Back

Starknet Approves SNIP-31 Proposal to Enable Bitcoin Staking

The community vote sets parameters for BTC staking at 25% of consensus power, supporting multiple wrapped Bitcoin assets and new governance rules ahead of network decentralization.

BTC
WBTC
LBTC

Summary

The Starknet community has approved the SNIP-31 proposal, introducing Bitcoin staking with a weight of 0.25, allowing up to 25% of consensus power allocation. Supported assets will include WBTC, LBTC, tBTC, and SolvBTC, with governance procedures established for adding future wrapped Bitcoin tokens. The feature is expected to launch in the coming weeks. Starknet is also preparing for its decentralization milestone on September 1 and advancing its next proposal, SNIP-33.

Terms & Concepts
  • SNIP-31: A Starknet Improvement Proposal that introduces Bitcoin staking, setting technical parameters and governance rules for the network.
  • Wrapped Bitcoin (WBTC, LBTC, tBTC, SolvBTC): Tokenized versions of Bitcoin that can be used on blockchain networks other than Bitcoin, enabling decentralized finance applications.
  • Consensus Power: The voting or validation weight assigned to participants in a blockchain network’s consensus process, determining influence over block validation.