Bitwise Onchain Solutions to Provide Non-Custodial Staking for Starknet
Starknet is breaking new ground on November 26 by becoming the first Ethereum Layer 2 platform to allow staking for its native token, STRK. This exciting development opens up new possibilities for users of the platform, who will be able to earn rewards by participating in the staking process.
Staking is a way for users to contribute to the security and operation of a blockchain network by locking up their tokens in a staking contract. In return, they receive rewards in the form of additional tokens. This helps to incentivize users to hold onto their tokens and participate in network governance.
Starknet’s decision to introduce staking for the STRK token is a significant step forward for the platform. It will not only provide users with a new way to earn rewards, but also help to secure the network and promote continued growth and development.
Users who are interested in staking their STRK tokens on Starknet will need to follow the platform’s guidelines and requirements for participation. This may include holding a minimum amount of tokens, locking them up for a set period of time, and following specific instructions for participating in the staking process.
Overall, the introduction of staking on Starknet is an exciting development that showcases the platform’s commitment to innovation and user engagement. By allowing users to earn rewards for participating in network security, Starknet is setting a new standard for decentralized platforms on the Ethereum network.
