Demex Daily #89: Starkware Plans 12% Yield Staking for STRK Token Decentralization
What’s Interesting Today:
Starkware has introduced a staking mechanism for its Starknet token (STRK), with the possibility of holders making upwards of 12% annually. This initiative is part of the strategy to further decentralize its Ethereum layer 2 network using a proof-of-stake system, enabling STRK holders to contribute to network security and receive additional tokens. The proposed system limits STRK inflation to 4% per year, with the staking rewards varying based on the total amount staked from the available 10 billion tokens. The staking proposal is currently under community examination and awaits a governance vote for activation.
Sei, a Layer 1 blockchain, has upgraded its Devnet to support Ethereum Virtual Machine (EVM) compatibility, enabling developers to deploy EVM-compatible applications like Uniswap and Aave. This development could lead to a more robust ecosystem on Sei's platform. The SEI token has seen a 25% increase in the past week, now valued at $0.75, and has entered the top 50 digital assets with a $1.8 billion market cap. While Sei's mainnet, launched in August, is not yet EVM-compatible and faced some initial airdrop-related user disappointment, the project aims to integrate the best features of Ethereum and Solana. Multicoin Capital, an investor in Sei, sees potential in Sei's design for EVM developers.