Original | Odaily (@OdailyChina)
Author | Asher (@Asher_0210)
On February 11, Story posted on X that "the public mainnet will be launched on February 13, and the IP airdrop application and eligibility query will be opened at the same time." Previously, Story released the IP token economic model, with a total supply of 1 billion IP tokens, with an initial unlocking of 25%, i.e., 250,000,000 IP tokens, with the specific allocation plan as follows:
Ecosystem and community: 384,000,000 IP tokens, accounting for 38.4% of the initial total supply, this part of the tokens is dedicated to promoting the growth of the ecosystem and the development of the community through supporting developers, community members and real users of Story in market ing, events, funding and other activities;
Initial incentives: 100,000,000 IP tokens, accounting for 10% of the initial total supply, this part of the tokens is used for the early reward program to incentivize the growth of Story, half of which (5%) will be distributed to users through direct claiming on the day of public mainnet launch and in the following months; the other half (5%) will be allocated to ecosystem projects, and it is clearly stipulated that all rewards must be distributed to end users;
Foundation: 100,000,000 IP tokens, accounting for 10% of the initial total supply, this part of the tokens includes support for employees and services and education to promote the development of the Story blockchain, which will allow 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 part of the tokens includes early investors and advisors;
Early contributors: 200,000,000 IP tokens, accounting for 20% of the initial total supply, this part of the tokens is compensation for recruiting and retaining team members who have contributed to the development of the Story blockchain.
As of now, centralized exchanges such as OKX, Bybit, Bitget, Kucoin, MEXC, and the Korean exchange Bithumb have announced that they will list IP spot trading at 5pm Beijing time today. In addition, the Binance wallet now supports the Story network.
Next, Odaily will take you to understand the upcoming Story, the airdrop eligibility requirements, the community's sentiment towards the token airdrop, and the IP opening price forecast.
Story Project Introduction
Story is committed to building a programmable knowledge and creativity marketplace, allowing all intellectual property assets to be registered on a customizable general ledger. These assets are equipped with composable interfaces that can be called by any software application or AI model, realizing the use and monetization of intellectual property on the internet. Story's native token 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 whitepaper).
In May 2023, Story completed a $29.3 million seed round financing, led by a16z Crypto, with participants including 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, with a16z leading the investment, and Hashed, Endeavor, Samsung Next, dao5, and Insignia Venture Partners participating.
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, K11 founder Adrian Cheng, digital art collector Cozomo de'Medici, and No Capital. The new round of financing has brought PIP Labs' total financing to $143 million, with a valuation of $2.25 billion, making it a unicorn company.
At the time of the latest financing, the Story developer ecosystem had more than 200 teams developing services for more than 20 million IPs, covering areas such as IPFi (IP Finance), AI, and consumer markets.
Token airdrop eligibility requires a Passport score of at least 20 points, with a 30-day claim period
Starting on the day of the public mainnet launch, the team will implement strict anti-sybil measures, including the use of the Passport scoring system, to ensure that more rewards in future initial incentive activities can be fairly distributed to community members. 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 occupy the rewards of participants aligned with Story's long-term development goals, and to maintain the healthy development and fairness of the community.
According to the latest news, users need to complete 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, it has been tested by hundreds of projects. Users will have 30 days to claim the airdrop rewards starting from February 13.
Regarding the "Story airdrop eligibility requires a Passport platform score of at least 20 points", Story co-founder Jason Zhao supplemented in the comments: "21 years old and above is the age limit for drinking in bars in the US. A score of 20 points and above can participate in Story's reward claiming."
The longer the staking period, 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, marking the arrival of the "Big Bang Block", and with this milestone, the staking rewards on the Story blockchain will begin to be released. Each block will distribute 1.9477989871 IP tokens, and at a block time of 3 seconds, approximately 55,555 IP tokens will be distributed per day.
Staking is the foundation for 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 earning more rewards, with the following coefficients:
Flexible staking → 1x multiplier;
90-day staking → 1.1x multiplier;
360-day staking → 1.5x multiplier;
540-day staking → 2x multiplier;
For example, if a user stakes 2,000 IP tokens for 90 days, they will receive a reward equivalent to staking 2,200 IP tokens.
Furthermore, to further supplement network security, locked tokens can also be staked. However, the reward will be a 0.5x multiplier, and these rewards will be locked for at least 6 months to ensure the priority of the community.
IP Opening Price Forecast
As Story is an L1 project, it can be compared to NEAR (an L1 project focused on AI), 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 is around $4, and if the market cap of IP is the same as NEAR, the IP price is around $15.24;
If the FDV of IP is the same as AR, the IP price is around $0.64, and if the market cap of IP is the same as AR, the IP price is around $2.56;
If the FDV of IP is the same as PEAQ, the IP price is around $1, and if the market cap of IP is the same as AR, the IP price is around $0.672.
In addition, Bybit data shows that the pre-market trading price of IP (Story) is currently in the range of $3.6 to $3.8. Combining the valuation of the IP opening price by major KOLs on the X platform, it is believed that the conservative expectation of IP is $1.5 to $2.5, the neutral expectation is $2.5 to $3.5 (based on a $2.25 billion financing valuation), and the optimistic expectation is $3.5 to $5.0.
Pre-market data of IP (Story) on the Bybit platform
Currently, the community has a positive and expectant attitude towards the amount of IP token airdrop for Story today. Many early participants in the interaction believe that the project's airdrop policy will bring generous rewards to the real users. "The project has always emphasized giving real users, and the initial token incentive has reached 10%, the layout is full!" Many users who participated in the early interaction of Story and Discord OG users said that they are full of confidence in the future development of the project. Some optimists even believe that with such high financing and market enthusiasm, the IP token of Story may well be listed on Binance spot trading in the near future.
Are you ready to claim and trade the IP token airdrop this afternoon?
