates to control inflation. Tokens will be minted proportionally to staking levels on the network.<\/p>\n<p><em>You may also be interested in: <a href=\"https:\/\/coinengineer.net\/blog\/what-is-fractal-coin\/\">What is Fractal Coin?<\/a><br \/>\n<\/em><\/p>\n<p>The minting rate (M) will be determined using the staking rate (S) and a constant (C), initially set to 1.6.<\/p>\n<p>Adjusting the Minting Parameters<\/p>\n<p>The Starknet Foundation or an appointed monetary policy committee will have the authority to change the value of the minting constant (C) between 1.0 and 4.0. This constant can be increased to lower C when staking levels are too high or to increase incentives when participation decreases. These adjustments will be made in accordance with the principle of transparency; each change will be announced and justified in the community forum two weeks in advance.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"StarkNet_Community_Feedback\"><\/span>StarkNet Community Feedback<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>While community feedback was largely positive, a small segment, representing 0.61% of the votes, opposed the proposal. While an acceptance rate of almost 99% does not fully reflect the voting power of all token holders, 79.65% of the total voting power, or 1.4 billion STRK tokens, contributed to the decision.<\/p>\n<p>This proposal comes just a month after Starknet-backed ZKX Protocol shut down its services due to \u201clow\u201d network participation.<\/p>\n<p>With the new minting curve integration, activity and interaction levels are expected to increase as staking incentives can be adjusted based on user participation in the network.<\/p>\n<hr \/>\n<p><em>You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0<a href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Telegram,\u00a0<\/strong><\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>YouTube<\/strong><\/a>,\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/coinengineers\"><strong>Twitter<\/strong><\/a>\u00a0channels for the latest news and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Starknet will implement a dynamic minting mechanism for STRK tokens, balancing staking incentives and token supply with community support. The Starknet community overwhelmingly approved a new staking mechanism proposal that includes a dynamic minting curve for STRK tokens. With 98.94% of the votes in favor, it marks a significant milestone in the network\u2019s long-term efforts<\/p>\n","protected":false},"author":6,"featured_media":13124,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[474,8611,8610],"class_list":["post-29198","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-genel","tag-starknet","tag-starknet-minting-vote","tag-starknet-vote"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>StarkNet Staking Vote Approved - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/starknet-staking-vote-approved\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"StarkNet Staking Vote Approved - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Starknet will implement a dynamic minting mechanism for STRK tokens, balancing staking incentives and token supply with community support. 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