Iris.ai is an impact-driven, for-profit international startup founded in 2015 at Singularity University to build and AI-powered science assistant. Aiur is a project ideated by Iris.ai to create an open, community-governed AI Engine for Knowledge Validation.

Iris.ai will play an initial role kickstarting project Aiur and managing it during Phase 1. This initial Phase 1 will run a maximum of 18 months. With that backstop, or before then, if so decided via a combination of objective maturity metrics and a community vote, the project will move into Phase 2.

In Phase 2 the maximum token ownership cap, initially set at 2%, will be extended to Iris.ai too.  Excess tokens will then be either burnt or redistributed to other community members, with a view to rewarding valuable contributions building Aiur, in particular from founding members.

As initial project manager Iris.ai will retain 25% of the funds raised via the Aiur token sale. The remaining 75% will be will consigned to a Project Development Fund, which will act as an escrow smart contract to competitively fund projected milestone developments.

Read more about how Iris.ai & Project Aiur relate on our blog.