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3 months ago127.0.0.1 is a special IP address that loops back to the device itself.
For local area networks there are 3 groups of private IPv4 address spaces
192.168.0.0 - 192.168.255.255 172.16.0.0 - 172.31.255.255 10.0.0.0 - 10.255.255.255
Basically you can use any address range in any of those 3 ranges, ones in the 192.168.x.y block have been pretty common for home routers for a while.
Normally you can change the address ranges set in the router if there’s a particular range you want to use.
Is that up to them though? Aren’t browsers on iPhones only allowed to be wrappers around the built in safari engine? If that’s still true extensions that interact with the web page it’s self would probably be pretty limited.