Question 1

What is it?

Accepted Answer

IRIS Network is a project developed around the IRIS token, aiming to establish an infrastructure that will facilitate the development and growth of distributed business applications.

**IRIS Token:** The IRIS token is the native cryptocurrency of the IRIS network, utilized as a medium of exchange within the ecosystem. It is also used as a staking token, a mechanism that secures the network and incentivizes active participation from users.

**IRIS Network:** The network itself is designed to be an interchain service hub for next-gen distributed applications, inspired by the "Internet of Services" vision. Built on top of the Cosmos network, IRIS Network aims to enable cross-chain interoperability, allowing services to be easily integrated across different blockchains.

Question 2

What is it used for?

Accepted Answer

The IRIS token plays several significant roles within the IRIS Network. Its uses include:

**Service Consumption:** Users can spend IRIS tokens to access various services provided within the network.

**Staking and Delegation:** Token holders can stake their IRIS to secure the network, participate in consensus, and earn rewards. Moreover, IRIS can be delegated to trusted validators who then contribute to the network's security on behalf of the delegators.

**Governance:** IRIS tokens also grant holders the right to participate in on-chain governance. Token holders can vote on proposals to change network parameters, upgrade the protocol, and influence the future development of the IRIS Network.

Question 3

Who created it?

Accepted Answer

IRISnet was designed and developed by the team of tech experts behind Bianjie AI, a Shanghai-based high-tech company founded in 2016. Harriet Cao is a co-founder at Bianjie AI and one of the driving forces behind the IRISnet protocol establishment.