Walkers works for Story Foundation in the Cayman Islands to launch a new governance token $IP

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