Just found out that the AriaIP token launched on @buidlpad is now tradable. Seems like not many people are talking about it. It's the ecosystem's top project on the @StoryProtocol chain, @Aria_Protocol. Currently, the returns are a little over double. Checked the token distribution structure, and the initial circulating supply officially announced is 33%. But the project team directly holds 26%. Binance Alpha: 1% Buidlpad: 1% Community: 5% (Aria Points 1%, IP Holder airdrop 1%, IP staking 1%). Based on my understanding of IP, this token is already highly controlled in terms of distribution. Plus, AriaIP is airdropped to IP Holders, so the actual circulating tokens in the market should be very limited. For retail investors, the only ways to get it are likely through Alpha and Buidlpad. So while it looks like the circulating supply is large, in reality, most of it is held by the project team. I suspect the actual circulating supply outside might not even reach 1%. Did some research and found that this project has been announced by Upbit and Bithumb to airdrop tokens to IP Holders. I don’t recall any Korean exchanges supporting something like this before. Could this be a hint that the token might get listed on Korean exchanges? For now, the token is only listed on Alpha and smaller exchanges. If it gets listed on a futures exchange later, the current market cap isn’t actually that high, right? The high-controlled explosive pumps from previous IP projects left a strong impression on me. I’ve taken a small position to see if this ecosystem’s top project can deliver some surprises.