Potential Story Protocol Airdrop: Guide on Interacting with Odyssey Testnet

How to Interact With Story Protocol's Testnet

To interact with Story Protocol's Odyssey testnet, you will need testnet tokens. Once you have testnet IP tokens, you can stake them on Story and interact with various projects in the Story ecosystem.

Key Takeaways

• Story Protocol is building a Layer 1 infrastructure to introduce the Intellectual Property (IP) system to the blockchain and empower users to register for IP’s.

• It was founded in 2022 and has successfully raised $140 million in funding over several rounds with participation from notable investors like a16zcrypto, Samsung Next, and dao5.

• On November 8, 2024, the protocol announced the launch of its final testnet, Odyssey, whereby interested users can interact with the protocol’s ecosystem.

Intellectual Property (IP) refers to any type of creation such as inventions, literary work, designs, and artistic works. It is protected through the law by patents, copyright, and trademarks which allow creators to earn recognition or financial benefit from their creations. Unfortunately, IP can prove to be challenging for the everyday person to obtain due to varying laws and legal frameworks. 

Story Protocol is a San Francisco-based firm working to prevent artificial intelligence entities like OpenAI from taking a creator’s IP without their consent. The protocol is introducing the IP system to the blockchain in order to further empower digital creators and users. On top of that, the team is working to create a liquid, accessible, and programmable digital asset class. Through Story, creators can prove their involvement in creating something and store their IP on the platform. 

As a Layer 1 protocol, the infrastructure brings technical improvements to the common Ethereum Virtual Machine (EVM) execution environment by introducing various tools. For example, Story’s infrastructure is able to manage the exponentially growing computational demands of downstream royalty payments and efficiently distribute royalties. Story is also fully EVM-equivalent, allowing developers to smoothly bring existing applications to the protocol. 

Another layer in Story’s infrastructure is the modular Proof-of-Creativity Protocol which enables programmable IP functionalities like permissionless licensing, automated royalty payments, and more. The protocol is embedded into the Layer 1 blockchain and connects directly to the legal system via the Programmable IP License (PIL) which is a universal IP license agreement that safeguards code and law. 

By combining these two layers, Story is able to on-ramp IP’s to the blockchain and off-ramp it for traditional use cases. This allows users to find a suitable solution to their IP needs. For example, Magma is a project for designers that offers users the ability to register their work as an IP asset by generating a blockchain record. At the same time, these users can set the pricing and permission terms for others to use their work through Story’s Programmable IP License. 

On top of empowering creators to register their IP on the blockchain, Story Protocol wants to make tokenized IP accessible for financial participation too. Dedicated tokens will be used to handle licensing and royalties so that applications can tap into IP assets and create opportunities for users. For example, creating liquidity pools for specific IP’s royalty tokens or trading its licensing tokens could allow users to earn from these assets. 

Story Protocol was founded in 2022 by Seong Yoon ‘SY’ Lee, Jason Levy, and Jason Zhao. SY Lee previously founded Radish, a mobile serial fiction platform, that was acquired in 2021 by Korea’s Kakao Entertainment. Jason Levy was leading content at Episode, an interactive storytelling game, and Jason Zhao was previously working at Google’s DeepMind as a product lead where he translated AI research into customer-facing applications.

On August 21, 2024, Story announced that it had successfully raised $80 million in a series B round led by a16z crypto, bringing the protocol’s total fundraising up to $140 million. Other notable investors include Samsung Next, dao5, Foresight Ventures, Nomad, Two SmallFish Ventures, and more.  

Story Protocol officially launched its final testnet, Odyssey, on November 8, 2024, to showcase how Story’s ecosystem of applications can unlock IP’s potential. Given the protocol’s potential to unlock a new finance sector in IP, now is an ideal time to interact with the Odyssey testnet and learn more about the future of IP’s on the blockchain. 

Do take note that the Story team has not made any official announcement on the launch of a token or accompanying airdrop. Therefore, following the steps below to participate in the Story Odyssey Testnet does not guarantee a future token airdrop allocation. 

Step 1: Setup Your Wallet and Claim Testnet Tokens

First, head over to https://faucet.story.foundation/ and proceed to Connect Wallet. 

You can choose from a list of different wallets. In this guide we will be using a MetaMask wallet.

You will also need to confirm your humanity by completing the CAPTCHA and passing the Gitcoin Passport humanity score. If your humanity score is below 5, you will need to open the Gitcoin Passport link and connect your wallet to recalculate your score. 

The purpose of verifying your humanity on Gitcoin Passport is to discourage people from using multiple accounts to get airdrops. You can earn humanity points through Ethereum activity, holding NFTs, connecting social accounts, and more.

Once you have connected your wallet and proven your humanity, you can Claim 1 $IP on Story Odyssey.

Step 2: Stake (Optional)

Staking is an optional step because it requires you to have a minimum amount of 1,024 IP but the faucet distributes 1 IP every 24 hours. 

If you are able to stake your IP, visit https://staking.story.foundation/ where you can proceed to Connect Wallet.

You can then choose from a list of available validators.

After selecting your validator, you can Stake your IP.

Step 3: Interact with Ecosystem Partners

You will also need to interact with various projects in the Story ecosystem. The whole list of active and upcoming partners is available at https://www.story.foundation/ecosystem. 

There are almost 100 partner projects at the time of writing. 

We recommend that you go through each one to which projects you are comfortable to participate in. 

Interacting with various projects in the ecosystem is a positive indicator to Story Protocol that you are an engaged community member. 

Conclusion

Story Protocol is bringing the IP system to the blockchain through their Layer 1 infrastructure that introduces programmable IP for creators to license, remix, and monetize according to their own terms. Interested users can now participate in the Odyssey Testnet to learn more about how projects can build on Story’s infrastructure and provide IP services to users.

However, do note again that airdrop farming is highly speculative and following the above is no guarantee of an airdrop allocation.