Story Unveils $IP: The Native Token Powering Its L1 Blockchain
The native coin of Story‘s Layer 1 (L1) community, $IP, has been unveiled. Story is a next-generation blockchain platform. $IP will probably be important to tokenizing the $61 trillion mental property (IP) asset class as synthetic intelligence (AI) revolutionizes varied industries.
A big 58.4% of $IP has been allotted to the ecosystem, group, basis, and preliminary incentives. This transfer goals to encourage widespread adoption and guarantee a strong basis for the Story community.
Supply: Story
The present IP system struggles to scale with AI-driven improvements. From scientific discoveries to artistic works, AI is reshaping the $61 trillion IP market. Nonetheless, conventional IP buildings stay outdated and inefficient, limiting the potential of recent mental breakthroughs.
Story Protocol‘s IP Community is meant to unlock the hidden potential of mental property. The platform provides creators direct management over their work and permits concepts to be simply marketed and offered. Simply as Bitcoin emerged to handle the monetary disaster, Story seeks to resolve inefficiencies within the AI-powered IP panorama.
By eradicating centralized intermediaries from the equation, Story is democratizing entry to IP. The platform is making a programmable marketplace for intelligence, fostering an atmosphere the place innovation prospers and mental contributions are maximized.
Constructing the Future with Story’s L1 Blockchain
Story operates as a Turing-complete, purpose-built L1 blockchain on the intersection of AI and IP. By making IP programmable, Story introduces a brand new digital market for one of many world’s most useful asset lessons.
On the core of Story’s imaginative and prescient is the $IP token, which serves a number of key features:
- Community Safety: Customers can stake $IP to safe the blockchain.
- Gasoline Token: Transactions on Story are powered by $IP.
- Governance: $IP holders can take part within the decision-making course of, influencing the way forward for the ecosystem.
Moreover, with every transaction, $IP is burned, creating the potential for a deflationary token economic system beneath particular situations.
Story ensures a good launch for $IP staking, aligning with its dedication to decentralization. All individuals start incomes staking rewards concurrently. No entity, together with early backers or group members, can declare staking rewards earlier than the group. Rewards are solely accessible after the “Large Bang” occasion, marking the tip of the Singularity Interval.
Supply: Story
Breakdown of $IP Distribution
The preliminary provide of $IP is about at 1 billion tokens, with an unlocked provide of 25%. The allocation is as follows:
- 38.4% for the Ecosystem & Group
- 10% for Preliminary Incentives
- 10% for the Basis
- 21.6% for Early Backers
- 20% for Core Contributors
Supply: Story
Story is devoted to shaping the way forward for programmable IP. On the primary day of the Public Mainnet launch, the group may have entry to an preliminary declare. In the meantime, early backers and core contributors will see their tokens unlock steadily over 48 months.
Rewards for Actual Customers, Not Farmers
The Preliminary Incentives program is designed to reward real customers. The Odyssey Testnet demonstrated Story’s dedication to authenticity:
- The Badge Program lasted 4 weeks, making certain actual participation.
- Measures had been taken to chop out farmers, rising rewards for true customers.
- No charges had been required to assert incentives, prioritizing accessibility.
Story is taking a agency stance in opposition to Sybils and airdrop farmers. The mission ensures that solely real customers profit from its rewards. Any makes an attempt to sport the system will probably be blocked, preserving the integrity of the ecosystem.
With the launch of $IP and Story’s L1 blockchain, the way forward for programmable IP is nearer than ever. Because the ecosystem grows, extra alternatives will emerge for creators, builders, and innovators worldwide.
The upcoming Public Mainnet, often known as Homer, is simply the beginning of what’s to return. Story has formidable plans for additional incentive campaigns and main technological developments.
The Story group is actively creating a “GitHub for IP,” a platform the place customers can discover and register IP seamlessly. Whereas the blockchain stays the highest precedence, important product updates are on the horizon.