Company: IPST
Filing Date: 2025-12-12
Form Type: S-1/A
Source: 0001213900-25-121277
Chunk: 193

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-12-12
Form: S-1/A
Chunk 193
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 core developers and independent contributors. These stakeholders can propose protocol upgrades, but adoption requires widespread acceptance among validators and users, consistent with decentralized governance norms. The release of updates to the Story Network’s source code does not guarantee that the updates will be automatically adopted. As with other blockchain protocols, proposed upgrades are implemented only if a critical mass of validators and participants update their software. Users and nodes must accept any changes made to the Story source code by downloading a software implementation of the proposed modification. A modification of the Story Network’s source code is only effective with respect to the Story Network users that download it. If a modification is accepted only by a percentage of users and validators, a division in the Story Network may occur such that one network will run the pre -modificationsource code and the other network will run the modified source code. Such a division is known as a “fork.” Consequently, as a practical matter, a modification to the source code becomes part of the Story Network only if accepted by participants collectively having at least a consensus of the processing power on the Story Network as defined by the protocol. Recent development efforts have focused on enhancing scalability, content traceability and intellectual property licensing tools to support a broader ecosystem of creative rights management tools. $IP Token Value The value of $IP Tokens is determined by the value that various market participants place on $IP Tokens through their transactions. The most common means of determining the value of an $IP Token is by surveying one or more digital asset trading platforms where $IP Tokens are traded publicly and transparently ( e.g., Coinbase, Binance and CoinMarketCap). Additionally, there may be over -the-counterdealers or market makers that transact in $IP Tokens. According to Coinbase.com, as of November 25, 2025, the total market capitalization of the current circulating supply of $IP Tokens was $3.35 billion. From February 13, 2025 (the date $IP Tokens first became available on digital asset trading platforms) through November 25, 2025, the price of $IP Tokens, as reported by Coinbase.com, ranged from a low of $1.246 to a high of $14.933. Digital Asset Trading Platform Public Market Data On each online digital asset trading platform, $IP Tokens are traded with publicly disclosed valuations for each executed trade, measured by one or more fiat currencies such as the U.S. dollar or euro or by the widely used cryptocurrencies, Bitcoin and Ethereum. Over -the-counterdealers or market makers do not