Overview

Verio presents a unique liquid staking solution customized for Story's IP Chain.

Background

"Hollywood was going on strike, digital creators were seeing their IP scraped up by generative AI models, and the pen-and-paper printing press legal system could do nothing to stop it. We set out to tackle the widespread problems in IP ownership, monetization, and growth for creators."

-- Jason Zhao, cofounder of Story

In an era in which AI models can access copyrighted data without permission and generate derivative works that are too similar to the original works, it becomes harder for content creators to protect their Intellectual Property (IP). In parallel with Story's mission to tackle IP ownership and monetization issues, our goal is to facilitate IP validation and adoption. That is, how does one find the right and legitimate IPs to work with?

Liquid Staking & Proof of IP Curation

Staking for any Proof-of-Stake (PoS) chain is indispensable. It allows participants to lock their capital and earn rewards through securing the blockchain network. Verio's liquid staking protocol improves on this staking mechanism by allowing stakers to continue to earn rewards while unlocking the liquidity of the staked assets. Users stake $IP and receive $verioIP ($vIP), Verio's yield bearing liquid staking tokens. We will be using $verioIP and $vIP interchangeably through out this documentation. Furthermore, Verio generates higher staking reward APY for users through compounding received staking rewards over time and its unique Maturity Mismatch staking algorithm.

Verio’s Proof-of-IP-Curation system is the backbone of Story's open IP registration ecosystem. It allows Verio's LST token, $vIP, to be (re)staked on IP Assets, enabling $vIP holders to earn extra yield by validating and staking on these assets. The amount of stake on an IP Asset acts as a legitimacy signal for the underlying asset — the more stake it has, usually the greater the consensus on its validity. This not only benefits creators who want to utilize existing IPs by offering them an IP legitimacy indicator, but also provides additional yield for IP Asset stakers holding $vIP, creating a positive flywheel that protects and facilitates IP adoption on Story.

This Dual Staking Model is crucial for both network security and IP mass adoption on the blockchain.

Architecture Overview