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Introducing Story’s Security Council
Story
08 August 2025
Story is moving into its next chapter of progressive decentralization. To safeguard the network and accelerate the path to full tokenholder governance, today, we are launching the Story Security Council: an independent team of security experts who can respond to critical threats in real time while providing a bridge to fully decentralized control.
The Path to Progressive Decentralization
Decentralized governance is a design principle that places power in the hands of the community. When everyone can propose, debate, and execute changes onchain, the protocol gains censorship‑resistance, collective intelligence, and network longevity.
But decentralization is a spectrum, not a switch. Young protocols that leap straight to full onchain governance often discover hard lessons: critical bugs that can’t be patched fast enough, liquidity drains that outpace voting windows, systems too rigid to allow for the initial speed of changes, or malicious actors who exploit under‑engaged token‑holders.
Story will follow a progressive decentralization model, starting with a smaller, accountable group of stewards and widening the circle of decision‑makers as the protocol hardens. and ends with direct control in the hands of the network stakeholders with skin in the game. This approach allows us to move quickly in the early days, nurture a thriving ecosystem, and gradually transition to broad tokenholder governance safely with people who’ve got skin in the game.
After separating Story Foundation and PIP Labs, the Security Council is the next step of that journey.
Safeguarding the Story Network
Security incidents have cost the web3 community billions. A multisig with checks and balances could have prevented incidents like the $1.46 billion Bybit hack. The Security Council acts as the protocol’s on‑call firefighters, providing an expert-led layer that can:
- React immediately to critical threats
- Protect tokenholders and network participants
- Preserve the ethos of decentralization by ensuring no single party has unilateral control
Meet the Story Security Council
Story's Security Council is an independent cohort of up to 11 security experts responsible for rapid response and proactive monitoring of the Story Network.
The current Security Council composition includes:
Purpose & Core Responsibilities
Emergency Actions - When seconds matter, the Security Council may, through a multisignature wallet:
- Pause or freeze contracts using privileged functions
- Revoke or change access to admin keys or contracts
- Coordinate fund recovery, working alongside white‑hat hackers and core devs
- Veto network upgrade or parameter changes
Every emergency action is followed by a full transparency report once it is safe to disclose details.
Normal Operations - Outside crisis mode, Security Council members:
- Participate in code reviews and smart contract audits
- Keep up to date with known threats to advise Foundation and PIP Labs
- Respond to bug bounty reports alongside core developers and audit firms
- Coordinate with white-hat hackers during disclosures
- Meet bi‑weekly,published meeting minutes to maintain visibility into the network’s security posture
Governance & Membership
The Security Council governs itself through clear procedures while transitioning toward tokenholder control:
- Elect a Security Council Chair
- Vote on adding or removing members
- Maintain staggered, renewable 12‑month terms to preserve continuity
- Tokenholders can remove any member via a Constitutional SIP
Phased Membership Model
| Phase | How Seats Are Filled | Community Involvement |
|---|---|---|
| Phase 1(Year 1 post‑Constitution) | Up to 7 members appointed by Story Foundation directors; up to 4 elected by incumbent members | Advisory only (tokenholders observe) |
| Phase 2 | Majority elected by tokenholders through a Constitutional SIP | Full voter control over Security Council composition |
Each seat carries a renewable 12‑month term. Tokenholders can remove any member via a Constitutional SIP, with a 12‑month cooling‑off period before re‑joining.
What's Next?
By empowering a vetted group to assess and respond to threats instantly, we protect builders, creators, tokenholders, and the Story network, without sacrificing our path to open governance.
Over the next 12 months, we will:
- Publish meeting minutes and transparency disclosures if emergency actions are taken
- Expand community security initiatives
- Progress toward Phase 2: tokenholder-elected Security Council and fully decentralized governance
Your voice is essential on this journey. Join the conversation in Discord, follow our contributors on X, and stay tuned for the first Security Council AMA coming in August.
