Starknet to launch Bitcoin staking after SNIP-31 vote passes
The post Starknet to launch Bitcoin staking after SNIP-31 vote passes appeared on BitcoinEthereumNews.com. Starknet is set to introduce Bitcoin staking after its community ratified Starknet Improvement Proposal 31. Summary Starknet approved SNIP-31 on August 21, enabling Bitcoin staking and governance rights. BTC gets up to 25% staking power, while STRK keeps majority control. The update expands BTC DeFi on Starknet, but STRK fell 6.2% after. Starknet (STRK) will introduce Bitcoin (BTC) staking to its Layer 2 network following the ratification of SNIP-31 on Aug. 21. The proposal outlines a framework for Bitcoin holders to stake tokenized assets on Starknet and take part in its consensus process. It was approved by 93% of voters. Parameters of the SNIP-31 Vote SNIP-31 establishes a unified staking system that allows Bitcoin and STRK, Starknet’s native token, to coexist in governance. BTC staking power is limited to 25% of consensus influence under the framework, with STRK keeping the remaining 75%. Through additional token issuance, the model adds new Bitcoin incentives while maintaining the current STRK rewards. A limited set of BTC wrappers, such as WBTC, LBTC, tBTC, and SolvBTC, will be supported during the initial rollout. In order to ensure security and accountability, governance regulations require that any future wrappers be approved by a community vote and enabled by the Monetary Committee. The upcoming weeks will see the official launch. Expanding DeFi opportunities on Starknet Starknet is positioning itself as a major player in the emerhing “BTCfi” sector by incorporating Bitcoin into its staking system. The move promotes cross-chain participation within the network and deepens liquidity by enabling Bitcoin holders to receive rewards in STRK. Developers expect the mechanism to be simple, secure, and independent of BTC/STRK exchange rates, reducing systemic risks. The timing comes as Starknet continues to push technical upgrades. On Sept. 1, the network will roll out version 0.14.0, introducing decentralized sequencing with Tendermint consensus, faster…
The post Starknet to launch Bitcoin staking after SNIP-31 vote passes appeared on BitcoinEthereumNews.com.
Starknet is set to introduce Bitcoin staking after its community ratified Starknet Improvement Proposal 31. Summary Starknet approved SNIP-31 on August 21, enabling Bitcoin staking and governance rights. BTC gets up to 25% staking power, while STRK keeps majority control. The update expands BTC DeFi on Starknet, but STRK fell 6.2% after. Starknet (STRK) will introduce Bitcoin (BTC) staking to its Layer 2 network following the ratification of SNIP-31 on Aug. 21. The proposal outlines a framework for Bitcoin holders to stake tokenized assets on Starknet and take part in its consensus process. It was approved by 93% of voters. Parameters of the SNIP-31 Vote SNIP-31 establishes a unified staking system that allows Bitcoin and STRK, Starknet’s native token, to coexist in governance. BTC staking power is limited to 25% of consensus influence under the framework, with STRK keeping the remaining 75%. Through additional token issuance, the model adds new Bitcoin incentives while maintaining the current STRK rewards. A limited set of BTC wrappers, such as WBTC, LBTC, tBTC, and SolvBTC, will be supported during the initial rollout. In order to ensure security and accountability, governance regulations require that any future wrappers be approved by a community vote and enabled by the Monetary Committee. The upcoming weeks will see the official launch. Expanding DeFi opportunities on Starknet Starknet is positioning itself as a major player in the emerhing “BTCfi” sector by incorporating Bitcoin into its staking system. The move promotes cross-chain participation within the network and deepens liquidity by enabling Bitcoin holders to receive rewards in STRK. Developers expect the mechanism to be simple, secure, and independent of BTC/STRK exchange rates, reducing systemic risks. The timing comes as Starknet continues to push technical upgrades. On Sept. 1, the network will roll out version 0.14.0, introducing decentralized sequencing with Tendermint consensus, faster…
What's Your Reaction?
