Category: NFT News

Starknet To Roll Out Suite Of Fee-Saving Measures Alongside Dencun

Starknet will begin subsidizing transaction fees for users before its upgrade roll-out is complete.

Starknet, a leading Ethereum Layer 2, will introduce upgrades designed to significantly reduce transaction fees alongside Ethereum’s long-awaited Dencun upgrade.

Announced on March 12, Starknet will implement a wave of fee-saving measures in parallel to Ethereum’s March 13 Dencun upgrade through its 0.13.1 version. The Starknet Foundation said the new version will “dramatically reduce” transaction fees on the network by driving down the “data availability costs, fixed costs, and marginal costs” associated with Starknet transactions.

Starknet estimates the upgrades will double the fee savings expected to be unlocked through Dencun. While not all of the fee optimizations will be deployed on March 13, the Starknet Foundation will begin subsidizing the difference between current fees and their expected price once all of the upgrades have been activated in the future.

“To cut user fees even earlier, the Starknet Foundation is introducing its early fee-reduction effort, which aims to implement expected results of this long-term vision as early as possible,” said Eli Ben-Sasson, StarkWare’s CEO. “As part of the program, the Foundation will provide tokens to adjust transaction fees to match conservative estimates of future network fees when decentralization takes effect.”