$IP — Native token of Story L1
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$IP — Native token of Story L1
The core of the IP ecosystem, $IP powers the Story L1 blockchain.
Navigating Web3 tides with focused insightsA New Asset Class Emerges in the AI Era
Intellectual property (IP) is the foundation of artificial intelligence (AI). As AI transforms industries at an unprecedented pace, IP is becoming the most important asset class of the 21st century.
IP, as an asset class valued at up to $61 trillion, encompasses training data, scientific discoveries, brands, and creative content.
However, AI is dismantling the IP system as we know it. Traditional IP mechanisms can no longer keep up with the speed and scale of generative AI. Centralized intermediaries make IP transactions, licensing, and monetization opaque, costly, and inefficient. IP owners find their works used in AI model training without attribution or compensation, while AI companies struggle to individually license content from vast numbers of creators. AI and IP are locked in a zero-sum game, leaving creative markets chaotic and illiquid.
Story introduces a new intellectual property framework designed to build an open and programmable market for IP. Story is a peer-to-peer intellectual property network that enables permissionless trading, ownership verification, and monetization of IP assets across AI and the broader internet by transforming IP into a programmable asset class.
$IP will be the core of the Story ecosystem.
What is $IP?
$IP is the native token of the Story Layer 1 blockchain and serves multiple critical functions within the Story network.
Core Use Cases of $IP
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Stake $IP to secure the network——Validators secure the integrity and safety of the blockchain within Story's proof-of-stake (PoS) consensus mechanism by staking $IP.
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Use $IP as gas to transact on Story——All transactions on Story require $IP as gas fees to ensure continuous network operation.
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Govern the $IP ecosystem——Token holders drive the development of Story's on-chain IP market through governance decisions.
$IP Token Distribution
58.4% of $IP will be allocated to the ecosystem and community, the foundation, and initial incentives.
Initial Token Allocation
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38.4% Ecosystem + Community
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The ecosystem and community portion is dedicated to promoting ecological growth and community development, supporting developers, community members, and real users through marketing, events, grants, and other initiatives.
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10% Initial Incentives
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The initial incentives portion primarily includes early reward programs designed to stimulate growth in the Story ecosystem.
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10% Foundation
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The foundation portion includes support for foundation staff and services related to developing the Story blockchain, as well as foundational services and education necessary for long-term ecosystem prosperity.
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21.6% Early Supporters
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The early supporters portion includes equity for early investors and advisors.
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20% Core Contributors
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The core contributors portion includes funds for talent acquisition and compensation for team members contributing to the development of the Story blockchain.
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Initial Supply: 1,000,000,000 $IP
Initial Unlocked Supply: 25%
$IP Token Unlock Schedule
The $IP token unlock schedule is expected as follows.
The community will unlock via initial incentives on the first day the public mainnet launches.
Early supporters and core contributors remain locked, with a 48-month unlocking period.
Fair-Launch Staking
Unlike previous launches that heavily favored insiders with staking rewards, $IP staking follows the fair launch principle:
The foundation and early contributors receive no early staking rewards——everyone in the community receives staking rewards simultaneously.
During the Singularity Period, which lasts 42 days following our January 19 genesis block, users may stake or delegate stakes——no staking rewards are generated during this time, but it provides an opportunity for users to decide whether to participate.
When the Big Bang event ends the Singularity Period, all users will begin receiving staking rewards fairly and simultaneously.
What’s Next?
The era of programmable IP has arrived, and $IP sits at its core.
Stay tuned for updates, and follow our official X account @storyprotocol.
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