This is the version that thought about the irritation problem.
10% niacinamide is a high dose, and Paula's Choice built the rest of the formula around softening it: licorice root, beta-glucan, panthenol, carnosine, green tea. These are genuine soothing and antioxidant ingredients, not label decoration.
It also contains ascorbyl glucoside, a stable vitamin C derivative — a deliberate pairing that quietly demolishes the old myth that niacinamide and vitamin C cannot be used together.
Fragrance-free, and Paula's Choice is unusually rigorous about disclosure.