$IP - The native token of Story L1, releasing token economics
The AI Era Gives Rise to a New Asset Class
Intellectual Property (IP) is the cornerstone of Artificial Intelligence (AI). As AI transforms various industries at an unprecedented pace, IP is becoming the most important asset class of the 21st century.
IP, as an asset class worth up to $61 trillion, encompasses training data, scientific achievements, 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 result in opaque, costly, and inefficient processes for trading, licensing, and monetizing IP. IP owners find their works used for AI model training without attribution or compensation, while AI companies struggle to negotiate licensing agreements with a vast number of individuals. AI and IP are caught in a zero-sum game, leading to a chaotic and illiquid creative market.
Story proposes a completely new framework for intellectual property, aiming to build an open and programmable market for IP. Story is a peer-to-peer intellectual property network that transforms IP into a programmable asset class, enabling permissionless trading, rights confirmation, and monetization of IP assets across AI and the broader network.
$IP will be at the core of the Story ecosystem.
What is $IP?
$IP is the native token of the Story Layer 1 blockchain, serving multiple key functions within the Story network.
Core Uses of $IP
Staking $IP to secure the network ------ Validators maintain the security and integrity of the blockchain within Story's Proof of Stake (PoS) consensus mechanism by staking $IP.
Using $IP as gas fees for transactions on Story ------ All transactions on Story require $IP as gas fees to ensure the network continues to operate.
Governing the $IP ecosystem ------ Token holders drive the development of the intellectual property market on the Story chain through governance decisions.
$IP Token Distribution
58.4% of $IP will be allocated for the ecosystem and community, the foundation, and initial incentives.
Initial Token Distribution
38.4% Ecosystem + Community
The ecosystem + community portion is established to promote ecosystem growth and community development, aiming to support Story's developers, community members, and real users through marketing, events, funding, and other activities.
10% Initial Incentives
The initial incentives portion mainly includes early reward programs designed to incentivize the growth of the Story ecosystem.
10% Foundation
The foundation portion includes support for foundation staff and the development of Story blockchain-related services. It also encompasses support for the foundational services and education necessary for the long-term prosperity of the ecosystem.
21.6% Early Supporters
The early supporters portion includes the equity of early investors and advisors.
20% Core Contributors
The core contributors portion includes costs for talent acquisition and compensation support for team members contributing to the development of the Story blockchain.
Initial Supply: 1,000,000,000 $IP
Initial Unlock Supply: 25%
$IP Token Unlock Schedule
The unlock schedule for $IP tokens is expected as follows.
The community will unlock through initial incentives on the first day of the public mainnet launch.
Early supporters and core contributors will remain locked, with an unlock period of 48 months.
Fair Launch of Staking Function
Unlike previous launches that overly favored insiders in staking rewards, $IP staking follows the principle of fair launch:
The foundation and early contributors do not receive early staking rewards ------ everyone in the community will receive staking rewards simultaneously.
During the Singularity Period, which is the 42 days following our 1/19 genesis block, users can stake or delegate staking ------ no staking rewards will be generated during this period, but it provides everyone the opportunity to decide whether to stake.
As the Big Bang event concludes the Singularity Period, all users will fairly receive staking rewards simultaneously.
What’s Next?
The era of programmable IP has arrived, and $IP is at the core of this era.
Stay tuned for our latest updates, and feel free to follow our official X account @storyprotocol.
