Starknet launched its staking program for STRK tokens, becoming the first ethereum Layer 2 network to allow staking, according to a Nov. 26 statement shared with cryptoslate.
The program aims to empower token holders to participate in securing the network while earning rewards.
In this initial phase, token holders with at least 20,000 STRK can stake directly on the network. Those with fewer tokens can delegate their holdings to validators. Both groups will face a mandatory 21-day lockout period to cancel the stake, and rewards will be distributed proportionally based on the amount staked.
Meanwhile, Starknet is also encouraging participants to use staking-enabled wallets, paving the way for broader institutional and retail adoption.
Eli Ben-Sasson, CEO of StarkWare, said the launch of the bet is an important moment for the network. He emphasized that the staking initiative shows the potential of blockchains to handle growing demand through accumulations.
This milestone follows Starknet's recent achievement of processing 857 transactions per second, setting a benchmark for other ethereum layer 2 solutions.
Bitwise joins one of the first validators
According to a report dated November 26 <a target="_blank" href="https://x.com/BitwiseInvest/status/1861424594034491793″>advertisementCryptocurrency investment company Bitwise has become one of the first validators of the Starknet staking program.
The bitcoin ETF issuer stated that its Bitwise Onchain Solutions, known for its extensive experience in betting on ethereum, will support betting on STRK. The company has offered a public validation address that allows STRK holders to easily delegate their tokens to the platform.
The company explained that it sees Starknet as a suitable option to expand its Layer 2 network staking products, citing the network's role in advancing blockchain technology through innovations such as ZK-STARK and its Cairo programming language. .
Hong Kim, CTO bit by bit saying:
“For years, Starknet has been pushing the boundaries of scalability and security with ZK-STARK and its native smart contract language, Cairo. “This network has contributed a lot to the ethereum community and at the same time remains committed to its vision of building a more accessible, transparent and sovereign Internet, the 'Integrity Web'.”
