The post Story Protocol turns the page with intellectual property token launch appeared on BitcoinEthereumNews.com.

Story is a sovereign layer-1 blockchain built using the Cosmos SDK and CometBFT consensus, with an added EVM execution — a custom Geth fork. This choice allows for full governance control, optimized execution for intellectual property workflows and a staking economy based on the $IP token. Standard blockchain environments — even high-performance chains like Solana — struggle with modeling the recursive licensing structures that intellectual property ecosystems require, the team said. Story’s unique graph-based architecture is specifically designed to handle the complex relationships between intellectual property assets, the team said. While Story Protocol’s vision of a graph-based intellectual property economy is ambitious, its decision to launch an entirely new layer-1 with its own token instead of, say, a validium rollup, is worth scrutinizing. Many projects claim to need a custom execution environment, only to ascribe an L1 premium to their tokens. Could Story not have built this as a rollup with a purpose-built intellectual property layer on top? The Cosmos SDK grants Story more sovereignty, but at the cost of fragmenting liquidity, security and developer mindshare. Do we really need to bootstrap yet another staking economy? Many similar application-specific chains have struggled to justify their independence beyond token incentives. Rollups benefit from inheriting Ethereum’s deep liquidity and mature validator set, and even Cosmos chains are trending toward greater use of Interchain security. The role and tokenomics of $IP $IP serves multiple key functions in the Story ecosystem, according to a blog released today. Such functions include: Securing the network: Validators stake $IP to participate in consensus. Gas token: $IP is required for all on-chain interactions. Governance: Token holders shape the future of Story Protocol through governance decisions. Story has structured $IP’s supply and distribution to prioritize long-term community participation. The total supply is set at 1 billion $IP, with an…

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Filed under: News - @ February 7, 2025 6:23 pm