Data Network (DATA) is the native token of Story Network (Story L1), a purpose-built Layer-1 blockchain combining the Cosmos SDK (CometBFT consensus) with EVM compatibility. It is the direct continuation of Story Protocol's IP token, following a June 25, 2026 rebrand in which the network was renamed Data Network and the organization became The DATA Foundation. The network provides infrastructure to source, verify, and license data — including AI training data — through products such as Trace, Kled, and Poseidon. DATA serves as the chain's native gas and staking token.
Data Network shifts from Story Protocol's on-chain IP-licensing model toward sourcing, verifying, and licensing data for AI development, which its steward calls a multi-billion-dollar bottleneck. Its Trace product forms a public, on-chain audit layer proving data origin and licensing terms, while Kled operates a human-data marketplace with stablecoin payouts to contributors. As of July 24, 2026, the network reported surpassing 100 million registrations, and a June 26, 2026 partnership brought Toss's 30 million users into its data economy via the Poseidon product.
Data Network (DATA) functions as a utility and staking token that secures Story L1's Proof-of-Stake consensus. Holders delegate DATA to validators, and the resulting staked weight influences validator selection and network outcomes. Unstaking triggers a 14-day unbonding period, during which tokens neither earn rewards nor can be transferred. As the chain's native asset, DATA also serves as the gas token used to pay for network transactions.
Data Network (DATA) has a circulating supply of about 358.24 million tokens and a total supply of about 1.03 billion, above the 1 billion genesis supply from ongoing staking rewards. Current listings show maximum supply as uncapped, despite the original design fixing genesis supply at 1 billion. Market capitalization is approximately $67 million against a fully diluted valuation of approximately $194 million. Genesis allocation (as IP) was:
Data Network originated as Story Protocol, founded in 2022, prior to its June 25, 2026 rebrand and 1:1 migration of the IP token to DATA. PIP Labs, Story's original developer, closed an $80 million Series B on August 21, 2024 at a $2.25 billion valuation, led by a16z Crypto with participation from Polychain Capital, Foresight Ventures, and Samsung NEXT Ventures, bringing total funding since founding to $140 million. At mainnet launch, only approximately 25% of total token supply was unlocked, with the remainder released linearly over a vesting schedule.
Data Network (DATA) is the native token of Story Network (Story L1), a purpose-built Layer-1 blockchain combining the Cosmos SDK with CometBFT Proof-of-Stake consensus while maintaining EVM compatibility. The chain runs its own independent validator set rather than DATA being deployed as a token on a third-party chain. Bridged or wrapped representations of DATA exist on other chains, such as Ethereum and BNB Chain, for centralized-exchange and DeFi convenience, but these are thin bridge instances rather than the canonical asset.
SY Lee, co-founder and CEO of PIP Labs (Story Protocol's original developer), now serves as a strategic adviser to The DATA Foundation. Andrea Muttoni became CEO of The DATA Foundation following the June 2026 rebrand; he previously led developer relations at Dapper Labs, served as President of the Story Foundation, and earlier worked as an Amazon product manager on Kindle and Alexa. Avi Patel, founder and CEO of Kled, serves as the Foundation's part-time advisory Chief Data Officer.
The DATA Foundation, headquartered in Palo Alto, California, maintains and develops Data Network. It was formed through the June 25, 2026 rebrand of the Story Foundation, alongside Story Protocol's renaming to Data Network. Its stated mission is building infrastructure to source, verify, and license data — including AI training data — at scale, a strategic shift from Story's original programmable-IP-licensing focus. The Foundation oversees products including Trace, Kled, and Poseidon, whose contributor-facing app is called Numo.
Data Network's governance is exercised primarily through Proof-of-Stake staking and delegation rather than a formal on-chain DAO. Token holders delegate DATA to validators, and the resulting staked weight influences validator selection and broader network decisions.
Since the June 25, 2026 rebrand, Data Network has focused development on its AI-data infrastructure stack, including Trace, Kled, and Poseidon. Trace provides on-chain data-origin verification, Kled operates a human-data marketplace, and Poseidon handles data cleaning and quality scoring through its contributor app, Numo. A June 26, 2026 partnership integrated Toss's user base into the data economy via Poseidon. By July 24, 2026, the network had surpassed 100 million registrations, coinciding with a DATA trading competition on Upbit.
CertiK Skynet assigns the project, evaluated as Story Protocol, an overall security score of 90.57 with an "AA" rating, reflecting 10 positive factors, 1 negative factor, and 2 observations. Four third-party audits reportedly exist, though CertiK did not itself conduct a code-security audit, and no active bug bounty program exists.