StarknetDAO Throws A High-Stake Vote For Epic Mainnet Protocol Upgrade

Starknet is holding a vote to transition the v0.13.0 upgrade from testnet to mainnet.

Starting from the evening of January 4th, the layer-2 Starknet began receiving votes for the proposal to deploy the major upgrade v0.13.0 to the mainnet.

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 🦇🔊 (@Starknet) January 4, 2024

Starknet Alpha v0.13.0 focuses on improving two aspects of the protocol. Firstly, integrating transaction fee payments using STRK, Starknet’s native token, alongside Ethereum (ETH) as before. Secondly, reducing transaction fees on the mainnet. This version has been deployed on the Goerli and Sepolia testnets on December 12th and 13th, 2023, respectively.

The project will conduct a referendum from 07:00 PM on January 4th to 07:00 PM on January 8th (Vietnam time). The community can contribute opinions on the Starknet Governance Hub.

In the comments section, many people express confusion about the voting process since the project has not yet issued tokens representing voting weights. However, Starknet clarifies that the proposal will be decided by delegators rather than token holders.

In the past year, the Starknet Foundation has delegated voting power to a large group of independent delegates. For the remaining community group, the project will accept the opinions of all users on the discussion forum and written announcements.

As of the early morning of January 5, 2024, 100% of the voting results are leaning in favor of the proposal.

Starknet is becoming the center of attention within the crypto community, especially after the announcement of plans for an airdrop to be implemented early this year. By the end of 2023, the project also revealed a program offering 50 million STRK as rewards for contributors to the ecosystem’s development, and a commitment to allocate 10% of network fees to developers.

* We hope this information will help you in your investment process, but this is not investment advice. Every investment carries risk, especially in this industry, so DYOR before making a decision.