Starknet approved strkBTC, a stakable Bitcoin wrapper launching May 12 through SNIP-38 and SNIP-39 governance proposals.
Author: Kritika Gupta
7th May 2026 – Starknet’s community has approved two governance proposals that introduce a stakable Bitcoin wrapper to the network. The asset launches on May 12. SNIP-38 defines strkBTC, a 1:1 Bitcoin-backed asset on Starknet. SNIP-39 makes it eligible for staking under the existing SNIP-31 framework. Both proposals passed on-chain votes on May 7, according to StarkWare’s official announcement.
strkBTC allows users to hold, transfer, trade, and deploy BTC across Starknet’s DeFi ecosystem. Because it qualifies as a stakable asset, holders can also delegate it to validators and earn rewards.
High Signal Summary For A Quick Glance
GMV
@GyuhyeonYu82548
@StarkWareLtd @near_intents @xverse @twinstake_io @luganodes @UTXOmgmt Why is it that the more I support this team, the more my assets will be deleted? It's not a coincidence. For two years, I've been dealt with. It's a real case. I was led by a team of directors, and I lost about 200,000 dollars. Watch out, guys
SNIP-38 and SNIP-39 have been validated by the community, confirming: - strkBTC’s bridge architecture and initial signer set: @near_intents, @xverse, @twinstake_io, @luganodes & @UTXOmgmt - strkBTC as a stakable asset on Starknet Launch: May 12. https://t.co/aSvSue21F5
11:56 AM·May 7, 2026
SARMANS
@Sarmansclub
@StarkWareLtd @near_intents @xverse @twinstake_io @luganodes @UTXOmgmt starknet ekosistemi vites yükseltiyor strkbtc hamlesi piyasayı fena hareketlendirir mayıs ortası ortalık şenlenecek gibi duruyor takipteyiz 😼🐾.
SNIP-38 and SNIP-39 have been validated by the community, confirming: - strkBTC’s bridge architecture and initial signer set: @near_intents, @xverse, @twinstake_io, @luganodes & @UTXOmgmt - strkBTC as a stakable asset on Starknet Launch: May 12. https://t.co/aSvSue21F5
11:46 AM·May 7, 2026
Steady attention without excessive speculation.
The bridge uses a federated model. Users lock native BTC in a Bitcoin multi-signature address that five independent institutional signers control. Those signers are Near Intents, Xverse, Twinstake, Luganodes, and UTXO Management.
To mint strkBTC, a user sends BTC to the federation’s multi-sig address. Each signer independently runs Bitcoin and Starknet nodes, verifies the deposit, and co-signs a mint transaction through on-chain signature aggregation. No centralized backend sits between the signers and the chain.
To redeem, users burn strkBTC on Starknet. The signers then verify the burn and co-sign a BTC release from the multi-sig.
According to the SNIP-38 proposal, “The Federation is explicitly a transitional construct. The initial trust model requires users to trust that a threshold of Federation Members will honestly co-sign minting and burning operations.”
Under SNIP-39, holders can delegate strkBTC to Starknet validators. Each unit counts as one unit of staked BTC for reward and consensus calculations. Delegators receive the same wrapper back, so there is no rebasing or mixing of assets.
Yield comes primarily from STRK token rewards and network fees. This follows the same model that governs other staked assets under the SNIP-31 framework. Validators apply uniform commissions and unstaking delays.
This makes strkBTC one of the first BTC wrappers on any L2 to offer native staking eligibility as part of the network’s security model.
The five federation signers operate independently. Each runs its own infrastructure, including BTC nodes, Starknet nodes, and bridge scripts. A published Federation Charter sets the code of conduct for all participants.
Twinstake confirmed its role on X, stating it is “proud to be part of the strkBTC Federation, one of five institutions backing the infrastructure that brings native Bitcoin to Starknet.” Luganodes also confirmed its participation as a federation signer on the same day.
The design is explicitly not trustless. Users must trust that a threshold of signers will act honestly. The team has not publicly disclosed the exact threshold, such as 3-of-5 or 4-of-5.
Starknet’s roadmap outlines a move to BitVM in Phase 2 and OP_CAT-enabled trust-minimization in Phase 3. The team has not announced timelines for these upgrades.
Key milestones related to the strkBTC governance-to-launch pipeline
Starknet introduced strkBTC as a Bitcoin-backed asset designed to bring BTC exposure into the Starknet ecosystem.
The governance proposals were submitted to formalize strkBTC’s framework and related staking mechanics.
Starknet community members began voting on the proposals, moving the launch path into formal governance review.
The governance vote was validated, confirming community approval and clearing the final proposal stage before launch.
strkBTC is scheduled to go live, marking the shift from governance approval to ecosystem availability.
strkBTC enters a competitive market. wBTC relies on a single custodian and has faced trust concerns. tBTC offers a more decentralized alternative. Coinbase backs cbBTC. Each approach carries different trust assumptions and trade-offs.
strkBTC sets itself apart in two ways. First, it offers native staking eligibility on Starknet. Second, it can benefit from Starknet’s STRK20 privacy standard, which enables encrypted balances on the ZK-rollup.
strkBTC vs. wBTC vs. tBTC vs. cbBTC
Several key details remain unclear ahead of the May 12 launch. The team has not disclosed the exact multi-sig threshold. Mint and redemption fee structures are not yet available. No third-party auditor has published a review of the bridge contracts.
The proposals do not detail insurance or fund-protection mechanisms. The timeline for Phase 2 (BitVM) and Phase 3 (OP_CAT) upgrades also remains open-ended.
Some community members on X have raised bridge-risk concerns. They cite smart-contract risk and protocol-level risk on top of the Bitcoin custody layer. These are valid considerations for any federated bridge design, though no coordinated criticism has formed.
strkBTC goes live on May 12, 2026. StarkWare and the community are organizing global watch parties in London, New York, Bengaluru, and other cities to mark the launch.
After launch, users can track bridge activity and contracts on Starkscan and Voyager. The governance proposals did not reference any testnet deployments.
The votes represent a concrete step in Starknet’s effort to attract Bitcoin liquidity to its L2. Whether strkBTC gains meaningful traction will depend on launch execution, DeFi integrations, and the community’s confidence in the federation model.
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