Bittensor (TAO)

🚨 $TAO just got its first institutional-grade State of the Network report and most people scrolling have no idea. It came from @YumaGroup, led by @BarrySilbert. The same Barry Silbert who founded Digital Currency Group, the firm behind Grayscale, CoinDesk, and Genesis. The man who helped build the institutional rails that took Bitcoin from a cypherpunk experiment to a trillion-dollar asset class. He didn't just invest in crypto. He built the rails that made institutional crypto possible. And the report itself? It's a data-backed snapshot of exactly where the ecosystem stands right now. A must read. Yuma is one of the largest validators on the network. They’ve partnered with 12 exchanges, custodians, and wallets, opening $TAO staking access to 142M+ retail users and 7,000+ institutions. They also launched: • The Subnet Composite Fund • The Large Cap Subnet Fund • The Yuma Composite Index (YCX) the first benchmark for the subnet economy This is institutional infrastructure forming around decentralized AI. Subnets are already shipping real products: Score (SN44) @webuildscore Processes full football matches in minutes with 94% accuracy. Already deployed with clubs and enterprises. Ridges (SN62) @ridges_ai Open-source AI coding agents matching SOTA benchmarks at 70x lower cost. Yanez (SN54) @yanez__ai Financial crime detection working with multi-billion dollar clients at 10% of traditional consulting costs. Targon (SN4) @TargonCompute Confidential cloud compute with 1,600 H200 GPUs, rented for $2/hr. They are enterprise deployments. Meanwhile the subnet economy is growing fast. Aggregate subnet market cap has reached 27% of $TAO’s market cap, up from near zero when dTAO launched. Value is also spreading across the ecosystem. The top 20% of subnets now represent 55.9% of total subnet value, down from 82.4% previously. Translation: the ecosystem is maturing. Value is no longer concentrated in a handful of early movers. It's spreading across the network as more subnets ship real products. Then there is the halving dynamic. On Dec 15, 2025, $TAO completed its first halving, cutting emissions from 7,200 TAO/day to 3,600. Bitcoin uses emissions to secure a ledger. Bittensor uses emissions to build intelligence. • Training models • Running inference • Drug discovery • Financial prediction • AI infrastructure Same mechanism. Completely different output. Another interesting signal: Subnet token staking yields are dramatically higher. Some subnets produce 100%+ APY, with a blended ecosystem yield around 50%, compared to roughly 6% for $TAO staking today. And the protocol itself is supporting subnet markets. Since the halving, subnet liquidity pools added 196k $TAO, while the chain has been buying roughly 800–900 $TAO/day of subnet tokens through emissions recycling. Mechanism design supporting the subnet economy. Institutional infrastructure: • 142M+ retail users with staking • 7,000+ institutional clients • Two subnet investment funds • Benchmark index entire ecosystem The report also recaps major protocol developments: • TAO Flow shifted emission allocation from price-based to flow-based. • MEV Shield encrypted transaction protection, currently optional. • First Halving December 15, 2025. Half the 21M max supply now circulating. • Proof of Stake transition moving from Proof of Authority to Nominated Proof of Stake. • Governance update introducing a representative model. This is exactly the type of infrastructure that formed around Bitcoin in the early 2010s. If you don't hold $TAO and you're trying to understand why people are so convicted, this is the data. Barry Silbert didn’t build the institutional rails for Bitcoin by accident. He saw the shift early. Now he’s doing the same thing for decentralized intelligence. The internet of information had websites. The internet of intelligence has subnets. Full report is on @YumaGroup’s profile. $TAO

Setting some bids on $TAO which we spoke about on stream. 180.05-177. Risking 2% if fully filled. Collab with @BryceTheTrader @DietaFlex https://t.co/fhP6QclaIk

Bittensor $TAO had its first halving in December. Same issuance trajectory as Bitcoin, but $TAO reached its first halving at a higher price. Full analysis in the second volume of our State of Bittensor report: https://t.co/gTjod9KeQg https://t.co/Z9eTcO81x4

Imagine Bittensor $TAO catches up with Bitcoin's $100 price 6 months after halving and then follows it's PA for the next 10 years. No real benefit for being early in 2023... In fact, I bought $TAO in early 2023 for 0.0024 BTC/TAO, the price is now 0.0026 BTC. Flat returns on my BTC for 3 years.

BitTensor / $TAO I think Jevons paradox perfectly explains why @vidaio_ TAM is basically unlimited. When you make a resource cheaper and easier to use, people don’t use less of it. They use more. Total consumption goes up. Everyone looks at compression and thinks “cost savings.” But the real effect is expansion. If @vidaio_ makes storage, bandwidth, and processing meaningfully cheaper, the world doesn’t say “great, let’s use less video.” The world says “great, let’s do way more video.” More cameras, more hours recorded, more multi camera setups. Higher frame rates. Higher resolution by default. Longer retention. More footage reviewed. More AI run on top of it. Faster training loops. Then the second order effect hits. Industries that couldn’t afford heavy video pipelines suddenly can: surveillance, medical imaging, industrial inspection, robotics, autonomous fleets, enterprise comms, education. The cost curve drops and whole new markets turn on. So Vidaio isn’t just fighting for a slice of today’s video spend. It’s positioned to ride the next wave of video growth that gets unlocked precisely because processing becomes cheaper. If @vidaio_τ executes, the savings are very real. But the bigger story is that it makes video even more ubiquitous. That’s why the TAM here can feel effectively unlimited.