Story Protocol has introduced a new layer-1 blockchain utilizing the Cosmos SDK and CometBFT, optimizing the execution of intellectual property workflows with its $IP token. The blockchain's graph-based architecture is designed to address the complexity of licensing structures in intellectual property ecosystems. $IP serves critical functions: network security through staking, acting as a gas token for transactions, and enabling governance for token holders. The total supply of $IP is capped at 1 billion, with mechanisms in place to potentially reduce supply over time. During its initial staking setup, rewards will not accrue until the community's participation is established later this year. Moreover, Story aims to capitalize on the intersection of AI and digital ownership by enabling automated licensing and agent-based transactions, establishing itself as a foundational technology for a blockchain-native economy around creativity and intellectual property.

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