TL;DR
- Idea: Decentralized blockchain protocol creating a peer-to-peer market for machine intelligence, enabling contributors to be rewarded based on the informational value of their AI models.
- Catalyst: Recent surge in subnet adoption, high staking rates, and the December 15, 2025 halving reducing daily emissions, improving scarcity dynamics.
- Risks: Complex protocol with potential collusion and centralization risks if large stakeholders coordinate; high technical barriers for new participants.
- Score: 8.00/ 10
Coin
- Name/ Ticker: Bittensor (TAO)
- Segment: DePIN & AI
- Status: Active
- Price: $173.340000
Key Metrics
- Market Cap: $1 854 008 246
- FDV: $3 640 000 000
- Circulating Supply: 10 695 197
- Total Supply: 21 000 000
- Inflation: 13.00%
Sources
Technology
- USP: Peer-to-peer intelligence market with proof-of-intelligence consensus, rewarding AI contributions by informational value.
- Core Technology: Blockchain-based incentivization protocol using peer-ranking, homomorphic encrypted federated learning, decentralized container orchestration, Yuma Consensus, and an oracle network.
Roadmap
- 2025-06-04: Dynamic TAO upgrade enabling subnet tokenization
- 2025-08-15: Launch of 60+ specialized AI subnets
- 2025-12-15: Network halving reducing emissions to 3600 TAO/day
- 2026-02-01: Integration of homomorphic encryption for private inference
- 2026-04-30: Conditional computation module deployment to optimize bandwidth
- 2026-06-01: Cross-chain bridge support for TAO interoperability
- 2026-08-01: Release of distilled model extraction for offline inference
Team & Investors
Team
- Founder & CEO — Yuma Rao: AI researcher with publications in peer-reviewed journals
- Co-founder & CTO — Jacob Steeves: Former software engineer at OpenAI
- Co-founder & Head of Engineering — Ala Shaabana: Blockchain engineer with Polkadot ecosystem contributions
Investors
- Bittensor Accelerator — Accelerator • 2022-06-23
- Digital Currency Group — Strategic Anchor • 2025-10-09 • $10.00M
- TAO Synergies — Private Placement (Series E) • 2025-10-15 • $11.00M
- xTAO — Corporate Acquisition • 2025-07-17 • $10.00M
- Dao5 — Seed
Total funding: $31.00M
Tokenomics
- Utility: Governance, network access, staking rewards and oracle fee accrual.
- Next Unlock: (0.00% of circulating)
Pros & Cons
Strengths
- Decentralized market for AI incentives
- High staking participation reducing liquid supply
- Resistance to collusion up to 50% stake
- Wide ecosystem of specialized AI subnets
- Strong developer community and on-chain metrics
Weaknesses
- Complex protocol with steep learning curve
- High technical barriers to entry
- Potential centralization by large holders
- Limited off-chain consumer adoption
- Emission schedules may lead to sell pressure post-halving
Market Signals (7d)
- TVL trend: increasing
- CEX volume trend: increasing
- Active addresses trend: increasing
Price Scenarios (target: 2026-08-23)
- Bear: $100.000000 — Assumes post-halving sell-off to support levels at historical lows
- Base: $200.000000 — Mean-reversion to pre-halving price levels
- Bull: $400.000000 — Modeling continued subnet growth and AI adoption trends
How to Buy & Store
CEX
- Kraken
- Coinbase
- KuCoin
DEX
- Uniswap V3
- SushiSwap
- SheetSwap
Storage
- Ledger Nano S
- Trezor Model T
- MetaMask
Verdict
Bittensor remains a pioneering DePIN project at the intersection of AI and blockchain, with strong incentives and ecosystem growth, though adoption barriers and centralization risks warrant caution.
Official Links
Source: Coin Research (internal)
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