Odaily News On September 16, at the annual ceremony of "FAT Awards 2024" hosted by Odaily Planet Daily and co-organized by Bitget. Bu Fan, head of Story Protocol IPFi, defined IPFi as: supporting financial market activities (storing and transferring asset value) in the IP field and building an open and trustless financial ecosystem. In practice, Bu Fan believes that IPFi has three stages: the first stage still retains the core goals and functions of DeFi; the second stage begins to experiment with new token forms, empowering IP with new tokens and methodologies; the third stage may develop into structured IPFi, concrete IPFi services for creators, with more derivative token forms, or develop into experimental IPFi, providing IP services with purely new mechanisms, focusing on serving the long-term ecological needs of IP.