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Stake IP with Kiln, enterprise-grade staking
Story Protocol
What is Story Protocol?
Story Protocol leverages blockchain technology and smart contracts to address intellectual property (IP) challenges.
It seeks to streamline IP management and monetization for creators and enable developers to build innovative IP-based applications.
What is Proof-of-Creativity?
Proof-of-Creativity is a smart contract protocol that allows creators to register and manage their intellectual property (IP) on the Story Network.
Creators can turn their IP into "IP Assets," which are programmable metadata represented by on-chain NFTs. These IP Assets can be managed using modules like licensing, royalty, and dispute resolution. The protocol also includes a legal contract to ensure off-chain protection for on-chain agreements.
Why should you stake your assets?
Staking is one of the safest and most predictable ways to get rewarded in the crypto space as the value originates from the blockchain’s native currency inflation and a share of transaction fees. You help secure the network and get rewarded by staking your IP.
If you do not stake, your asset's token share will be diluted among other people’s tokens that are being staked and accumulating new tokens into the network.
You can stake your IP as well as other (d)PoS cryptocurrencies to:
- 1Put your treasury to work
- 2Diversify and earn, while contributing to blockchains decentralization
- 3Bring new opportunities by enabling your users to earn staking rewards
What are the rewards associated with staking IP?
As an incentive for securing the Story Protocol network, you can earn additional IP as rewards. The GRR* is variable, so selecting a reliable and stable validator node is essential to maximizing your returns.
Why should you stake your IP with Kiln?
Kiln is the leading enterprise-grade staking platform, enabling institutional customers to stake IP, and to whitelabel IP staking functionality into their offering. Our platform is API-first and enables fully automated validators, rewards, data, and commission management.
Our clients can stake their tokens from our dashboard, a hardware wallet, a browser wallet, a B2B custodian, a crypto exchange, or just their favorite investment app. Kiln makes staking IP easy, secure, and accessible to everyone.
Kiln has been closely working with Story Protocol in its Odyssey Testnet to make sure we provide the best staking experience as possible.
We are serving thousands of businesses worldwide so that everyone can securely and seamlessly:
- Excellent track record in staking on 40+ protocols, managing more than $8b in stakes.
- Trusted by industry leaders such as Ledger, Lido, Coinbase Cloud, Bitpanda, Crypto.com and many more!
- Non-custodial, work with your existing custodians solutions e.g.Ledger, Fireblocks
SOC 2 Type II certified and Industry leading SLAs (0 penalties recorded and 99.95% effective uptime)
How to stake IP with Story Protocol and Kiln?
Reach out to us if you’re an institution wanting to stake IP with Kiln.
Kiln validator address coming soon.
Protocol Card:
Token
IT
Consensus
PoC
Status
Odyssey Testnet(Q1 Scheduled Mainnet)
Number of validators
112
Story Protocol FAQ
Q: What does Proof-of-Creativity mean?
Proof-of-Creativity is a smart contract protocol for managing intellectual property on-chain. It includes a legal contract that can be customized for each IP, ensuring off-chain legal protection. The protocol is built on two main components: IP Assets and Modules.
Q: When will I receive staking rewards?
You will receive staking rewards once they accumulate to more than 8 IP. Rewards are calculated per block but are only distributed to your account when they exceed this threshold.
Q: Does interest compound when staking IP?
No, the interest doesn’t compound when staking IP.
Q: Is there a minimum and maximum amount to stake for IP?
As of November 13th, 2024, validators in the active set have staked a minimum of 99 994 IP. There is no maximum amount to stake IP.
Q: Do I maintain custody of my IP tokens? Is IP staking non-custodial?
While you may maintain self-custody of your staked IP (ideally using a Ledger hardware wallet), you may also choose a third-party custodian to control the withdrawal of your staked IP (i.e. Fireblocks).
Q: What is the lockup period to stake IP? When can I unstake and withdraw my IP?
The lockup period to stake IP is flexible by default, allowing you to unstake immediately. However, there are also fixed staking periods for unlocked tokens: 7 days, 14 days, and 21 days. You can only unstake after the chosen period has ended. After unstaking, there is a 14-day unbonding period before you can withdraw your IP tokens. For locked tokens, only flexible staking is allowed.
Q: What are the risks associated with staking IP?
Validators can be penalized for double signing blocks (5% token loss and permanent jail) or extended downtime (0.02% token loss and jail). They can also be jailed if their self-delegation falls below 1024 IP after self-undelegation.
Q: How do rewards work on Story Protocol?
Rewards are distributed for every block from a pool funded by a fixed proportion of token inflation. This pool is shared among all 112 active validators based on their stake weights, which are determined by the total amount of tokens staked and whether those tokens are locked or unlocked. The rewards are then divided between the validator and its delegators.
Q: What is the average block time on Story Protocol?
TBD
Q: What is a Gross Reward Rate (GRR) and how is it different from a Net Reward Rate (NRR)?
In the context of Proof-of-Stake blockchains, the gross reward rate (GRR) refers to the total or gross amount of rewards earned from staking before deducting any fees or expenses. This is a reward rate that fluctuates with the operations of the protocol and the performance of validators, it is not set by Kiln. The net reward rate (NRR), on the other hand, takes into account the deductions or expenses, providing a measure of the actual rewards received after subtracting fees or costs.
Q: Where can I learn more about Story Protocol?
You can learn more about Story Protocol on their official documentation and on the Story Protocol website.