As you may have seen last week, $APL is officially live!
To recap, $APL is Aria’s first IPRWA (Intellectual Property Real-World Asset) token. It is a fungible token backed by iconic music partial income rights acquired by Aria. Token holders gain exposure to income streams of royalty-generating tracks. Holders must stake their $APL to start earning royalties. $APL brings a new kind of asset onchain: productive IP which one can access, stake, and earn from.
If eligible, you can claim $APL via the Aria webapp. Community members are eligible to claim if the following requirements are met:
Participation in the Aria Premiere Launch via StakeStone
Held AriaDebutLP tokens in your wallet on May 16, 2025 at 12:00 PM UTC
Located within an eligible jurisdiction (please check full list of restricted regions here).
Alternatively, you may be able to purchase $APL on a decentralized exchange on the Story network such as PiperX or StoryHunt, depending on market availability and your jurisdiction. Check out the original launch blog post, which explains key information about $APL, user eligibility, how to claim, and details the tokenomics of staking and royalties.
As we enter this next chapter of building the financial infrastructure for iconic real-world IP, we want to answer the most frequently asked questions we’ve received from the community.
FAQ’s:
What did I actually buy when I deposited on Stakestone?
Depositors bought a tokenized share of real music IP income. Each $APL token is backed by partial income rights to a catalog of iconic IP acquired by Aria, such as songs performed by artists like BLACKPINK, Justin Bieber, and Miley Cyrus. These rights entitle token holders to a share of potential revenue generated by streaming, licensing, and other monetization sources for intellectual property ownership at the protocol level.
Breaking down $APL:
Funds were raised via the Stakestone LiquidityPad.
These funds were used to acquire partial income rights to a portfolio of iconic IP, such as songs performed by artists like BLACKPINK, Justin Bieber, and Miley Cyrus.
These rights were tokenized & fractionalized into a fungible token, $APL. This is a type of ‘IPRWA’ token, meaning it is backed by Intellectual Property Real World Assets.
This IPRWA token, $APL was launched on June 25 2025 as a fully liquid token available for claiming (for eligible wallets), trading and staking. For all important information on the claim, eligibility and $APL generally read the launch post here.
$APL holders earn royalties by staking the token. These royalties will be distributed to stakers via buyback on a regular basis, with the first payment distributed on July 1 2025. For more information about how royalties work check out this article.
I deposited into the StakeStone vault — was the initial deposit meant to be returned? Was this a stablecoin vault?
During the Aria Premiere Launch on StakeStone LiquidityPad, participants purchased exposure to partial income rights from real-world IP through $APL. This was not a stablecoin vault, nor a principal-guaranteed investment or capital-protected product. Funds raised were used to acquire partial income rights to music IP, not held in reserve. This was stated on the Stakestone deposit page (see graphic below).
Is $APL redeemable 1:1 for USDC?
No, $APL is not a stablecoin and is not redeemable 1:1 for USDC. $APL is a fully liquid, tradable token backed by partial income rights to iconic music IP. Its value is determined by market demand, the performance of the underlying catalog, and royalty yield, and may fluctuate accordingly. As always, we encourage all participants to research and assess their risk tolerance before engaging with any token or protocol.
Why is $APL below $1?
It’s important to note that $APL was never designed to maintain a fixed $1 value. The $1 figure during the raise was a cost basis — not a price guarantee. Eligible wallets can claim 1 $APL per 1 AriaDebutLP token held on the snapshot date May 16, 2025 at 12:00 PM UTC.
Once $APL began trading, it entered open market price discovery, where value is determined by supply and demand. Early price movement can be volatile, especially when liquidity is still forming and some early participants choose to exit. This is normal in crypto markets.
We designed $APL for much more than speculation — its value is tied to staking and royalty yield from real-world IP. Like any productive asset, its performance is best measured over time, not just by short-term price movements.
Why was the claim delayed?
Our first priority is always the security, safety, and well-being of the community. After strong demand from the StakeStone vault raise in February, the Aria team immediately moved into the next critical phase: sourcing and acquiring income-generating IP, which we led with music.
This involved:
Negotiating and finalizing contracts with rights holders and publishers
Performing legal, financial, and rights and due diligence on each catalog and acquired asset
Structuring deals that aligned with our long-term vision and investor protections
Our dedicated team has been heads down, researching, negotiating, and performing due diligence on behalf of the community to ensure the availability of original, high-quality, and iconic music assets. Our priority was to do this right, not just fast. You can view a full list of the assets that are backing $APL here.
Simultaneously, we were finalizing the technical infrastructure for $APL and the foundation of Aria protocol which included token distribution mechanics, staking, royalty routing, and buyback logic to ensure everything was aligned with our core principles of transparency, sustainability, and protocol-first design.
How do I earn a yield from $APL? How is this paid out, and by whom?
Holders earn yield by staking $APL on Aria. Yield comes from the royalty income generated by the intellectual property real world assets in the portfolio. Here’s how it works:
Royalties are collected offchain for the $APL IP portfolio assets by Aria Management Company. These include income from:
Digital streaming
Synchronization
Mechanicals
Public performance
Aria uses that revenue to buy $APL on the open market on DEXs
The purchased $APL is redistributed to stakers by depositing it into the staking contract increasing the value of their staked position.
This process is done on a regular basis; continue to stake to continue to receive royalties.
Additionally, stakers earn Aria Points, which make you eligible for future rewards or distributions. More on Aria Points below.
Learn more about how to stake $APL here
Please note: Aria or affiliated entities may buy, sell, or provide liquidity for $APL at their discretion
What happens if I haven't staked yet and miss a royalty payment? Does it roll over?
No — royalty distributions do not roll over. Royalties are distributed to the users staking $APL at the time of royalty distribution. Users need to stake before the next cycle. Royalties will be distributed on a regular basis, but we're still finalizing an exact timeline - coming soon.
What are Aria Points? Does staking impact points?
Aria Points are a separate reward system and not $APL tokens. Aria Points recognize your participation in the Aria community. and make you eligible for future rewards. The higher your score, the more you will be rewarded in the future.
Staking $APL on Aria, or purchasing $stAPL on a Story DEX, is one way you can earn Aria Points. The longer staking = more points. A weekly snapshot will be taken and those holding $stAPL will be airdropped Aria Points. You can track your points on the Aria webapp.
Outside of staking, you can also grow your Aria Points by:
Completing social quests (via Discord)
Providing liquidity for $APL
Engaging with select ecosystem partners
Need help?
Join our Discord community for support and further announcements
Visit our Gitbook Help Center
The Aria Team
Disclaimer:
This post is for informational purposes only and does not constitute investment advice, legal guidance, or a solicitation to buy or sell any assets in any jurisdiction. Any references to potential yield, participation, or economic exposure are illustrative only and do not guarantee financial performance. All investing involves risk. Always conduct your own due diligence before making financial decisions. Aria works closely with regulatory partners to ensure compliance and investor protection and is committed to transparency and responsible innovation in the IP and blockchain space. Participation in Aria’s products may be restricted by jurisdiction and subject to compliance requirements. Please consult legal, financial, and tax advisors before engaging with tokenized IP assets.
For a comprehensive overview of our $APL disclosures, please refer to the full $APL disclosures page on the Aria webapp here.
About Aria:
Aria is building a new economy for iconic IP. Built on Story, Aria brings music, art, and film/TV rights onchain as fungible, liquid tokens unlocking access to real-world royalties in a scalable and traceable form. Founded by music industry veterans, including David Kostiner (co-founder of IODA, acquired by Sony Music), Aria launched its first tokenized IP asset, $APL, in 2025 representing royalties from partial rights tied to songs performed by Justin Bieber, Miley Cyrus, and BLACKPINK.
