This extension is designed for people who deal with possible malicious IP addresses. The extension will stop you from accidentally searching for an IP address as it will stop the connection at the browser stage so there are no outbound connections to the IP address, this would be useful if you regularly have malicious IP addresses in your clipboard.
The extension allows you to enable private IP addresses and to add IP addresses to an allow list so if you regularly go to a certain IP address you don’t have to disable the extension to go to it.