Story Protocol pauses IP trading for DATA token migration

Story Protocol is pausing trading for its IP token from October 5 to October 7, 2026, as part of a migration to a new token called DATA. The temporary halt applies to exchanges like Coinbase and other platforms supporting the conversion. Holders of IP tokens do not need to take any action, their balances will automatically convert to DATA or DATAIP at a 1:1 ratio during the trading freeze.

The migration marks the final step in Story Protocol's rebranding to the DATA Foundation and Data Network, announced on June 25, 2026. The project, which originally launched in February 2025 as a Layer 1 blockchain for intellectual property licensing, is shifting its focus to AI training data infrastructure. The transition includes integrating the Trace registry, an on-chain ledger for data provenance, and the Kled project, aimed at documenting 1.5 billion user-contributed records.

For current IP holders, the process is straightforward. If their tokens are held on a participating exchange like Coinbase, the conversion will happen automatically. The supply structure of IP, capped at 1 billion tokens, remains unchanged, ensuring holders maintain the same proportional stake in DATA. IP reached a peak price of around $14.78 but has since fallen nearly 98% from that high.

The pivot positions the project in the growing market for rights-cleared AI training data. The success of the DATA Foundation will depend on whether AI companies adopt Trace for sourcing and licensing data. The next key milestone is October 7, 2026, when the conversion window closes and trading in the new DATA token resumes.