According to a community post, Starkware’s decentralised autonomous organisation (DAO) is preparing for its first governance vote on a prospective protocol upgrade dubbed Starknet Alpha v0.11.0.
The intended vote will occur approximately one month after the firm Starkware, valued at $8 billion during its most recent funding round, announced its plans to open source its fundamental crypto software. Several months after the Starknet token was announced.
The Starknet DAO community will vote on each new protocol update, and a successful vote will result in the introduction of the mainnet. The voting period will last six days, beginning on March 21 via Snapshot. If the proposal is approved, the Starknet mainnet will be upgraded after the vote ends.
The independent, non-profit Starknet Foundation will delegate 33% of its total voting power in the first vote to the first-phase Builders Council and a group of delegates selected from a delegated pool.
The foundation, which seeks to assist the network in achieving its decentralisation objective, was established in November and allotted 5.01 billion Starknet Tokens, representing approximately 50.1% of the initial token supply of 10 billion tokens.
Starknet tokens were deployed on Ethereum in November but are unavailable for sale to the general public.