The experienced and expert fintech team at Walkers are proud to have played a part in the growth and development of the Story Network - a purpose-built layer 1 blockchain designed to allow IP owners to set programmable terms for how their IP content is used - and the Story Decentralized Autonomous Organization (DAO).
The newly launched governance token $IP is designed to
facilitate decentralised coordination for the continued advancement
of the Protocol and formalise governance. Aiming to bolster
community participation by encouraging and allowing holders of IP
Tokens to actively participate in the decision-making processes and
initiatives that will shape the future of the Protocol is a key
aim. This includes managing the DAO treasury and administering a
grant programme that contributes to ongoing developments and
improvements.
The Story Network operates through a peer-to-peer system, removing
the bottlenecks of traditional IP systems that make the management
of IP expensive and inefficient, through permissionless exchange -
one of many examples of how Cayman Islands' drive to become an
innovative hub for global digital asset companies in action.
Led by partners Melissa Lim, Ian Mason, and Alex Drysdale, and
including associates Carolyn Kelly, Charlie Griffiths, Alfida Cruz
and Dwight Williams, the team from Walkers acted alongside US
counsel Fenwick & West LLP. Horizons Global and Leeward
Management Limited providing directorship and registered office
services, and Open World Inc. was the Web3 advisory and launch
partner.
"We are proud to play a part in Walkers' growing
reputation as a world-class fintech jurisdiction."
Melissa Lim, Partner, Walkers