Currently it is just packaging, but when combined with work of @ko1 we could achieve real compiling in order to boost start-up speed and also protect intellectual properties.
I talked to @ko1 last year after his presentation about AOT compiling for Ruby at RailsConf, and it seems like we were missing a piece of the puzzle at that time, which is to preserve the file system structure after compiling, in order to accommodate `__FILE__` and `require` calls. I achieved it now with the help of libsquash(https://github.com/pmq20/libsquash). So now in runtime every path that begins with `/__enclose_io_memfs__/` got redirected to the memory, and so are your project files.