Overall Mechanism
Registration by Creator/Artist: The creator or artist starts by registering their work to launch an IP. They submit details including the total supply of tokens, the percentage of tokens to be sold, and the initial offer price.
IPad Submission: The IP details are sent to the IPad platform, which acts as the central processing point within this ecosystem.
IP Asset Registration and Receipt: The IP asset is registered within the governance contract, transitioning it into an ERC-721 asset, which is a standard for representing ownership of non-fungible tokens (NFTs).
Contract Initialization: An initial contract is created using the information from the creator. This contract defines the terms and rules associated with the IP ownership.
IPCO Participation: Interested parties can participate in the launchpad, potentially to bid or stake on IP offerings.
ERC-404 Token Receipt: Participants receive tokens, which represent fractional ownership of the IP. These tokens allow holders to engage in governance and other activities within the ecosystem.
Staking and Trading on IPFi: Token holders can stake their tokens to participate in IP Studio (7a) or trade/swap their tokens in the IPFi platform (7b), which likely supports a variety of financial activities related to IP.
Royalty Payments: When IP is used, the user pays royalties. The mechanism for royalty distribution is managed through the IP governance structure, ensuring creators and token holders receive compensation for the use of their IP.
Royalty Claims in Governance: Token holders can claim royalties for the governed IP, potentially receiving a share of the earnings from the use of the IP.
Royalty Distribution Based on Stakes: The royalties are distributed to the token holders based on the amount they have staked, aligning their rewards with their investment in the IP.
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