This section demonstrates how to pay an IP Asset in TypeScript.

There are a few reasons you would pay an IP Asset:

• you simply want to "tip" an IP
• you have to because your license terms with that IP require you to forward a certain % of payment

In either scenario, you would use the below payRoyaltyOnBehalf function. When this happens, the Royalty Module automatically handles the different payment flows such that parent IP Assets who have negotiated a certain commercialRevShare with the IPA being paid can claim their due share. This is covered in ...

Prerequisites

• Setup the client object.
• Understand the 💸 Royalty Module

❗️

Important: Before you continue

In order to use the payRoyaltyOnBehalf function below, you'll first need to know a few things.

First, the only way to make payments on Story is if the ERC20 token you're using is whitelisted. Currently the only whitelisted revenue token is SUSD, which is shown here. You can mint some publicly here.

Then, once you have SUSD, you have to approve the Royalty Module to spend them on behalf so it can properly distribute payment to ancestor IPs. Run the approve transaction where the spender is the v1.2 (current deployment supported by the SDK) address of RoyaltyModule here. And the value is >= the amount you're paying with the SDK.

Paying an IP Asset

You can pay an IP Asset using the payRoyaltyOnBehalf function. There are two situations where you'd be calling this function.

To help with the following scenarios, let's say we have a parent IP Asset that has negotiated a 50% commercialRevShare with its child IP Asset.

Tipping an IP Asset

In this scenario, you're an external 3rd-party user who want to pay the child 2 SUSD for being cool. When you call the function below, you should make payerIpId a zero address because you are not paying on behalf of an IP Asset. Additionally, you would set amount to 2.

Due to the existing license terms that specify 50% commercialRevShare, 50% of the revenue (2*0.5 = 1) would automatically be claimable by the parent thanks to the Royalty Module, such that both the parent and child IP Assets earn 1 SUSD.

const payRoyalty = await client.royalty.payRoyaltyOnBehalf({
  receiverIpId: '0x0b825D9E5FA196e6B563C0a446e8D9885057f9B1', // child ipId
  payerIpId: zeroAddress,
  token: SUSD, // insert SUSD address from https://docs.story.foundation/docs/deployed-smart-contracts
  amount: 2,
  txOptions: { waitForTransaction: true },
})

console.log(`Paid royalty at transaction hash ${payRoyalty.txHash}`)

export type PayRoyaltyOnBehalfRequest = {
  receiverIpId: Address;
  payerIpId: Address;
  token: Address;
  amount: string | number | bigint;
  txOptions?: TxOptions;
};

export type PayRoyaltyOnBehalfResponse = {
  txHash?: string;
  encodedTxData?: EncodedTxData;
};

Paying Due Share

In this scenario, lets say the child IP Asset earned 2 USD off-chain. Because the child owes the parent IP Asset 50% of its revenue, it needs to send 1 USD to the parent.

The amount should still be 2. This is because the Royalty Module will automate the payment, such that, like the tipping scenario, 1 SUSD would be kept for the child and 1 SUSD would be claimable by the parent.

const payRoyalty = await client.royalty.payRoyaltyOnBehalf({
  receiverIpId: '0xDa03c4B278AD44f5a669e9b73580F91AeDE0E3B2', //parentIpId
  payerIpId: '0x0b825D9E5FA196e6B563C0a446e8D9885057f9B1', // childIpId
  token: SUSD, // insert SUSD address from https://docs.story.foundation/docs/deployed-smart-contracts
  amount: 2,
  txOptions: { waitForTransaction: true },
})
console.log(`Paid royalty at transaction hash ${payRoyalty.txHash}`)

export type PayRoyaltyOnBehalfRequest = {
  receiverIpId: Address;
  payerIpId: Address;
  token: Address;
  amount: string | number | bigint;
  txOptions?: TxOptions;
};

export type PayRoyaltyOnBehalfResponse = {
  txHash?: string;
  encodedTxData?: EncodedTxData;
};