The Virtuals protocol has launched its own proxy platform on the Ethereum mainnet, allowing decentralized AI proxy to run directly within Ethereum’s smart contract ecosystem. The system enables these agents to perform chain actions, respond to external data and coordinate with other contracts, independent of centralized control.
Ethereum.org endorsed the release on June 9 and published an article saying “Ethereum is for AI”, which shows that Ethereum is constantly involved in blockchain-based artificial intelligence systems.
As part of this deployment, the virtual protocol was set to introduce IRIS by Nethermind (long-standing Ethereum Software and R&D companies) and was the first virtual proxy built specifically for Ethereum Layer 1.
Source: Virtual ProtocolWhat is iris?
IRIS is a virtual proxy deployed on Ethereum, powered by Auditagent developed by Nethermind, an experimental platform developed by Nethermind for automated smart contract security analysis.
Unlike traditional agents that are limited to chain chain data, IRIS runs both on chain and social channels. It is designed to meet with developers they work for – scan conversations, analyze code snippets, and surface security issues in real time. This includes monitoring developers’ activity on public platforms to detect vulnerabilities or trends that appear.
The proxy is built using Nethermind’s internal research and data. Although Nethermind created the underlying platform, the Iris agent is owned and operated by the Virtuals protocol, which manages its token model, deploys and integrates into a wider ecosystem.
Source: Virtual ProtocolHow are iris tokens distributed?
Iris is launched with a local token (also known as Iris) through the Genesis Launch System. This point-based mechanism rewards users who have previously interacted or interacted with virtual protocol components. Participants received “Virgen Points” and secured them in a 24-hour window and locked the $Virtual tag to ask them to assign.
No tokens have been pre-allocated to the team or investors. Half of the iris supply is allocated to the Ethereum community to reduce concentration. The other half supports developers’ incentives and the Ministry of Finance of the Ecosystem and a mandatory attribution schedule managed by smart contracts.
In Token Generation Events, a local IRIS/ETH liquidity pool will be live streamed on the Ethereum main network, allowing for immediate transactions.
Source: Virtual ProtocolHow to attend a token conference?
Participating in Genesis launches begins with ensuring Virgen points, which determines the estimated token allocation of participants, which can account for up to 0.5% of the total supply. The final allocation is calculated based on all promised points. If the release is successful, only the points required by the user allocation are burned; the rest are refunded.
Next, users must commit up to $566 in virtual tokens, which are the purchased settlement assets. If the event is oversubscribed, the user will receive the reduced token amount and return any excess $virtual.
Once Genesis release is successfully completed, users can access the proxy page to request their iris token. If the release fails, all points and tokens will be refunded.
