> For the complete documentation index, see [llms.txt](https://ipusd.gitbook.io/ipusd-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://ipusd.gitbook.io/ipusd-docs/ipusd.md).

# ipUSD

Royalty income was reserved for institutions. Now it's open to anyone with ipUSD.

ipUSD is the USD stablecoin on Soneium, backed 1:1 by Startale USD (USDSC) and USDC.

IP Vault is the royalty investment layer built around ipUSD. Users subscribe with ipUSD, wait for Settlement, and receive IP Vault shares priced at NAV.

The Vault begins with a tokenized position in **Partners Group Diversified Royalties Opportunities Evergreen**, managed by Partners Group and tokenized by Asseto.

The basic flow is:

**Get ipUSD → Subscribe → Settle → Hold shares**

ipUSD and IP Vault shares are separate assets. Holding ipUSD does not provide exposure to royalty returns or changes in the Vault’s NAV. IP Vault shares represent a proportional interest in the Vault, whose value reflects its RWA positions, ipUSD liquidity buffer, and assets in settlement.

The IP Vault holds tokenized fund interests rather than direct ownership of individual songs, films, patents, brands, or other intellectual property.

Users can exit through Instant Withdrawal or Standard Withdrawal and receive ipUSD back.

#### Official links

* Website: <https://ipusd.xyz>
* Discord: [Soneium Discord](https://discord.com/invite/soneium)