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

PANews reported on February 7 that the Layer 1 network Story Protocol, supported by a16z, announced its economic model for 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) , ensuring widespread participation and decentralized ownership. 21.6% were allocated to early investors and 20% were allocated to core contributors .

In addition, the initial unlock supply is set to 25%. Officials said that the pledge mechanism will follow the "fair launch principle" and will not provide additional rewards to the foundation or early contributors. All community members can obtain pledge benefits simultaneously.

Story Protocol was developed by PIP Labs and completed a US$80 million Series B financing in August last year, led by a16z , with Polychain Capital, Stability AI director Scott Trowbridge, K11 founder Adrian Cheng and others participating in the investment.