Stave
How it works

From a song to a share, in four steps.

Partnership

IPOA owns the data. Stave puts it on Solana.

Off-chain · IPOA
Traditional rights organisation
  • Government mandate across Georgia
  • Collects streaming, mechanical, performance and broadcast royalties
  • Pays artists and rightsholders directly
  • Shares verified data with Stave
On-chain · Stave
Solana-native marketplace
  • Turns IPOA data into a score
  • Splits each catalog into on-chain shares
  • Investors buy and sell with USDC, any Solana wallet
  • Distributes royalty payouts on-chain, pro-rata

The full canonical partnership flow is documented in docs/00-positioning.md.

The investor journey

From a song to a share, in four steps.

01
IPOA verifies the catalog

Georgia's official rights organization shares verified ownership and royalty data with Stave.

02
Stave grades the catalog

An open-source engine produces a grade from AAA to B from that data.

03
You buy fractional shares

Each catalog is split into 1,000 Solana shares; buy as little as one with USDC or SOL.

04
Royalties pay out on-chain

When royalties arrive, holders claim pro-rata in USDC straight from the on-chain vault.

Methodology

Five layers, one composite score.

Open-source, deterministic, fully traceable. 31 passing tests in engine/.

L1
Data normalization

Monthly USD, currency-aligned.

L2
Decay modeling

Exponential or power-law fit, lower-residual wins.

L3
Anomaly detection

Rolling z-score across the time series.

L4
Concentration & VaR

HHI + 1k-iter Monte Carlo for 60-mo CVaR.

L5
Grade aggregation

Five factors → composite → tier.

Want the math?
Every formula behind the engine, open-source on GitHub.
Open FORMULAS.md
Glossary

The terms that matter.

Click any row to expand. The deeper technical glossary lives in engine/FORMULAS.md.

Composite score
0–100 number that drives every grade.
Weighted blend of five factors that come out of the rating engine. Higher score = better grade. The mapping from score to letter tier (AAA → B) is a deterministic table.
FMV / NAV
Fair market value (per catalog) and net asset value (per index).
FMV is what a catalog is worth, given its forecast cash flows. NAV is the same idea applied to an index, computed as the weighted-average FMV of the underlying catalogs divided by the index unit size.
USDC
The stablecoin the marketplace settles in.
Buyers pay in USDC, royalty deposits arrive in USDC, claims pay out USDC. Today on devnet uses a faucet-able test mint; mainnet would use Circle's real USDC.

Want the actual math? FORMULAS.md →

Ready?

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