• Use the SDK
• Use a Smart Contract

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Using the SDK

In this tutorial, you will learn how to send money (“tip”) an IP Asset using the TypeScript SDK.

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The Explanation

In this scenario, let’s say there is a parent IP Asset that represents Mickey Mouse. Someone else draws a hat on that Mickey Mouse and registers it as a derivative (or “child”) IP Asset. The License Terms specify that the child must share 50% of all commercial revenue (commercialRevShare = 50) with the parent. Someone else (a 3rd party user) comes along and wants to send the derivative 2 $WIP for being really cool.

For the purposes of this example, we will assume the child is already registered as a derivative IP Asset. If you want help learning this, check out Register a Derivative.

• Parent IP ID: 0x42595dA29B541770D9F9f298a014bF912655E183
• Child IP ID: 0xeaa4Eed346373805B377F5a4fe1daeFeFB3D182a

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0. Before you Start

There are a few steps you have to complete before you can start the tutorial.

1. You will need to install Node.js and npm. If you’ve coded before, you likely have these.
2. Add your Story Network Testnet wallet’s private key to .env file:

WALLET_PRIVATE_KEY=<YOUR_WALLET_PRIVATE_KEY>

3. Add your preferred RPC URL to your .env file. You can just use the public default one we provide:

RPC_PROVIDER_URL=https://aeneid.storyrpc.io

4. Install the dependencies:

npm install @story-protocol/core-sdk viem

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1. Set up your Story Config

In a utils.ts file, add the following code to set up your Story Config:

• Associated docs: TypeScript SDK Setup

import { StoryClient, StoryConfig } from "@story-protocol/core-sdk";
import { http } from "viem";
import { privateKeyToAccount, Address, Account } from "viem/accounts";

const privateKey: Address = `0x${process.env.WALLET_PRIVATE_KEY}`;
export const account: Account = privateKeyToAccount(privateKey);

const config: StoryConfig = {
  account: account,
  transport: http(process.env.RPC_PROVIDER_URL),
  chainId: "aeneid",
};
export const client = StoryClient.newClient(config);

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2. Tipping the Derivative IP Asset

Now create a main.ts file. We will use the payRoyaltyOnBehalf function to pay the derivative asset.

You will be paying the IP Asset with $WIP. Note that if you don’t have enough $WIP, the function will auto wrap an equivalent amount of $IP into $WIP for you. If you don’t have enough of either, it will fail.

Now we can call the payRoyaltyOnBehalf function. In this case:

1. receiverIpId is the ipId of the derivative (child) asset
2. payerIpId is zeroAddress because the payer is a 3rd party (someone that thinks Mickey Mouse with a hat on him is cool), and not necessarily another IP Asset
3. token is the address of $WIP, which can be found here
4. amount is 2, since the person tipping wants to send 2 $WIP

import { client } from "./utils";
import { zeroAddress, parseEther } from "viem";
import { WIP_TOKEN_ADDRESS } from "@story-protocol/core-sdk";

async function main() {
  const response = await client.royalty.payRoyaltyOnBehalf({
    receiverIpId: "0xeaa4Eed346373805B377F5a4fe1daeFeFB3D182a",
    payerIpId: zeroAddress,
    token: WIP_TOKEN_ADDRESS,
    amount: parseEther("2"), // 2 $WIP
  });
  console.log(`Paid royalty at transaction hash ${response.txHash}`);
}

main();

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3. Child Claiming Due Revenue

At this point we have already finished the tutorial: we learned how to tip an IP Asset. But what if the child and parent want to claim their due revenue?

The child has been paid 2 $WIP. But remember, it shares 50% of its revenue with the parent IP because of the commercialRevenue = 50 in the license terms.

The child IP can claim its 1 $WIP by calling the claimAllRevenue function:

• ancestorIpId is the ipId we’re claiming revenue for
• currencyTokens is an array that contains the address of $WIP, which can be found here
• claimer is the address that holds the royalty tokens associated with the child’s IP Royalty Vault. By default, they are in the IP Account, which is just the ipId of the child asset.

import { client } from "./utils";
import { zeroAddress, parseEther } from "viem";
import { WIP_TOKEN_ADDRESS } from "@story-protocol/core-sdk";

async function main() {
  // previous code here ...
  const response = await client.royalty.claimAllRevenue({
    ancestorIpId: "0xDa03c4B278AD44f5a669e9b73580F91AeDE0E3B2",
    claimer: "0xDa03c4B278AD44f5a669e9b73580F91AeDE0E3B2",
    currencyTokens: [WIP_TOKEN_ADDRESS],
    childIpIds: [],
    royaltyPolicies: [],
  });

  console.log(`Claimed revenue: ${response.claimedTokens}`);
}

main();

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4. Parent Claiming Due Revenue

Continuing, the parent should be able to claim its revenue as well. In this example, the parent should be able to claim 1 $WIP since the child earned 2 $WIP and the commercialRevShare = 50 in the license terms.

We will use the claimAllRevenue function to claim the due revenue tokens.

1. ancestorIpId is the ipId of the parent (“ancestor”) asset
2. claimer is the address that holds the royalty tokens associated with the parent’s IP Royalty Vault. By default, they are in the IP Account, which is just the ipId of the parent asset
3. childIpIds will have the ipId of the child asset
4. royaltyPolicies will contain the address of the royalty policy. As explained in Royalty Module, this is either RoyaltyPolicyLAP or RoyaltyPolicyLRP, depending on the license terms. In this case, let’s assume the license terms specify a RoyaltyPolicyLAP. Simply go to Deployed Smart Contracts and find the correct address.
5. currencyTokens is an array that contains the address of $WIP, which can be found here

import { client } from "./utils";
import { zeroAddress, parseEther } from "viem";
import { WIP_TOKEN_ADDRESS } from "@story-protocol/core-sdk";

async function main() {
  // previous code here ...

  const response = await client.royalty.claimAllRevenue({
    ancestorIpId: "0x089d75C9b7E441dA3115AF93FF9A855BDdbfe384",
    claimer: "0x089d75C9b7E441dA3115AF93FF9A855BDdbfe384",
    currencyTokens: [WIP_TOKEN_ADDRESS],
    childIpIds: ["0xDa03c4B278AD44f5a669e9b73580F91AeDE0E3B2"],
    royaltyPolicies: ["0xBe54FB168b3c982b7AaE60dB6CF75Bd8447b390E"],
  });

  console.log(`Claimed revenue: ${response.claimedTokens}`);
}

main();

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5. Where does revenue get claimed to? Why do I not see it in my wallet? Why is it in the IP Account?

A couple of things to note here:

1. By default, revenue is claimed to the IP Account, not the IP owner’s wallet. This is because when an IP is created, the royalty tokens for that IP (where revenue gets claimed to) are minted to the IP Account.

2. To transfer revenue from IP Account -> IP Owner’s wallet, an IP owner can run the transferErc20 function (it will not work if you run it for someone else’s IP obviously).

   main.ts

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   Ask AI

   // Docs: https://docs.story.foundation/sdk-reference/ipaccount#transfererc20
   const transferFromIpAccount = await client.ipAccount.transferErc20({
     ipId: "0xDa03c4B278AD44f5a669e9b73580F91AeDE0E3B2",
     tokens: [
       {
         address: WIP_TOKEN_ADDRESS,
         amount: parseEther("1"),
         target: "0x02", // the external wallet
       },
     ],
   });
   

3. If the IP owner (the wallet that owns the underlying IP ownership NFT) had called claimAllRevenue before, our SDK would automatically transfer the revenue to the IP owner’s wallet for convenience.

4. If the IP owner wants revenue to always be claimed to their wallet and avoid the middle step, they should transfer the royalty tokens from the IP account to their wallet.

   main.ts

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   // Get the IP Royalty Vault Address
   // Note: This is equivalent to the currency address of the ERC-20
   // Royalty Tokens for this IP.
   const royaltyVaultAddress = await client.royalty.getRoyaltyVaultAddress(
     "0xDa03c4B278AD44f5a669e9b73580F91AeDE0E3B2" as Address
   );
   
   // Transfer the Royalty Tokens from the IP Account to the address
   // executing this transaction (you could use any other address as well)
   const transferRoyaltyTokens = await client.ipAccount.transferErc20({
     ipId: "0xDa03c4B278AD44f5a669e9b73580F91AeDE0E3B2" as Address,
     tokens: [
       {
         address: royaltyVaultAddress,
         amount: 100 * 1_000_000, // 100% of the royalty tokens
         target: "0x02", // the external wallet
       },
     ],
   });
   

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6. Done!

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Using a Smart Contract