Governance Hub

Introduction The following vote proposal is based on SNIP 31, which outlines the vision and technical design of Bitcoin staking on Starknet. The purpose of this vote is to ratify a specific set of parameter choices (see proposal items below), operational configurations, and governance procedures required to complete the proposal and move forward with implementation. For context, here is the full SNIP abstract:

This proposal introduces a novel Bitcoin (BTC) staking mechanism on Starknet, enabling BTC holders to lock their assets on Starknet and earn staking rewards in STRK. The protocol will support a curated selection of tokenized BTC representations (“wrappers”) for direct staking on Starknet. Designed for simplicity and robustness, this mechanism operates independently of STRK/BTC exchange rates for consensus and minting. Staking pools and rewards rates for both BTC and STRK are governed by market dynamics, fostering a fair and flexible unified staking framework.

As mentioned, the vote’s scope includes the following explicit items, in the context of the full design described in SNIP 31.

Proposal Items

1. Set Alpha (BTC Staking power Weight) to 0.25

• The alpha parameter (α), which determines BTC’s weight in staking power, will be set at 0.25, giving BTC up to 25% influence in consensus power calculations.

2. Preserve STRK APR – Bitcoin Rewards via Additional Inflation

• Bitcoin staking rewards will be added on top of current STRK rewards via increased minting.
• This ensures that STRK APR remains unchanged, maintaining the current economic guarantees to STRK stakers.

3. Initial Set of Approved BTC Wrappers for Staking The following wrappers will be considered eligible for BTC staking upon launch:

• WBTC (BitGo)
• LBTC (Lombard)
• tBTC (Threshold)
• SolvBTC (Solv) The subset list enabled will be determined by technical readiness and listed by the Monetary Committee.

4. Governance of Wrapper Listing For a Bitcoin wrapper to be supported in the Staking protocol on SN, two conditions must be met:
5. It should first be approved by a community vote.
6. An onchain tx sent by the Monetary Committee enabling said wrapper in the Staking protocol.

• The Monetary Committee can enable tokens only from the voted-approved list. The considerations for approving a token should be based on the team's reputation, market, and security.
• Adding any new BTC wrappers beyond this list will require a separate governance vote.

Conclusion This vote ratifies SNIP 31, including the initial protocol parameters and governance framework around Bitcoin staking on Starknet. Please vote: For, Against, or Abstain.