Infrared Finance
About
Infrared is a liquid staking and yield optimization protocol built on Berachain that simplifies participation in the Proof of Liquidity (PoL) mechanism. It offers PoL vaults that automate LP token deposits, validator delegation, and BGT-to-iBGT conversion, alongside iBERA (a liquid staking token for BERA) and iVaults for curated DeFi strategies. The protocol is designed for both individual users seeking one-click PoL access and protocols wanting to deploy purpose-built vaults through a permissionless factory.
Where Does Yield Come From?
Infrared makes money for users through four main products, all tied to how Berachain's two-token system works (BERA for gas fees and staking, BGT for governance and incentives).
PoL Vaults — these let you deposit LP tokens (tokens that prove you've provided liquidity on a decentralized exchange like Kodiak or BEX). Infrared's smart contracts automatically delegate that pooled liquidity to its validators (the computers that secure the network). In return, the vault earns BGT (a governance token that normally can't be moved or traded). Infrared wraps that BGT into iBGT, a tradable version, at a 1-to-1 rate. So you get iBGT plus any swap fees the liquidity pool itself collects. That iBGT can then go into Infrared's iBGT staking pool to earn extra rewards, paid out at a rate per second set by the protocol. The APRs update every 20 minutes based on live rewards, the value deposited, and token prices.
iBGT — this is a liquid (freely tradable) wrapper for BGT. It's minted 1-to-1 from BGT that Infrared's vaults earn. You can't turn iBGT back into BGT directly, but if you deposit it into Infrared's iBGT staking pool, it earns rewards from the delegation incentives that go to Infrared's validators. The contract reports the reward rate per second, scaled to a yearly figure. You can also use iBGT in other DeFi apps (Pendle, Kodiak, Beefy, etc.) to stack yield in different ways.
iBERA — a liquid staking token for BERA. You stake BERA (the gas-and-network token of Berachain) and get iBERA 1-to-1. Infrared stakes that BERA with its own validators, earning consensus rewards (block rewards plus transaction fees from Berachain's proof-of-stake layer). Rewards are collected in periodic "sweep events." Yield is measured by how much iBERA grows per sweep, then annualized based on how often sweeps happen. Unstaking takes about 30 hours because of validator cooldown rules.
iVaults — curated DeFi strategy vaults (for example, BYUSD-HONEY) that automatically compound a mix of iBGT yield and yield from partner platforms.
Fees — Infrared only takes fees from reward streams, not from your original deposit. The harvest operator fee is 10%, the harvest vault fee is 10% on rewards going to iBGT vaults, the harvest bribes fee is 10%, and the harvest boost fee ranges from 1% to 10% depending on how iBGT's price compares to BERA's. Swap fees are 0% for iBGT and iBERA, 0.05% for single-asset tokens, and 0.2% for LP tokens. Infrared's own governance token (IR) also powers a Delegated Incentive System that sends a portion of protocol fees toward buybacks and incentives through the Red Fund.
Persons
Raito
Co-founder
Audits
| Audit / Date | Findings | Verdict |
|---|---|---|
Cantina Managed (R0bert & Slowfi)24-01-2026 |
| No critical or high-severity vulnerabilities were identified, but eight medium-risk findings across auction mechanics, validator management, and access controls warrant attention before deployment; the draft report does not indicate remediation status, so final safety depends on whether the Infrared Finance team addresses these issues prior to mainnet launch. |
Cantina03-12-2025 |
| This Cantina Managed review found no critical vulnerabilities, with two high-severity issues relating to Execution Layer/Consensus Layer stake accounting that must be resolved before deployment. The medium and low findings should be addressed to strengthen protocol safety, but the overall risk profile is manageable for a PR-focused audit. |
Cantina (Cantina Managed)26-11-2025 |
| The review uncovered one high-severity issue (transfer-blocking rewards) and several medium-severity logic flaws that warrant prompt remediation, but no critical vulnerabilities were found, suggesting the codebase has a moderate risk profile when the identified findings are addressed before deployment. |
| The review identifies one high-risk configuration issue that must be resolved before the Bera→BNB lane can function, but no critical or medium vulnerabilities were found in the code itself. The informational items reinforce standard operational best practices for LayerZero OFT deployments. | |
| The review identified no exploitable vulnerabilities, with only two minor informational code-quality issues noted, indicating a strong security posture for the audited Infrared PR 643 codebase. | |
Cantina12-11-2025 |
| The audit found no critical or high-severity vulnerabilities, indicating a reasonably sound codebase for Infrared Finance's PR 639, though the single medium-severity inflation risk and one low-severity edge case should be remediated before production deployment. |
| The Cantina Managed review identified one high-risk storage collision and four medium-risk issues that warrant priority attention before production deployment, while the remaining findings are lower-severity design/implementation improvements typical of a pre-launch audit. | |
Cantina (Cantina Managed)12-11-2025 |
| This audit found no security vulnerabilities in the Infrared PR 600 codebase — only two informational suggestions (code comments and a permissionless rewards claim function) were flagged, indicating a clean security posture for the reviewed commit. |
Cantina12-11-2025 |
| The review found no critical or medium-severity vulnerabilities; the single high-severity finding (lost unaccrued rewards on reward duration updates) and low-severity finding (inability to remove malicious reward tokens) should be addressed before deployment, while the six informational items represent code quality improvements. |
Cantina01-07-2025 |
| The review identified one high-severity storage collision risk and four medium-severity issues affecting withdrawal/staking logic, all of which warrant remediation before production deployment; the 15 informational items largely concern best-practice improvements and protocol-architecture notes rather than exploitable vulnerabilities. |
Cantina (0xRajeev, Cryptara)25-03-2025 |
| The review found no security vulnerabilities (Critical, High, Medium, or Low) in the BribeCollector contract, only Gas Optimizations and Informational suggestions, indicating the code is sound from a security standpoint. Remediation of the 7 minor findings would improve gas efficiency, readability, and best practices but no issues pose an immediate risk to protocol safety. |
Cantina Managed (MiloTruck, Cryptara)23-03-2025 |
| This audit identified no vulnerabilities of critical, high, medium, or low severity — only three informational suggestions — indicating the reviewed Infrared contracts were found to be in strong security posture at the time of assessment. |
Spearbit24-02-2025 |
| This Spearbit incidence response review for Infrared Finance documents the analysis of a security incident but does not enumerate standard vulnerability severity counts; the substantive findings on pages 4–6 were not accessible via the document viewer, limiting the assessment of the protocol's current safety posture. |
| The audit reveals one High-severity vulnerability (underflow risk) and several Medium-severity design issues that should be addressed before production deployment; none of the findings were flagged as Critical, and the overall risk profile is moderate given the identified attack surfaces in bribe mechanics, validator deposits, and access control. | |
Zellic10-10-2024 |
| This was a testing suite improvement engagement, not a security vulnerability audit, so no security findings or severity counts are reported. The report has no implications for protocol safety as security was explicitly scoped out. |
Cantina09-08-2024 |
| The audit found no critical or high-severity vulnerabilities, but the 13 medium-severity findings — covering reward-loss conditions, griefing vectors, and access-control risks — warrant thorough remediation before mainnet deployment. The substantial number of low and informational items also signals that code maturity and testing coverage should be improved. |
Zellic25-04-2024 |
| The Zellic audit report for Infrared Finance exists and is dated April 25, 2024, but the PDF content beyond the first 4 pages could not be extracted for analysis, so the severity breakdown and detailed findings are unavailable. |
Backers
Infrared Finance completed a $2.5M seed round (January 26, 2024) led by Synergis, with participation from NGC Ventures, Tribe Capital, CitizenX, Shima Capital, Dao5, Signum Capital, Ouroboros Capital, Decima, Oak Grove Ventures, DoraHacks, Tenzor Capital, and angel investors including Alex Shin, Albert Chon, Charles Lu, Mr. Block, Chris Spadafora, DCFGod, and others. The protocol also raised a $2.25M strategic round (previously undisclosed) led by Binance Labs, Hack VC, and NLH. In March 2025, Infrared announced a $14M Series A round led by Framework Ventures, with participation from Citizen X, Halo, NLH, NGC Ventures, Selini Capital, and others. Per the official announcement, the total raised since founding in 2024 amounts to $18.75M. Infrared was also the first project incubated by the Berachain Foundation's Build-a-Bera incubator.
Legal
Legal form
Multiple entities: Infrared Development Inc. (corporation/Inc., based in Panama); Infrared Operations Limited (BVI business company); Infrared Foundation (Cayman Islands foundation).
Registration jurisdiction
Panama (Infrared Development Inc.); British Virgin Islands (Infrared Operations Limited, incorporated 2025-02-21, LEI 52990003ZJFSNEV67B10); Cayman Islands (Infrared Foundation); Home Member State under MiCA: Malta.
Status and notes
Operator disclosed as Infrared Development Inc. (Privacy Policy & Terms of Use). Token issuer for EU MiCA compliance is Infrared Operations Limited (BVI), whose sole director is the Infrared Foundation (Cayman Islands, director Marc Piano). Terms governed by laws of England & Wales with ICC arbitration. Privacy policy states the company is based in Panama. Contact: [email protected]. Security contact: [email protected]. Terms last updated May 18, 2025; Privacy Policy last updated November 15, 2024.