It is not required to paint, seal, waterproof, or stain your Ipe decking. Very similar to the more common Teak wood; Ipe is a very dark board that naturally fades to a sought after silver patina.
Although if you desire to maintain the rich walnut color, use an oil based sealer with UV inhibitors – it should be specially formulated for hardwood decking. Wahoo Decks recommends staining Ipe wood with Cabots Australian Timber Oil for Decks. You can find this item at any Lowes home improvement store, item #238948. – “Australian Timber Oil penetrates deep into the dense, resin-rich woods to accentuate natural wood depth and patina. Containing a precise blend of superb-grade linseed oil for maximum penetration, long-oil alkyds for durability and pure South American tung oil for color depth and water repellency, Australian Timber Oil delivers three-way oil protection. In addition, complex translucent iron oxide pigments are added to ensure a lasting U.V. –absorbing surface rich with color and dimension.”
Remember: Ipe sealing is typically referred to as ‘oiling.’