Infrared Finance (IR): Uses, Supply and Risks

Infrared Finance is a DeFi protocol built around Berachain’s Proof of Liquidity (PoL) system. Its products are designed to make it easier for users to take part in PoL and access liquid staking-style positions. The project offers iBERA, iBGT and PoL vaults. These products are distinct from IR: IR is the project’s token, while iBERA and iBGT are product tokens associated with the protocol’s Berachain services. The project also describes work on node infrastructure and vaults.

Berachain uses PoL to connect liquidity provision with network incentives. Infrared’s stated aim is to make that mechanism more accessible and help capture value within the Berachain ecosystem. That describes the project’s focus, not a guarantee that users will earn rewards or that its products will retain their value. The IR token is issued on BNB Chain and Berachain, so it is important to distinguish the token from the protocol products and to check which network an exchange or wallet is using.

IR is associated with protocol governance. Public descriptions identify voting on matters such as protocol parameters, fees and treasury whitelists as uses for the token. Governance rights can depend on the protocol’s rules, including how votes are counted and whether tokens must be held or delegated in a particular way. Check the current governance materials before assuming that holding IR gives you a specific voting entitlement.

IR should not be confused with iBERA or iBGT, which are products tied to Infrared’s liquid staking and PoL services. Nor does simply owning IR necessarily make you eligible for vault rewards or staking returns. Rewards, where available through a protocol product, can have separate conditions and risks. Token governance does not guarantee that proposals will pass, that a proposal will be implemented as expected, or that a decision will benefit every holder. Public sources do not establish a fixed revenue share or a guaranteed yield for IR holders.

IR has a maximum and total supply of 1 billion tokens. About 205 million were circulating as of November 5, 2026, meaning most of the stated maximum supply was not included in the circulating figure on that date. Public sources do not specify the release schedule or explain when the remaining tokens may enter circulation. Future changes in circulating supply can affect how holders assess dilution and the token’s market value.

As of November 5, 2026, IR traded at about $0.00267, with a market capitalization of about $547,000 and a fully diluted valuation of about $2.7 million. These are snapshots, not stable measures: price, market capitalization, trading volume and circulating supply can change. The token’s reported all-time high was about $0.304 on December 21, 2025, and its reported all-time low was about $0.00240 on November 1, 2026. Past prices do not indicate what IR will be worth in the future.

IR is listed as issued on both BNB Chain and Berachain. It is not identified as the native token of either chain. This matters when receiving or sending IR: a wallet address or exchange deposit may support one network but not the other, and sending a token over an unsupported network can result in loss of access. Confirm the network and token details in your wallet or exchange before making a transfer.

For self-custody, use a wallet that supports the relevant chain and protect its recovery phrase offline. Do not share a seed phrase or private key with anyone, including people claiming to provide support. A hardware wallet can reduce some online risks, but it cannot prevent mistakes such as approving a malicious transaction or sending tokens to the wrong address. If you use a custodian, you rely on that provider to safeguard assets and process withdrawals. Check that you are handling IR, rather than a similarly named token or a protocol product such as iBERA or iBGT.

IR carries the risks of a small crypto asset as well as risks tied to a DeFi protocol and its ecosystem. Its market price can move sharply, and the market capitalization and trading figures reported for November 5, 2026 do not guarantee that you can trade at those levels later. The circulating supply is substantially below the stated maximum, while public sources do not set out the schedule for future releases. That uncertainty can make supply changes difficult to assess.

Infrared’s products depend on Berachain, its PoL design, and the security and operation of relevant contracts and validators. Smart-contract flaws, operational failures, changes to incentives, governance decisions or problems in the wider ecosystem could affect protocol products and user funds. Liquid staking and vault positions may also have risks that differ from simply holding an asset, including loss of value or difficulty withdrawing. Review the specific product terms and current contract information before using a protocol feature; no token or protocol use guarantees a return.