Story pauses IP trading for October token migration to DATA
Trading in Story's IP token is disabled from October 5 to 7, 2026, while holdings convert automatically to DATA at a 1:1 ratio
Trading support for Story (IP) is temporarily disabled from October 5 to October 7, 2026. For three days, the token sits in a kind of witness protection program while it gets a new name and a new job.
The pause covers the window in which IP converts into DATA, the token of the newly rebranded DATA Foundation and Data Network. Holders don’t need to do anything. Their balances are set to convert automatically at a 1:1 ratio.
How the migration works
The trading halt applies across several exchanges, including Coinbase. During the October 5 to 7 window, IP balances convert to DATA or DATAIP, one for one.
No claim forms, no bridges, no wallet gymnastics. The swap happens on the exchanges’ end while trading is frozen.
Trading in the new DATA token is set to resume once the conversion wraps up. The supply structure carries over unchanged from IP to DATA.
IP had a capped supply of 1 billion tokens. Because the conversion is 1:1 and the supply structure stays the same, a holder’s slice of the total pie is meant to look identical on both sides of the migration.
From IP licensing to AI data
The migration is the final mechanical step in a rebrand announced on June 25, 2026. That announcement moved the project from Story Protocol to the DATA Foundation and Data Network, with a new focus on AI training data infrastructure.
Story launched its mainnet and IP token in February 2025 as a Layer 1 blockchain built for intellectual property. The idea was to tokenize IP and handle licensing on-chain, so creators could register work and get paid when others used it.
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Story Protocol raised approximately $134 million from investors including Andreessen Horowitz.
The shift toward data started with Trace, an on-chain data registry. Think of it as a ledger that records where a piece of data came from and who has rights to it.
The project then added an integration with Kled, which aims to document 1.5 billion user-contributed records through Trace.
The price history behind the pivot
IP reached a peak of around $14.78 and has since fallen nearly 98% from that high.
What this means for holders and the project
For current IP holders, the immediate takeaway is simple. If your tokens sit on a participating exchange like Coinbase, the conversion should happen automatically. Your job is mostly to not panic when the IP ticker disappears and DATA shows up in its place.
The DATA Foundation carries over the Story infrastructure, the Trace registry and the Kled integration, rather than launching an entirely new chain or token supply.
On the business side, the pivot puts the project into a crowded but growing field. AI developers increasingly need training data that is rights-cleared, meaning it comes with clear permission to use. A registry that can prove provenance and track rights could fill a real gap, especially as scrutiny of how models are trained keeps building.
Documenting 1.5 billion records through Kled is an ambitious target, and the value of the network will depend on whether AI companies actually use Trace to source and license data.
For now, the next concrete milestone is October 7, 2026, when the conversion window closes. After that, DATA trades on its own merits, without the IP name to lean on or blame.