IRYS-USD Trading Pair May Go Live Today

Coinbase stated that the IRYS-USD trading pair will be listed and may become active later today—provided that liquidity conditions are met. The exact launch time depends on several key factors:

• Sufficient order book depth
• Market makers providing necessary liquidity
• Manageable price volatility at launch
• Ensuring a safe trading environment for users

Once these conditions are met, the IRYS-USD market will go live. This approach is similar to previous Coinbase listings where certain assets experienced slight delays during the initial launch phase.

What Is Irys (IRYS)?

Irys is designed as a programmable “datachain”, combining data storage and smart contract execution within a single Layer-1 architecture. While traditional smart contract networks struggle with large-scale data and data chains don’t natively support smart contracts, Irys bridges this gap through IrysVM, an EVM-compatible execution layer that enables both storage and on-chain computation.

The network offers both term (temporary) and permanent storage options, providing a low-cost, high-performance infrastructure for developers. Its pricing model is built around near-cost storage, making it attractive for data-intensive applications.

What Could the Market Impact Be for IRYS?

The Coinbase listing could have several effects on IRYS in both the short and long term:

• Short term: High trading volume and increased volatility
• Medium term: Significant growth in visibility and awareness
• Long term: Increased monitoring and participation from institutional investors

According to analysts, IRYS—supported by a strong community, clear project objectives, and now a Coinbase listing—may become part of a broader investment strategy for many market participants.

Overall Assessment

Coinbase’s announcement of the IRYS listing marks an important growth milestone for the project. With spot trading set to begin on November 25, 2025, IRYS is poised to gain access to global liquidity. The possibility of the trading pair going live today has already stirred excitement within the community.

The performance of IRYS on Coinbase could directly influence the project’s market value, investor interest, and ecosystem development. All eyes are now on the opening of the IRYS-USD market.

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• Data Chain: Combines data storage and smart contract execution in a single architecture.
• Programmable Data: Allows logic to be written directly into data.
• IrysVM: EVM-compatible execution layer that enables programmability.
• IRYS Token: Used to secure the network and pay for transaction and storage fees.

Team — Founders

Josh Benaron (Founder & CEO): The brains behind the project, Benaron dropped out of Surrey University’s Computer Science program. He founded Irys at age 19, focusing on data provenance and verification. Active on LinkedIn and X, he brings experience in team management and visionary leadership.

West Wolf (CMO – Chief Marketing Officer): Responsible for marketing strategies and driving the growth of the Irys ecosystem.

Tiffany L. (VP of Ecosystem): Coordinates partnerships and integrations, strengthening ecosystem connections.

Investors and Key Partners

Irys completed two major funding rounds in 2024 and 2025:

• 2024: $10 million raised in an extended seed round

• 2025: $10 million Series A round led by CoinFund

Notable investors:

• CoinFund

• Lemniscap

• Hypersphere

• Tykhe Ventures

• Varrock Ventures

• Breed VC

• Amber Group

• Echo Group

• WAGMI Ventures

This investor profile indicates the project is seen as a promising infrastructure in the “datachain + execution” category.

Project Idea

The core idea is to unify a data storage layer with a computation (execution) layer. In traditional blockchains, storage and execution are separate. Irys allows smart contracts to access, compute, and derive value directly from large on-chain datasets through IrysVM, a high-performance EVM-compatible environment.

This enables next-generation on-chain AI, analytics, and automation applications where datasets are not only references but integrated programmatically into logic.

How the Project Works

Irys features a two-layer architecture: storage and execution (IrysVM).

• Users can choose between temporary or permanent storage models.

• Pricing is designed as “at-cost,” meaning storage fees are close to actual infrastructure costs.

• IrysVM can read data directly from storage, interpret it, and execute embedded instructions.

• The network scales horizontally; new validators join as demand grows, distributing data partitions.

• Data retrieval is instantaneous with minimal latency.

This makes Irys a fully integrated Layer-1 network for both storage and computation.

Irys is the first blockchain that makes data not only storable but programmable. Users can write logic directly into data, allowing smart contracts and AI agents to interact with it natively on-chain.

Data first enters the Submit Ledger for validation and is then promoted to the Publish Ledger for long-term, verifiable storage. Term-based ledgers allow users to choose custom storage durations.

Governance

Irys aims for a fully decentralized governance model in the long term. The IRYS token will eventually be used for:

• Protocol updates

• Storage model parameters

• IrysVM improvements

• Economic adjustments

Currently, the focus is on technical infrastructure and ecosystem growth, with governance gradually rolling out.

Roadmap

Key milestones according to Irys’ official announcements:

• 2024: Data model design, IrysVM development, storage architecture completion

• 2024–2025: Testnet phases, validator onboarding, economic model deployment

• 2025: Series A funding, network infrastructure scaling, ecosystem partnership expansion

• Post-2025: Mainnet, governance launch, programmable-data-focused application layer

The roadmap emphasizes development phases and ecosystem partnerships.

IRYS Token Use Cases

The IRYS token has multiple uses on the network:

• Staking by validators

• Execution fees (smart contract operations)

• Storage fees (term & permanent storage)

• Fees for programmable data operations

• Value recovery through token burning

• Governance voting

IRYS functions as both an economic security layer and a network utility token.

Token Information

Known token details:

• Deflationary token model

• Annual validator reward: 2%, halving every four years

• 50% of execution fees are burned

• 95% of term-storage fees are burned

• Permanent storage fees go to the “Irys Storage Endowment” and are removed from circulation

This ensures token supply tightens as network usage grows.

• Total Supply: 10,000,000,000 IRYS

• Max Supply: Not specified

• Circulating Supply: 2,000,000,000 IRYS

Token Allocation

• Ecosystem: 30% (~3.0 B) – Grants, cross-chain projects, integrations

• Foundation: 9.9% (~1.0 B) – Core development, audits, education

• Airdrop & Future Incentives: 8% (~0.8 B) – Community & developer programs

• Liquidity & Launch Partners: 8% (~0.8 B) – Market making and exchange liquidity

• Team & Advisors: 18.8% (~1.9 B) – 1-year cliff + 36-month linear release

• Investors: 25.3% (~2.5 B) – 1-year cliff + 36-month linear release (Alpha round: 0.72% vesting variation)

Ecosystem

Irys targets data-heavy Web3 projects, including:

• On-chain AI model storage and execution

• DePIN device data systems

• On-chain media, NFT licensing, and archiving platforms

• Data licensing marketplaces

• Data-intensive DeFi applications

Through IrysVM, projects can use both their own and other protocol data, enabling cross-chain “data composability.”

Binance Alpha: Irys (IRYS) will debut on the Binance Alpha platform on November 25, allowing users to trade the token.

Features

• Unified Layer-1 architecture for storage and execution

• Execute embedded logic on data via IrysVM (Programmable Data)

• Term and permanent storage options

• Near-cost storage pricing

• Triple revenue model: storage + execution + programmable data

• Horizontal scalability (unlimited data capacity)

• Instant data retrieval

• Hybrid uPoW/S consensus

• Deflationary token model (high burn rates)

• Validator structure ensures data integrity through economic incentives

Official Links

• Website
• Twitter

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