Introducing $IP, the native token of Story's L1!
In the age of AI, $IP will play a critical role in tokenizing the $61T IP asset class.
58.4% of $IP will be devoted to Ecosystem & Community, Foundation, and Initial Incentives.
More on ꧁IP꧂👇
AI is transforming the $61T asset class of IP — from science to creative works.
The current IP system cannot scale to meet the explosion of intelligence that AI powers.
Story's Peer-to-Peer IP Network unleashes the latent value of IP, allowing ideas to be monetized seamlessly.
Just as Bitcoin was built to address the financial crisis,
Story exists to address the crisis in AI.
By liberating IP from the hands of a few centralized intermediaries, Story is creating a programmable market for intelligence to increase the intellectual output of humanity.
Story is a Turing-complete, purpose-built L1 at the intersection of AI and IP.
By making ꧁IP꧂ programmable, Story opens up a digital market for one of the world's most important assets.
And $IP is at the center of the Story ecosystem.
The $IP token serves several critical roles on Story's L1:
1. Stake $IP to secure the network
2. Transact on Story with $IP as the gas token
3. Steward the governance of the $IP ecosystem
$IP is burned with each transaction, which can result in deflation in some conditions.
$IP staking follows Fair Launch ideals:
Everyone starts earning staking rewards at the exact same time.
*No one* can earn staking rewards before the community does.
Only after the Big Bang, which concludes the Singularity Period, can staking rewards be received by any party.
$IP Distribution:
38.4% Ecosystem + Community
10% Initial Incentives
10% Foundation
21.6% Early Backers
20% Core Contributors
Initial Supply: 1 billion $IP
Initial Unlocked Supply: 25%
Story is building the future of Programmable ꧁IP꧂ for the long term.
The community will be unlocked on Day 1 of our Public Mainnet via an initial claim.
Early backers and core contributors remain locked, with unlocks occurring over 48 months.
The Initial Incentives will reward real users.
Odyssey Testnet was a true staging environment for our ecosystem — not a farming opportunity:
- Badge Program lasted for 4 weeks, not years
- Farmers cut to increase rewards for real users & yappers
- No fees to claim incentives
Homer — our Public Mainnet — isn't the finish line, but just the start for Story.
Much more soon, from further Initial Incentive campaigns to our technology roadmap.
Stay tuned! The entire ꧁IP꧂ community is just warming up.
For more information, please read our blog post.
story.foundation/blog/introduci…
Share this Scrolly Tale with your friends.
A Scrolly Tale is a new way to read Twitter threads with a more visually immersive experience.
Discover more beautiful Scrolly Tales like this.