A minting mechanism that strikes a balance between rewarding stakers and setting inflation expectations was also approved in the vote, StarkWare, the main developer firm behind the Starknet blockchain, wrote in a press release shared with CoinDesk.
Snapshot X determines voting power based on the voters' STRK holdings. The goal is to ensure votes are coming from genuine community members, and to prevent people outside of the community from buying STRK today, voting, and then selling the day after.
The vote, which went live on Tuesday, passed with overwhelming support, but only 0.08% of eligible voters holding Starknet's native token, STRK, participated. 98.94% voted in favor of implementing staking.
The new mechanism on Starknet means that anyone holding more than 20,000 STRK will be able to stake on the network, from the fourth quarter of this year.
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