Virtuals Protocol to Launch First AI Agent I.R.I.S. on Ethereum

Virtuals Protocol has launched its autonomous agent platform on the Ethereum mainnet, allowing decentralised AI agents to operate directly within Ethereum’s smart contract ecosystem. The system enables these agents to perform on-chain actions, respond to external data, and coordinate with other contracts independently of centralised control.

The launch was acknowledged by Ethereum.org on June 9, with a post stating “Ethereum is for AI,” signaling Ethereum’s increasing involvement in blockchain-based artificial intelligence systems.

As part of this deployment, Virtuals Protocol is set to introduced I.R.I.S, developed by Nethermind—a long-standing Ethereum software and R&D firm—and is the first Virtuals agent built specifically for Ethereum Layer 1.

What is I.R.I.S?

I.R.I.S. is a Virtual Agent deployed on Ethereum and powered by AuditAgent, an experimental platform developed by Nethermind for automated smart contract security analysis.

Unlike traditional agents limited to on-chain data, I.R.I.S. operates across both on-chain and social channels. It is designed to meet developers where they work—scanning conversations, analysing code snippets, and surfacing security issues in real time. This includes monitoring developer activity on public platforms to detect vulnerabilities or trends as they emerge.

The agent was built using Nethermind’s internal research and data. Whilst Nethermind created the underlying platform, the I.R.I.S. agent is owned and operated by Virtuals Protocol, which manages its token model, deployment, and integration within the wider ecosystem.

How is the IRIS token being distributed?

I.R.I.S. is launching alongside a native token, also called IRIS, via the Genesis Launch system. This points-based mechanism rewards users who previously staked or interacted with Virtuals Protocol components. Participants earned “Virgen Points,” pledged them during a 24-hour window, and locked $VIRTUAL tokens to claim their allocation.

No tokens were pre-allocated to the team or investors. Half of the IRIS supply is distributed to the Ethereum community under individual caps to reduce concentration. The other half supports developer incentives and the ecosystem treasury, with enforced vesting schedules governed by smart contracts.

At the token generation event, a native IRIS/ETH liquidity pool will go live on Ethereum mainnet, enabling immediate trading.

How to participate in the token launch?

Participation in the Genesis Launch begins by pledging Virgen Points, which determines a participant’s estimated token allocation, up to a maximum of 0.5% of the total supply. The final allocation is calculated proportionally based on all points pledged. If the launch succeeds, only the points needed for the user’s allocation are burned; the remainder is refunded.

Next, users must commit up to 566 $VIRTUAL tokens, which serve as the settlement asset for the purchase. If the event is oversubscribed, users receive a reduced token amount, and any excess $VIRTUAL is returned.

Once the Genesis Launch completes successfully, users can visit the Agent page to claim their IRIS tokens. If the launch fails, all points and tokens are refunded.