IBRL

IBRL is the demonstration token of Gavel, a token distribution platform on Solana, used to validate the issuance mechanism in a live setting: of a supply of one billion, seventy percent is distributed during a one-day public allocation in proportion to deposits, and the remaining thirty percent is paired with part of the proceeds into a sandwich-resistant automated market pool so the opening price equals the clearing price of the allocation. The rest of the proceeds buys and burns tokens from the pool on an exponential decay schedule, while pool liquidity is withdrawn in tranches on a schedule and converted into tokens that are burned.

In category terms it sits in token distribution and liquidity bootstrapping within infrastructure, serving teams that need to run an issuance and build a pool on-chain. The mechanism point is writing market making, buyback and burn into autonomously executable on-chain flows driven by a permissionless crank, with the initiator retaining neither tokens nor proceeds; swaps are charged thirty basis points. In May 2025 the demonstration issuance closed and participants received tokens in proportion to deposits.