Story Protocol has recently unveiled details about its tokenomics ahead of its mainnet launch.
Story Protocol Tokenomics
The announcement revealed that IP will be the project’s native token with a total supply of 1 billion. The token distribution is structured as follows: 58.4% allocated to the community through early incentives, ecosystem, and foundation initiatives, ensuring broad participation and decentralized ownership; 21.6% allocated to early backers; and 20% allocated to core contributors to the Story blockchain. The initial circulating supply of this Layer-1 network is set at 25%.
Regarding the role of IP tokens within the Story Protocol ecosystem, the project states that they can be used as utility tokens, contributing to network security and covering gas fees. Notably, they also function as governance tokens, enabling holders to participate in governance activities and shape the future of Story’s IP marketplace.
Story Protocol is a Layer-1 network developed by PIP Labs. They raised $80 million in a Series B funding round last August led by a16z. The project also attracted investments from notable figures such as Polychain Capital, Stability AI’s Senior Vice President and board member Scott Trowbridge, and K11 founder and billionaire Adrian Cheng.
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