Infrared Bera
IBERA
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
IBERA (Infrared Bera) functions as the liquid staking derivative for BERA on the Berachain network, issued by Infrared Finance. The protocol shows robust technical execution with active development (score 7.5), an extensive multi-firm audit track record including Zellic, Spearbit, Cantina, and Code4rena (score 6.5), and solid institutional backing via Berachain's Build-a-Bera program and a $14M Series A (score 6.0). However, the asset faces significant structural limitations: community support is weak as a standalone asset (score 4.0) with all governance held by the separate IR token; tokenomics reflect validator concentration, top-holder concentration, and low realized yields (score 5.5); and market metrics indicate severe illiquidity with minimal daily trading volume and derivative-only utility (score 3.5). No qualifying catastrophic red-flag events were established. The weighted average of all six sections yields an overall score of 5.6/10.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About Infrared Bera (IBERA)
Infrared Bera (IBERA, also referred to as iBERA) is a liquid staking token issued by Infrared Finance on the Berachain blockchain. The asset is designed to provide liquid staking exposure to BERA, allowing participants to earn Berachain Proof-of-Liquidity rewards while maintaining a transferable token for use in decentralized finance protocols such as Beefy, Beraborrow, and Dolomite. iBERA features an elastic supply mechanism with auto-compounding rewards and is backed 1:1 by BERA staked through Infrared's validator architecture.
Infrared Finance was incubated through the Berachain Foundation's Build-a-Bera program and received $14 million in Series A financing. iBERA itself operates purely as a staking derivative wrapper and confers no native governance rights, as protocol governance is handled entirely by a separate token, IR. Smart contracts supporting the protocol have undergone multiple security assessments and audits by firms including Zellic, Spearbit, Cantina, and Code4rena, in addition to automated static analysis.
Several structural and security considerations surround the asset. Protocol documentation lists an "Infrared Finance Incidence Response Security Review" dated February 24, 2025, indicating that an early-2025 security incident occurred, although specific loss amounts and exploit details remain unverified in available records. Additionally, iBERA experiences low trading liquidity with daily trading volumes ranging between $2,000 and $6,500 against a market capitalization of roughly $13 million to $16 million, accompanied by validator concentration, holder concentration in top wallet addresses, and a realized staking yield of approximately 2.98%.