Newton Gitonga
L2 platform Starknet aims to transform staking with the release of staking v2 on June 17.
The announcement highlighted that the upcoming upgrade is a crucial step for the blockchain.
The upcoming update introduces new functionalities to enrich validator incentives and improve delegator transparency.
What if staking rewards were no longer guaranteed?
What if validators had to prove they’re actually doing their job?
That’s what Starknet’s Staking V2 is about.
And it goes live tomorrow.
Here’s the alpha👇
1. What’s Staking V2 and why does it matter?
some big stuff are
That aligns with Starknet’s decentralization ambitions. The staking v2 upgrade brings two vital innovations.
First and foremost, block attestation will allow validators to randomly attest blocks during every epoch to prove their active participation.
Secondly, commission adjustments will enable validators to boost their commission while protecting delegators.
The Starkent community displayed optimism ahead of tomorrow’s mainnet release, and native STRK testifies to that with bullish price movements.
The alt eyes last month’s peak of $0.20 after gaining nearly 7% in the past 24 hours to hover at $0.1254 during this publication.
The epoch era begins with block attestation
Staking v2 will have Starknet operating in epochs- a fixed timeframe to (closely) monitor validator activity.
Block attestation is at the core of this change, requiring validators to prove continued activity by attesting to randomly designated blocks during every epoch.
That ensures that Starkent validators remain trustworthy, engaged, and online.
It is noteworthy that only active validators will enjoy staking rewards.
Also, anyone on the blockchain can view validator liveness data.
Validators and their delegators will miss the incentives upon failed attestation.
The team stated:
Only active validators will receive staking rewards, if you’re not monitoring the network, you’re leaving rewards on the table. And when a validator fails to attest, their delegators lose out too.
The best thing is that people can view the validator’s performance. Starknet allows anyone to switch whenever their validator displays inactivity.
Commission reforms with fair rewards and balanced responsibility.
The staking v1 model, which enabled validators to reduce their commission with no option to increase it, has likely proven unsustainable amid surging developer responsibilities.
Thus, staking v2 brings a fair approach and a more flexible setup using the Maximum Commission Commitment (MCC) model.
In this, validators confirm the maximum commission they can charge, and the network locks the cap through the commitment period.
Validators who wish to raise the commission should declare in advance and stay locked for a specified timeframe, up to twelve months.
Any increase must be committed in advance and locked for a set duration (up to 1 year). Once the period ends, a new commitment must be made.
That brings predictability for delegators and flexibility for validators, a fairer system for both sides.”
STRK price outlook
The altcoin hovers at $0.1254 after an impressive bullish performance in the past 24 hours.
Its daily trading volume has increased by 30% to $28.92 million, reflecting trader and investor optimism ahead of the key upgrade.
The 4H MACD confirmed buyer resurgences in STRK with green histograms and an upside crossover with the signal line.
Also, the RSI of 54 indicates more room for short-term Starkent rallies.
The post STRK price gains bullish momentum ahead of Starknet staking v2 launch appeared first on Invezz
