Story Protocol announces token economic model, 58.4% will be allocated to the community

PANews reported on February 7 that The Block reported that the Layer 1 network Story Protocol, supported by a16z, announced the economic model of its native token IP to support the upcoming mainnet launch. The initial supply of IP tokens is 1 billion, of which 58.4% will be allocated to the community (including initial incentives, ecosystems, and foundations) to ensure broad participation and decentralized ownership. 21.6% will be allocated to early investors and 20% to core contributors.

In addition, the initial unlocked supply is set at 25%. Officials said that the staking mechanism will follow the "fair launch principle" and will not provide additional rewards for foundations or early contributors. All community members can obtain staking income simultaneously.

Story Protocol was developed by PIP Labs and completed a $80 million Series B financing in August last year, led by a16z, with participation from Polychain Capital, Stability AI director Scott Trowbridge, and K11 founder Zheng Zhigang.