IRIS Network
IRISnet is a Cosmos SDK-based Layer-1 blockchain serving developers, validators, and EVM users with cross-chain interoperability, an iService protocol for off-chain business integration, and EVM-compatible smart contract deployment.
- Company typePrivate
- Founded2019
- HeadquartersShanghai, China
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What IRIS Network does
IRIS Network (IRISnet) is a Layer-1 blockchain network launched in 2019 and operated by Cygnus Technology Limited, a Hong Kong–incorporated entity limited by guarantee. It is built using the Cosmos SDK with Tendermint BFT consensus and is positioned as an interchain service hub for next-generation distributed business applications (dApps). The platform serves three primary user groups: blockchain developers building interchain dApps and EVM-compatible smart contracts, validators and token delegators who secure the network via Proof-of-Stake consensus, and EVM users seeking cross-chain asset management through the itoken conversion platform. Core technology components include the IBC protocol for cross-chain interoperability, the proprietary iService protocol for bridging on-chain transactions with off-chain business logic, full EVM compatibility (ChainID 6688), interchain NFT transfers via TIB (Terse IBC), HTLC-based atomic swaps, an integrated Coinswap AMM module, and — as of the IRISnet 3.0 upgrade in 2024 — a Liquidity Staking Module (LSM) and native-token-to-ERC20 binding at a 1:1 ratio.
IRIS Network firmographics
Firmographics- Name
- IRIS Network
- Legal name
- Cygnus Technology Limited
- Website
- https://irisnet.org
- Company type
- Private
- Founded year
- 2019
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- IRISnet is a Cosmos SDK-based Layer-1 blockchain serving developers, validators, and EVM users with cross-chain interoperability, an iService protocol for off-chain business integration, and EVM-compatible smart contract deployment.
- Ownership category
- akta.pro rank
Where IRIS Network is headquartered
LocationHeadquarters
- HQ city
- Shanghai
- HQ country
- China
- HQ region
- Asia
Markets served
IRIS Network business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales
Revenue model
- IRIS Token Utility: The native IRIS token serves three purposes: (1) Staking - used as staking token to secure the PoS blockchain, (2) Transaction Fee - used to pay fees for all transactions in the IRIS network, (3) Service Fee - service providers charge fees denominated in IRIS token.
- Staking Rewards: Validators and delegators earn rewards through block inflation (4% annual rate), block proposer rewards, and transaction fees. Validators can apply commission on delegators' revenue.
Go-to-market motion1 record
Distribution channels3 records
Marketing channels4 records
IRIS Network product offering
Product offeringCore offering
IRISnet is a Proof-of-Stake blockchain hub built using the Cosmos SDK and Tendermint BFT consensus, designed to bridge blockchain networks with real-world business systems. It provides cross-chain interoperability through the IBC protocol and a service-oriented infrastructure (iService) that mediates the lifecycle of off-chain services, alongside EVM compatibility for smart contract deployment. The native IRIS token secures the network, pays transaction fees, and settles service fees.
Product overview
IRISnet (IRIS Hub) is an Interchain Service Hub built using Cosmos SDK and Tendermint, designed as the foundation for next-generation distributed business applications. The platform provides cross-chain interoperability through IBC (Inter-Blockchain Communication) and a service protocol (iService) that bridges blockchain with conventional business systems. The core architecture includes multiple functional modules: IRIS Services (iService) for off-chain service integration, Interchain NFTs for cross-chain NFT transfers, TIB (Terse IBC) for lightweight interchain communication, EVM Integration for Ethereum compatibility, Native Token ERC20 Binding for token swaps, Coinswap for decentralized exchanges, NFT and MT modules for asset digitization, Oracle and Random modules for data and verification, HTLC for atomic swaps, and LSM for liquidity staking. The ecosystem includes developer tools (IRIShub Client SDKs, ChainIDE), multiple wallet integrations (Rainbow, Math Wallet, Keplr, Cosmostation, and others), and professional staking/validation services supporting multiple Cosmos ecosystem networks.
Differentiator
Problem solved
Functional benefit
Products and services
- IRIS Hub The central Proof-of-Stake blockchain hub built on Cosmos SDK and Tendermint, serving as an Interchain Service Hub for developing next-generation distributed business applications with cross-chain interoperability through IBC and iService protocols.
- IRIS Services (iService) Service-oriented protocol bridging blockchain and conventional business applications, mediating the complete lifecycle of off-chain services from definition, binding, invocation to governance including profiling and arbitration.
- Staking and Validation Services Professional validation services with auto-scaling sentry nodes, DDoS protection, governance participation, and support for multiple networks including Cosmos, GravityBridge, Persistence, StaFiHub, Neutron, and Stride.
- IRIShub Client SDKs Client-facing programming language-specific SDKs for easy interaction with IRIShub and consumption of off-chain services within the IRIS network.
- ChainIDE for IRISnet Cloud-based IDE environment for developing EVM smart contracts and native Cosmos applications on IRISnet, supporting both EVM (Solidity) and Native (Cosmos) environments.
- Token Conversion Platform (itoken) Self-serve platform enabling conversion between native IRIS tokens and ERIS (EVM token) at 1:1 ratio for EVM compatibility, allowing EVM users to swap between ERC20 contracts and native tokens.
Companies that use IRIS Network
Customer profileSegments3 records
Ideal customer profiles3 records
IRIS Network technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration11 records
Feature7 records
IRIS Network partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered core, major and minor.
- Interchain FoundationcoreStrategic partner and investor in the Cosmos ecosystem. IRISnet is designed as part of the larger Cosmos network, connecting as a regional hub.
- TendermintcoreCore technology provider for consensus mechanism. IRIS Hub is built on Tendermint BFT consensus protocol.
- HashKeymajorStrategic partner in the Asian blockchain ecosystem.
- BinancemajorMajor cryptocurrency exchange supporting IRIS token trading and ecosystem integration.
- ChainlinkmajorOracle integration for external data and real-world information feeds into IRISnet blockchain.
- CoinMarketCapminorCryptocurrency data platform providing market data and visibility for IRIS token.
Scale indicators3 records
Recent moves6 records
Expansion highlights5 records
IRIS Network competitors and assessment
Company assessmentDirect peers
- Juno: A community-driven Cosmos smart contract platform built with CosmWasm. Targets the same horizontal developer audience as IRISnet within the Cosmos zone ecosystem.
- Cosmos Hub: The flagship Cosmos SDK hub and the original interchain service hub. IRISnet was designed as a regional hub connecting to Cosmos Hub and shares the same Tendermint BFT + IBC architecture, targeting similar validator and developer audiences.
- Cronos: An EVM-compatible Cosmos chain (built on Crypto.org) targeting cross-chain DeFi and IBC connectivity. Cronos is listed as an IRISnet integration partner and competes directly for EVM + Cosmos multi-VM developers.
- Stride: A Cosmos liquid staking protocol that competes directly with IRISnet's newly launched LSM (Liquidity Staking Module). Stride is also listed as a network IRISnet validates for.
- Osmosis: The leading Cosmos-native DEX and liquidity hub built on Cosmos SDK and IBC. Competes with IRISnet's Coinswap module for DeFi activity and validator delegations within the Cosmos ecosystem.
- Neutron: A permissionless smart contract platform on Cosmos via CosmWasm. Competes with IRISnet for interchain dApp developers and validator stake within the same Cosmos interchain ecosystem.
- StaFi: A liquid staking protocol with Cosmos and Substrate integrations. Direct overlap with IRISnet's LSM and listed as a technology integration partner.
- Kava: A Cosmos-EVM hybrid chain combining Cosmos SDK interoperability with EVM smart contract execution. Kava is explicitly listed as a cross-chain DeFi partner of IRISnet and competes for the same EVM-on-Cosmos developer mindshare.
- Gravity Bridge: A Cosmos-Ethereum bridge enabling asset transfers between the two ecosystems. Direct overlap with IRISnet's HTLC module and cross-chain interoperability focus.
- Persistence: A Cosmos SDK chain focused on real-world assets and liquid staking. Listed as a network IRISnet validates for and competes in the same interchain service + DeFi niche.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks5 records
Key highlights6 records
Customer concentration
IRIS Network social profiles
Digital presenceIRIS Network financial estimates
Financial estimateRevenue estimate
Valuation estimate
IRIS Network leadership team
Management profileNumber of profiles
Profiles1 record
IRIS Network funding detail
Funding detailFunding overview
Funding rounds1 record
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
IRIS Network M&A and investment
M&A and investmentM&A
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about IRIS Network
What does IRIS Network do?
IRISnet is a Proof-of-Stake blockchain hub built using the Cosmos SDK and Tendermint BFT consensus, designed to bridge blockchain networks with real-world business systems. It provides cross-chain interoperability through the IBC protocol and a service-oriented infrastructure (iService) that mediates the lifecycle of off-chain services, alongside EVM compatibility for smart contract deployment. The native IRIS token secures the network, pays transaction fees, and settles service fees.
Is IRIS Network a public or private company?
IRIS Network is a private company. It is classified as unknown and is currently operating.
When was IRIS Network founded?
IRIS Network was founded in 2019. It employs 11 to 50 people.
Where is IRIS Network based?
IRIS Network is headquartered in Shanghai, China, in the Asia region.
How does IRIS Network make money?
Two revenue lines are on record. IRIS Token Utility is the primary driver. The others are staking Rewards.
Who are IRIS Network's main competitors?
Direct peers on record are Juno, Cosmos Hub, Cronos, Stride, Osmosis, Neutron, StaFi, Kava, Gravity Bridge and Persistence.
Does IRIS Network have an API?
Yes. IRISnet provides multiple API interfaces for blockchain interaction: Legacy Amino JSON REST API, gRPC Gateway JSON REST, gRPC Client, and Ethereum JSON-RPC for EVM compatibility. The platform supports Go-based SDK development with IRIShub Client SDKs available. EVM JSON-RPC runs on port 8545 with WebSocket support on port 8546, supporting eth, net, web3 namespaces. Developer documentation is at www.irisnet.org/docs.