STRK, the governance token for Starknet, has risen roughly 15% over the final seven days before a Tuesday vote by the protocol’s governing body on whether or no longer to implement a minting curve mechanism for fresh STRK tokens. Of the tip 100 tokens by market cap, STRK is the third-finest performer within the previous week, late SUI and QNT.

Starknet is a layer 2 network on Ethereum centered on zero-info know-how.

If handed, the minting curve mechanism would balance staking rewards with inflation administration by enabling “dynamic adjustment of the token provide consistent with staking participation charges,” consistent with the governance proposal.

STRK, which is historical to pay for network charges and affords governance rights for holders, has remained stable within the final 24 hours at 42.5 cents, per CoinGecko. The general crypto market has elevated 2.1% over that same timeframe.

Vote casting on the governance proposal comes nearly two months after Natan Granit, a product supervisor at StarkWare launched little print of the essential stage of staking in Starknet’s dialogue forums. Starkware is the software company late the L2.

Read Extra: StarkWare Proposes Staking Plans in Incremental Steps for L2 Community Starknet

Staking refers to users locking up their tokens to come by a blockchain network. Users who stake fetch rewards for helping the network protect its integrity.

The governance proposal discusses two ways to adjust the STRK minting curve. The first would advance from a monetary committee created by the Starknet Foundation, the nonprofit tasked with creating the network’s ecosystem. The 2d manner would maybe perchance maybe be to have the Starknet Foundation straight away alter the minting curve consistent with whether or no longer too out of the ordinary STRK is staked, or too tiny.

Several wallet addresses have expressed toughen, along side yurkachuma.eth, who indicated that they’d vote in favor of the proposal. On the other hand, one contend with which goes by satsgas.eth questioned the two proposed ways of changing the STRK minting curve, expressing the dearth of have confidence within the Starknet Foundation, suggesting that changes should mute advance as a outcomes of a governance point to.