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Market News

Starknet Community Votes on STRK Fee Payment Upgrade

Written By Gabriel Mael
Published January 5, 2024 12:21 AM
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Starknet Community Votes on STRK Fee Payment Upgrade

Starknet, an Ethereum Layer 2 validity rollup, has opened a community vote to determine the fate of a significant upgrade: Allowing payments for transaction fees using STRK, its token.

The change, being checked for now as part of the 0.13.0 version, would create a two-payment system where people can pay with either STRK or ETH coins.

Even though STRK hasn’t started yet, the voting process is happening using a system where others vote for them.

Starknet Foundation has already given voting rights to a wide group of independent delegates, making sure that the community is represented even before they release their tokens. This method deals with worries about token owners not having voting power before the free giveaway.

Starknet is asking all the people in its group to join talks and share their views on any changes they want, no matter if they’re picked or not. The community forum is a place for people to talk and listen.

The voting period is open from January 4th at 7:From midnight to January 8th, you can access this via the Starknet Governance Hub.

It’s time to vote on moving Starknet v0.13.0 from testnet to mainnet! Delegates, cast your votes between January 4th at 12pm UTC- January 8th at 12pm UTC on the Starknet Governance Hub🗳️https://t.co/auNWrOMyov

We encourage ALL members of the Starknet community to join the… pic.twitter.com/VWzHcDmFfs

— Starknet (BTCFi arc) 🥷 (@Starknet) January 4, 2024

Potential Impact on STRK Issuance

The fast effect on STRK making is unknown, but the vote’s result could greatly affect if and how easily this token gets started in Starknet. As people in the community talk and choose, excitement builds for STRK’s possible release on mainnet.

The focus will stay on Starknet’s pledge to community control and how it affects the use of their native token.

Also Read: ARK 21 and Bitcoin ETF Ushers in New Crypto Investment Era

Disclaimer: The information researched and reported by The Crypto Times is for informational purposes only and is not a substitute for professional financial advice. Investing in crypto assets involves significant risk due to market volatility. Always Do Your Own Research (DYOR) and consult with a qualified Financial Advisor before making any investment decisions.

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TAGGED:Ethereum (ETH)
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