Story (IP) Staking

About Story Protocol (IP)

Story Protocol is a Layer-1 blockchain platform designed to revolutionize the management and monetization of intellectual property (IP) in the digital age. By leveraging blockchain technology, Story Protocol offers creators a decentralized and transparent system to register, license, and monetize their IP assets seamlessly.

What Makes Story Protocol Special?

Story Protocol introduces several innovative features that address longstanding challenges in IP management:

1. Programmable Intellectual Property (IP)

• Automated Licensing: Creators can embed licensing terms directly into smart contracts, automating the process of IP usage and revenue distribution. This ensures that creators are fairly compensated whenever their work is used or remixed.
• Composability: The protocol allows for seamless collaboration and derivation, enabling multiple IP assets to be combined to create new works while ensuring original creators receive due credit and compensation.

2. ERC-6551 Token Standard Implementation

• Token-Bound Accounts: By utilizing the ERC-6551 standard, Story Protocol transforms NFTs into dynamic accounts capable of holding assets, interacting with smart contracts, and executing transactions. This enhances the functionality of IP assets, allowing for more complex and interactive applications.

3. Transparent and Immutable IP Registry

• On-Chain Ownership Verification: All IP registrations are recorded on the blockchain, providing a transparent and immutable ledger of ownership. This reduces disputes and simplifies the process of verifying IP rights.

4. Enhanced Monetization Opportunities

• Revenue Sharing: The protocol's automated systems ensure that creators receive real-time compensation for the use of their IP, opening up new avenues for monetization without the need for intermediaries.

IP Staking FAQ

How much can I make staking IP?

The return from staking IP varies based on the network's overall staking participation and specific validator commission

How do I receive my IP rewards?

IP rewards need to be claimed. Visit the Story Staking Dashboard to claim your rewards: https://staking.story.foundation/

When can I start earning rewards with IP?

You can start earning staking rewards once your IP tokens are successfully delegated to a validator

Can I sell IP while it is locked up?

Staked IP tokens cannot be sold, they need to be unstaked first. By default, the lockup period for staking IP is flexible, enabling you to unstake at any time. Alternatively, you can opt for fixed staking periods of 7, 14, or 21 days for unlocked tokens, during which unstaking is only possible once the selected period concludes.

What are the risks around staking IP?

Staking IP comes with risks like slashing (penalty for a malicious validator), price volatility, and liquidity risk (inability to sell during the lock-up period).

What consensus algorithm does Story Protocol use?

Story Protocol employs a customized consensus mechanism that integrates the Ethereum Virtual Machine (EVM) with the CometBFT (formerly Tendermint) consensus engine.

What are the tokenomics of IP?

Read all about IP tokenomics here.