TL;DR
- Idea: A decentralized blockchain-based AI network incentivizing machine intelligence contributions via TAO tokens
- Catalyst: Recent listing on Bitkub and ongoing network upgrades enhancing emissions and consensus mechanics
- Risks: High valuation, regulatory uncertainty, complex emission schedule, and reliance on continued network participation
- Score: 8.00/ 10
Coin
- Name/ Ticker: Bittensor (TAO)
- Segment: AI-infrastructure
- Status: active
- Price: $286.680000
Key Metrics
- Market Cap: $2 757 258 204
- FDV: $6 033 079 091
- Circulating Supply: 9 597 491
- Total Supply: 21 000 000
Sources
Technology
- USP: Decentralized marketplace for AI model training and inference with economic incentives for contributions
- Core Technology: Subtensor Layer-1 blockchain with Yuma consensus protocol driving dynamic TAO emissions and subnet token integration
Roadmap
- 2025-11-05: Subtensor v3.2.11-338 mainnet upgrade completed
- 2026-01-15: Deploy root claim update for user-controlled reward realization
- 2026-06-30: Expressive TAO (eTAO) release enabling granular emissions per subnet
Team & Investors
Team
- Founder — Yuma Rao: Decentralized AI researcher and protocol architect
- Co-Founder & Protocol Architect — Jacob Robert Steeves: Former Google Brain AI engineer and neuromemristive systems researcher
- Co-Founder & Research Scientist — Ala Shaabana: Ex-Postdoctoral Fellow at University of Waterloo and Assistant Professor at University of Toronto
Investors
- Polychain Capital — incubator • 2019-01-01 • $200.00M
- Dao5 — early investor • 2025-05-01 • $50.00M
- xTAO — public listing financing • 2025-07-22 • $22.80M
- TAO Synergies — Series E • 2025-10-14 • $11.00M
- DSV Fund — seed • 2025-05-19 • $0.10M
Total funding: $283.90M
Tokenomics
- Utility: Staking, governance voting, network registration, and payment for AI services
- Vesting: No pre-mined allocations; tokens are emitted through network participation
- Next Unlock: (0.00% of circulating)
Pros & Cons
Strengths
- Decentralized open-source AI marketplace
- No pre-mined tokens; fair emission via participation
- Strong VC backing and strategic partnerships
- Dynamic emission model aligning incentives
- Robust developer activity and GitHub contributions
Weaknesses
- Very high market valuation and FDV
- Complex emission and consensus mechanisms
- Limited mainstream adoption outside AI niche
- Regulatory uncertainty around AI tokens
- Network reliance on sustained participant growth
Market Signals (7d)
- TVL trend: n/a
- CEX volume trend: up
- Active addresses trend: up
Price Scenarios (target: 2026-06-04)
- Bear: $150.000000 — Assumes network growth stalls and market multiples compress by 50%
- Base: $300.000000 — Projects maintaining current network activity and multiples
- Bull: $500.000000 — Models increased AI adoption and premium valuation similar to growth peers
How to Buy & Store
CEX
- Kraken
- Coinbase
- KuCoin
- Bitkub
- Gate.io
DEX
- Uniswap
- SushiSwap
- PancakeSwap
- TaoBridge
- DODO
Storage
- Ledger
- Trezor
- MetaMask
- SubWallet
- Trust Wallet
Verdict
Bittensor presents a unique decentralized AI infrastructure opportunity with solid tech and investor backing, though valuation and complexity pose notable risks.
Official Links
Source: Coin Research (internal)
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