Is it possible to compile iRules into a binary/encrypted format for distribution as an app?

As far as I know, there is no way to compile iRule as binary. If you are looking to create standard templates, you many consider creating iApps. It works only in version 11 and higher.

Thanks for your response Prash. I'm new to F5's development capabilities. Looks like iApps makes it possible to nicely wrap your configuration changes (i.e. iRules?) into a single package, but how do you enforce licensing restrictions?

Regards

An iApp is a way to package a configuration, but does not in and of itself prevent tampering with the included iRule(s). You cannot compile an iRule yourself. You can certainly obfuscate, encode, and/or encrypt portions of an iRule, but given that the iRule processor needs to be able to access the underlying code, you would have to also provide the de-obfuscation, decoding, and/or decrypting functions with that iRule.