Starknet has launched Bitcoin, so that BTC holders can participate in network consensus and earn rewards from 30 September.
Summary
- Bitcoin contributes 25% of the network consensus, with STRK retaining the remaining 75%.
- WBTC, LBTC, TBTC and SOLVBTC are supported in the launch; Extra wrappers can be added by governance.
- The distinctive period is reduced from 21 days to 7 days, and validators can immediately use BTC delegation pools.
Starknet (Strk) has officially integrated Bitcoin in his procrastination mechanism, which allows BTC holders to participate in network consensus and earn rewards. The upgrade went live today, with rewards that start on September 30.
Under the new system, Bitcoin contributes 25% of the removal of the network, while the native token of Starknet, STRK, the remaining 75% is responsible. Supported BTC wraps in the launch include WBTC, LBTC, TBTC and SOLVBTC, with the possibility that extra wraps are added via governance.
The upgrade also reduces the disruptive period from 21 days to 7 days and offers strikers more flexibility and faster access to their funds. Validators can now implement BTC delegation pools and builders can start the function immediately.
This development follows the ratification of the StarkNet improvement proposal 31 (SNIP-31) by the Community on August 21, which laid the foundation for Bitcoin set on the network. Approved by 93% of voters, SNIP-31 has determined the Governance framework with which BTC and STRK can co-exist in network consensus, so that BTC assigns a maximum of 25% expanding power while STRK keeps control in the majority. It also laid down rules for Tokenized BTC wraps and outlined security measures to ensure that the postponement mechanism has a reliable effect.
Bitcoin’s rise
The launch of Bitcoin setting on Starknet reflects the wider growth of BTCFI, whereby BTC is increasingly being used in Defi to earn rewards, to participate in Governance and Power Cross-Chain applications above simple holding or trade.
Remarkable, Crack Recently collaborates with Babylon Labs to offer Bitcoin strike services. Users can enter their BTC directly Crack And earn rewards in Babylon’s native token, baby, without having to pack or bridge their assets.
