Today's TGE Analysis of $IR

Project Positioning: Infrared Finance is the core infrastructure layer of the Berachain ecosystem, focusing on liquidity staking, validator infrastructure, and automated PoL treasury under the Proof of Liquidity (PoL) mechanism. This protocol transforms Berachain's non-transferable tokens ($BGT and $BERA) into liquid, yield-generating assets (iBGT, iBERA), unlocking liquidity while retaining governance and staking rewards.

Financing Situation:

Total Financing: $18.75M (1875 million dollars) Round 1 (2024.1): $2.5M Round 2 (2024.6): $2.25M Round 3 (2025.3): $14M Institutional Cost: Average $0.088/$IR (Institutional allocation 21.3%)

⚠️ "Peak without issuing tokens, now issuing tokens" : The protocol's revenue peaked in March without issuing tokens, but chose to issue tokens in December after a 99.6% revenue drop ⚠️ Berachain Ecosystem Weakness: Revenue decline is directly related to the overall activity decrease in the Berachain ecosystem ⚠️ Balancer V2 Hacking Incident Impact: In November 2024, Balancer V2 on Berachain was hacked, resulting in a loss of $120 million, severely impacting ecosystem confidence.

Initial Circulation Analysis:

Total Circulation: 20.5% (205M $IR) Project Team Holding: < 15.75% Initial Selling Pressure: > 4.75% (Airdrop 4% + Partial Community Allocation) Binance Alpha TGE: 0.75% (7.5M $IR, $150K raised)