Original | Odaily Planet Daily (@OdailyChina)
On February 11, Story announced on X: “The public mainnet will launch on February 13, and the IP airdrop claim and eligibility check will be opened.” Previously, Story released the IP token economic model, with a total supply of 1 billion IP tokens, an initial unlock of 25%, which is 250,000,000 IP tokens. The specific allocation plan is as follows:
Ecosystem and Community: 384,000,000 IP tokens, accounting for 38.4% of the initial total supply. This portion of tokens is dedicated to promoting the growth of the ecosystem and the development of the community by supporting developers, community members, and real users of Story in marketing, events, funding, and other activities;
Initial Incentives: 100,000,000 IP tokens, accounting for 10% of the initial total supply. This portion of tokens is used for early reward programs to incentivize Story's growth, half (5%) will be distributed to users through direct claims on the first day of the public mainnet launch and in the following months; the other half (5%) will be allocated to ecosystem projects, with a clear stipulation that all rewards must be distributed to end users;
Foundation: 100,000,000 IP tokens, accounting for 10% of the initial total supply. This portion of tokens includes support for employees and services and education that promote the development of the Story blockchain, enabling it to thrive in the long-term future;
Early Investors: 216,000,000 IP tokens, accounting for 21.6% of the initial total supply. This portion of tokens includes early investors and advisors;
Early Contributors: 200,000,000 IP tokens, accounting for 20% of the initial total supply. This portion of tokens compensates team members who contribute to the development of the Story blockchain.
As of now, several centralized exchanges, including OKX, Bybit, Bitget, KuCoin, MEXC, and the South Korean exchange Bithumb, have announced that they will launch IP spot trading at 5 PM Beijing time today. Additionally, Binance Wallet now supports the Story network.
Next, Odaily Planet Daily will take you through the upcoming launch of Story, the conditions for claiming the airdrop, community sentiment towards the token airdrop, and predictions for the IP opening price.
Introduction to the Story Project
Story is dedicated to building a programmable market for knowledge and creativity, allowing all intellectual property assets to be registered on a universal ledger with customizable parameters. These assets are equipped with composable interfaces that can be called by any software application or AI model, enabling the use and monetization of intellectual property on the internet. The native token of Story, IP, will coordinate all value flows throughout the peer-to-peer intellectual property system (for a more comprehensive understanding of Story, it is recommended to read the project white paper).
In May 2023, Story completed a $29.3 million seed round of financing, led by a16z Crypto, with participation from Hashed, Foresight Ventures, Samsung Next Fund, Two Small Fish Ventures, dao5, Berggruen Holdings, Mirana Corp, and SLVC.
In September 2023, Story has cumulatively completed $54 million in financing, led by a16z, with participation from Hashed, Endeavor, Samsung Next, dao5, Insignia Venture Partners, and others.
In August 2024, the core contributor team of the intellectual property blockchain Story, PIP Labs, completed an $80 million Series B financing led by a16z crypto, with Polychain as a strategic investor, and other investors including Scott Trowbridge, Senior Vice President and Board Member of Stability AI, Adrian Cheng, founder of K11, and digital art collectors Cozomo de'Medici, No Capital, and others. The new round of financing brings PIP Labs' total funding to $143 million, with a valuation of $2.25 billion, entering the ranks of unicorn companies.
At the time of completing the latest round of financing, the Story developer ecosystem had over 200 teams providing services for more than 20 million IPs, covering multiple fields such as IPFi (IP finance), artificial intelligence, and consumer markets.
Airdrop Claim Requirements: Passport Score of 20 Points, Claim Period of 30 Days
From the day the public mainnet goes live, the team will implement strict anti-sybil measures, including the use of the Passport scoring system, to ensure that more rewards can be fairly distributed to community members in future initial incentive activities. The token allocation saved through Story's anti-sybil measures will be redistributed to real users in future initial incentive programs, aiming to ensure that Farmers cannot encroach on the rewards of participants aligned with Story's long-term development goals, maintaining the healthy development and fairness of the community.
According to the latest news, users need to undergo real identity verification through the Passport platform, with a minimum score requirement of 20 points. The Passport team has carefully calibrated this threshold to make it easy for real users and more difficult for sybil users. Over the past two years, hundreds of projects have tested it. Users will have 30 days from February 13 to claim their token airdrop rewards.
Regarding the requirement that "the Story airdrop claim must meet the Passport platform score of 20 points," Story co-founder Jason Zhao added in the comments: “Being 21 years old and above is the age limit for drinking in US bars. A score of 20 and above allows participation in Story's reward claims.”
The Longer the Staking Time, the More Token Rewards
According to official information, the Story network is expected to reach a block height of 1,580,851 on March 4, 2025, welcoming the "Big Bang Block." With the arrival of this milestone, staking rewards on the Story blockchain will begin to be released. Each block will distribute 1.9477989871 IP tokens, and with a block generation speed of approximately 3 seconds per block, about 55,555 IP tokens will be distributed daily.
Staking is the foundation of the security and sustainability of any proof-of-stake blockchain. Therefore, Story adopts a time-weighted staking model to encourage long-term supporters, with longer staking periods yielding more rewards. The specific coefficients are as follows:
Flexible Staking → 1x multiplier;
90-Day Staking → 1.1x multiplier;
360-Day Staking → 1.5x multiplier;
540-Day Staking → 2x multiplier;
For example, if 2,000 IP tokens are staked for 90 days, the user will receive rewards equivalent to staking 2,200 IP tokens.
Additionally, to further enhance network security, locked tokens can also be staked. However, the rewards will be at a 0.5x multiplier, and these rewards will be locked for at least 6 months to ensure community priorities.
IP Opening Price Prediction
Since Story is an L1 project, it can be compared with NEAR (an L1 project focused on artificial intelligence), AR (an L1 project focused on storage solutions), and PEAQ (an L1 project focused on DePin):
If the FDV of IP is the same as NEAR, the IP price would be about $4; if the market cap of IP is the same as NEAR, the IP price would be about $15.24;
If the FDV of IP is the same as AR, the IP price would be about $0.64; if the market cap of IP is the same as AR, the IP price would be about $2.56;
If the FDV of IP is the same as PEAQ, the IP price would be about $1; if the market cap of IP is the same as AR, the IP price would be about $0.672.
In addition, Bybit data shows that the pre-market trading price of IP (Story) is currently reported in the range of $3.6 to $3.8. Combining the valuations of the opening price of IP from various KOLs on the X platform, it is believed that the conservative expectation for IP is between $1.5 and $2.5, the neutral expectation is between $2.5 and $3.5 (based on a $2.25 billion financing valuation), and the optimistic expectation is between $3.5 and $5.0.
IP (Story) pre-market data on Bybit
Currently, the community holds a positive and expectant attitude towards the quantity of the Story IP token airdrop today. Many early interactive users believe that the project's airdrop policy will bring substantial rewards to real users. "The project team has always emphasized giving rewards to real users, and the initial token incentive has reached 10%, which is a significant arrangement!" Many users who participated in the early interactions of Story and Discord OG users expressed that they are full of confidence in the project's future development. Some optimists even believe that with such high financing and market enthusiasm, Story's IP token is very likely to be listed for spot trading on Binance soon.
So, are you ready to welcome the IP token airdrop claims and trading opening this afternoon?
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