Story Protocol is transforming the way intellectual property (IP) is managed on-chain, empowering creators with decentralized governance and monetization tools. Staking IP tokens is a key mechanism within the ecosystem, allowing users to contribute to network security, participate in governance, and earn rewards.
This guide will walk you through the step-by-step staking process using the Story Protocol Staking Dashboard.
What Is Story Protocol?
Story Protocol is an innovative blockchain network that enables content creators to register, manage, and monetize their intellectual property (IP). The protocol integrates decentralized staking and governance mechanisms to ensure a transparent and community-driven ecosystem.
If you want to learn more about Story Protocol and its innovative approach, feel free to read our previous article, Story Protocol: A New Approach to IP Management
What Are IP Tokens?
IP token is Story Protocol’s native asset, designed to facilitate staking, governance, and network participation. By staking IP tokens, users contribute to the protocol’s security and decentralization and receive staking rewards.
There are two types of IP tokens:
- Locked IP tokens: Tokens which are subject to a vesting schedule and lock-up period. These can still be staked during the lock-up period in flexible staking, however, the rewards would be twice smaller than with unlocked tokens.
- Unlocked IP tokens: Freely transferable tokens that can be staked anytime.
Story Protocol supports several staking options based on duration and flexibility. By staking for expanded periods, users can get more significant rewards, fostering stability and a deeper commitment to the network goals:
- Flexible staking provides rewards due to on-chain base APR with an unstake option anytime – tokens will be available after 14 days of unbonding period.
- 90 days provide a 1.1 multiplier on top of the base APR.
- 360 days provide a 1.5 multiplier on top of the base APR.
- 540 days provide a 2x multiplier on top of the base APR.
Note: Staking for an expanded period limits you in unstaking and redelegating until the selected period ends.
Read more about IP tokenomics and staking in our article: Story Protocol Tokenomics & Staking Highlights
How to Stake IP Tokens on Story Protocol
Staking IP tokens allows you to support the network and get rewards. Follow the steps below to get started.
Step 1: Acquire IP and Access the Staking Dashboard
- First, buy some tokens on the market. Unlocked IP is listed on about 40 exchanges, including big players like OKX, Kraken, Gate.io, and more. Or you can stake locked IP if you own some.
- Transfer IP to your crypto wallet—this can be a Cosmos wallet like Keplr or an EVM wallet like Metamask.
- Go to the Story Protocol Staking Dashboard.
Step 2: Connect Your Wallet
- Click Connect Wallet.
- Choose your wallet extension from the list (e.g., MetaMask or another supported wallet).
- Approve the connection request in your wallet.
Step 3: Select a Validator
- Browse the list of available validators supporting unlocked tokens.
- If you own locked tokens choose Everstake for stable performance and optimized staking conditions. Reach Everstake by the link.
- On the validator page, you will see:
- Your available IP token balance.
- Your currently staked amount.
- Commission rates and staking terms.
Step 4: Stake Your IP Tokens
- Click Stake.
- In the pop-up window:
- Enter the number of IP tokens you wish to stake (minimum: 1024 IP).
- Select your preferred staking period from the dropdown menu.
- Click Stake IP.
- Confirm the transaction in your wallet.
Step 5: Verify and Refresh
- After successful staking, a green confirmation message will appear.
- Click View Transaction to check the transaction status on the blockchain explorer.
- Refresh the validator page on the dashboard to see your updated staked amount.
Congratulations! You have staked your IP tokens with Everstake on the Story Protocol Staking Dashboard.
Last Words
Story Protocol is redefining on-chain intellectual property management, and staking IP tokens plays a crucial role in securing the network and shaping its governance. By staking, you not only earn rewards but also contribute to the long-term decentralization and stability of the ecosystem.
With Everstake, you get a reliable staking partner committed to seamless performance and user-friendly staking conditions. Whether you’re new to staking or an experienced participant, we’re here to support your journey every step of the way.
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