**From 1 Billion Transactions on Testnet to Mainnet Launch: The Irys Flywheel Starts Turning** Let’s talk about Irys. Observing it at this moment feels somewhat akin to noticing Solana before its breakout moment. The core of this is that Irys has entered a track that is both massive in scale and experiencing explosive growth: on-chain data. The proliferation of artificial intelligence is driving exponential growth in data volume, and Irys is currently the only blockchain built from the ground up to store, validate, and truly utilize this data. This positioning alone provides Irys with a significant structural advantage. Irys’s tokenomics are cleverly designed, directly aiming for deflation. All network activities—whether for storage, execution, or programmable data transactions—incur fees, and these fees directly result in token burns. Specifically, 50% of execution fees and 95% of long-term storage fees are permanently removed from circulation. This means the more active the network is, the more tokens are burned, while the total circulating supply of $IRYS tokens remains capped—currently, only about 20% of the supply is in circulation, with team and investor allocations locked for the first year. Simple supply-and-demand math: as demand grows, the available supply continues to shrink, creating a clear logic for value appreciation. Unlike other data chains that rely solely on storage for revenue, Irys has three separate revenue streams, collectively creating multiple layers of deflationary pressure. The technical architecture of Irys addresses real pain points for developers by providing full EVM compatibility through IrysVM. This means developers can use the Solidity contracts and tools they are already familiar with, while gaining access to massive, low-cost data storage. Irys unifies complex infrastructure layers—such as storage, execution, and validation, which traditionally require handling across different chains—into a single system. For developers, the experience is simple and seamless, which is evident from the over 1 billion transactions processed during the testnet phase (without any token incentives). This shows that the product has found its sweet spot. This design philosophy of "simplicity on the surface, sophistication underneath" is the key to attracting developers to Irys. Regarding the team, Irys’s founder Josh has an impressive track record. Despite being only 23 years old, this is already his second foray into building blockchain data infrastructure. At 19, he dropped out of college to found Bundlr, which at one point processed over 95% of Arweave’s transaction volume. Notably, he later shut down that successful project because he envisioned something even more ambitious. This hands-on, frontline experience has enabled him to precisely identify the shortcomings of existing infrastructure and design Irys from scratch to address them. Institutions like Mira Network, Reppo AI, and 375ai have already partnered with Irys around its mainnet launch, which serves as a strong endorsement of the team and the feasibility of its solutions. Speaking of partnerships, Reppo AI is a particularly notable example. This is a native AI platform that has migrated high-frequency, #AI-driven data streams directly to the Irys mainnet. Every data contribution and model verification generates on-chain activity, meaning continuous fees and sustained demand for $IRYS tokens. This validates the concept of "programmable data," where developers can embed rules and validation logic directly into the data itself—something that cannot be achieved elsewhere. The influx of AI-generated data is only just beginning. In terms of the bigger picture, Irys can be seen as the third evolutionary step in blockchain technology: Bitcoin introduced on-chain currency, Ethereum achieved on-chain finance, and Irys aims to bring on-chain data. It makes data itself programmable. The current mainnet launch is only the first phase of the protocol. In the coming months, with the activation of key upgrades like programmable data, more institutional data sets will migrate onto Irys, including those related to AI validation, sensor networks, and research archives. These aren’t one-time events but a series of ongoing catalysts. When comparing Irys to other market solutions, its advantages become even clearer. For instance, compared to Filecoin, Irys offers instant data retrieval and flexible storage terms (including permanent storage), with smart contracts natively able to access and utilize stored data. Compared to Arweave, Irys’s costs are expected to be significantly lower (permanent storage is estimated at about $0.03 per GB per year), with a native execution layer integrated, offering better performance and verifiability. I believe Irys is currently in a very early price discovery phase. The mainnet is live, and liquidity is accumulating on multiple exchanges, but the massive amount of data from the testnet has yet to be migrated. The deflationary flywheel of its tokenomics has not fully spun up. Over the next few months, as protocol upgrades roll out and institutional data migration reaches substantive stages, the burn effects from increased network activity will become more evident. For an infrastructure layer designed to capture the global wave of data growth, the current market valuation clearly does not yet reflect its long-term potential. From a trading perspective, this is definitely an early-stage opportunity worth paying attention to. @cn_irys_xyz #Irys