PANews reported on February 7 that Story Protocol, a Layer 1 network 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 the foundation or early contributors. All community members can obtain staking benefits simultaneously.
Story Protocol was developed by PIP Labs and completed an $80 million Series B financing round in August last year, led by a16z , with participation from Polychain Capital, Stability AI director Scott Trowbridge, K11 founder Adrian Cheng and others.
