0xPrismatic

This is quite cool: SpaceX mirror token.
Questions in my mind are:
- how much liquidity will there be
- what legal claims will token holders have

Decentralized training in practice:

Compute, data, and validation are all done by separate actors, each earning tokens or micropayments.

Correctness is often enforced through some form of cryptoeconomics: cheat, and you get slashed. Play fair, and you get paid.

Open weights ≠ open systems.

Most “free” AI models today were trained by large AI research labs with strategic reasons to release them.

But what happens when that stops?

Tokenized AI may be the way out. 🧵

Would be very interesting to see where today’s decentralized compute networks land on this AI supercomputer performance chart.

h/t @EpochAIResearch

You can solve coordination.
You can solve verification.
You can even make it fast.

But without incentives, decentralized training doesn’t work. Why would anyone burn compute for free?

Let’s talk about why incentive design is the final boss. 🧵

if you're building with crypto-native users as your primary market, it’s going to be tough to find sustained demand

to me, the most interesting startups have products already geared towards infinite markets (AI, robotics etc)

Twelve months ago, we didn’t have “Nasdaq companies aping into TAO” on the bingo card.

But here we are.

- Synaptogenix (SNPX) did a MicroStrategy-style bet on Bittensor stock jumped 40% after it announced a $10M TAO buy (2x its own market cap). They’re aiming for $100M.

James Altucher is leading it. $5.5M personal stake. They're releasing preferred shares and TAO-linked warrants. And a full rebrand incoming.

- Oblong (OBLG) is next. $7.5M raise to accumulate TAO and back Subnet 0. The stock popped after the announcement.

The thesis for these companies is simple: TAO is scarce, programmable, and productive. It’s the native asset of decentralized intelligence.

This won’t be the last. We’re watching the start of a public market land grab for crypto AI infrastructure.

We made it. One full year of @cot_research!

Since the 1st edition of our AI & Crypto newsletter was published on 11 June 2024, we’ve been breaking down the madness so you don’t have to live inside Arxiv or scroll Twitter/X until your eyes bleed.

This is the biggest tech shift of our lifetime. It’s chaotic, it’s fast, and if you’re not neck-deep in it, it’s easy to miss what’s really happening.

So, a big thank you for riding with us. Year two starts now. 🫡

Another @cot_research drop will be landing in your inboxes in a few hours.

It's a thought piece by @ChappieOnChain.

Take a guess: what rabbit hole are we going down this time?

(link in bio)

Weekly AI Edge #51 is out! Read this, then get back to enjoying summer:

🌈 Project Updates
= @NillionNetwork's new Enterprise Cluster is live, with Vodafone, Deutsche Telekom, Alibaba Cloud, and stc Bahrain, aiming for a privacy-native internet.
= @TRNR_Nasdaq, listed on NASDAQ, is raising $500M to build the biggest AI-token treasury on a US exchange, backed by ATW and DWF Labs.
= @USDai_Official entered private beta with $10M in deposits for a yield model tied to tokenized Treasuries and AI assets.
= @PondGNN launched AI Studio and Pond Markets to help AI projects grow and fund.
= @Worldcoin launched native USDC and CCTP V2 on World Chain, enhancing transfers for 27M users.
= @peaq and Pulsar launched a Machine Economy Free Zone in the UAE for AI-powered machine pilots.
= @thedkingdao is deploying $300M with a sports-betting hedge fund via an on-chain DeFAI system.
= @CrucibleLabs launched Smart Allocator to auto-stake TAO into top subnets.
= @hyperlane introduced TaoFi's Solana-to-Bittensor USDC bridge, unlocking DeFi access for Solana, Base, and Ethereum.

🌴 AI Agents
= @Virtuals_io released I.R.I.S., a Virtuals Genesis AI agent on Ethereum, for contract security alerts.
= @TheoriqAI launched Theo Roo, an AI strategist for real-time on-chain efficiency.
= @AlloraNetwork started a six-week Agent Accelerator with $ALLO grants for top agents.
= @Gizatechxyz's Arma now integrates into Rainbow Wallet for yield tracking.
= @Chain_GPT launched AgenticOS, an open-source AI for posting crypto insights using on-chain data.

🐼 Web2 AI
= @MistralAI released Magistral, a multilingual model for domain-specific tasks.
= @xAI and Polymarket are partnering to integrate Grok’s AI with prediction markets.
= @OpenAI launched o3-pro, the new ChatGPT Pro model, with enhanced features.
= @Yutori released Scouts, AI agents for personalized internet alerts; beta at https://t.co/gxJvB6iC7h.
= @Krea entered image modeling with Krea 1 in private beta, offering artist-grade output.

+ much more alpha in the full newsletter @cot_research (link in bio)

h/t @issyadelaja

New research essay dropping on Wednesday at @cot_research

This time, we’re not just unpacking how the protocol works. We’re exploring if it’s investable.

As usual, subscribers get 1st look. (link in bio)

planning a token launch? Pivot to an IPO instead.

you can still rewrite that investor deck tonight before sending.

We believe Bittensor is the most compelling place to witness Crypto x AI unfold.

Here are some lessons we learned from talking to teams and watching subnets in the wild: 🧵

Bittensor now has over 110 subnets—and counting

Here are 12 Bittensor subnets that have stood out to us, and we're keeping on our watchlist👇

Tocmai am lansat o analiză detaliată asupra instruirii descentralizate. Acoperim multe acolo, dar o scurtă expunere a gândurilor mele în timp ce sunt proaspete:

Atât de multe s-au întâmplat în ultimele 3 luni și este greu să nu te entuziasmezi
- @NousResearch a pre-antrenat un model de 15B într-un mod distribuit și acum antrenează un model de 40B.

- @PrimeIntellect a ajustat un model de bază Qwen de 32B pe o rețea distribuită, depășind baza Qwen pe matematică și cod.

- @tplr_ai a antrenat un model de 1.2B de la zero folosind recompense cu tokenuri. Curbele de pierdere timpurii au depășit rulările centralizate.

- @PluralisHQ a arătat că instruirea paralelă a modelului cu lățimi de bandă scăzute este de fapt destul de fezabilă... ceva ce majoritatea au considerat imposibil

- @MacrocosmosAI lansează un nou cadru cu paralelism de date + pipeline + design de stimulente și începe să antreneze un model de 15B

Cele mai multe echipe astăzi își cresc capacitatea la ~40B de parametri, un nivel care pare să marcheze limita practică a paralelismului de date în rețelele deschise. Dincolo de asta, cerințele hardware devin atât de abrupte încât participarea este limitată la doar câțiva actori bine echipați.

Scalarea către modele de 100B sau 1T+ parametri va depinde probabil de paralelismul modelului, ceea ce vine cu provocări de un ordin de magnitudine mai dificile (gestionarea activărilor, nu doar a gradientelor)

Instruirea cu adevărat descentralizată nu înseamnă doar instruirea AI-ului pe clustere distribuite. Înseamnă instruirea între părți neîncrezătoare. Acolo devin lucrurile complicate.

Chiar dacă reușești să rezolvi coordonarea, verificarea și performanța, nimic din toate acestea nu funcționează fără participare. Calculul nu este gratuit. Oamenii nu vor contribui fără stimulente puternice.

Proiectarea acestor stimulente este o problemă dificilă: multe probleme complicate în jurul tokenomicii despre care voi discuta mai târziu.

Pentru ca instruirea descentralizată să conteze, trebuie să demonstreze că poate antrena modele mai ieftin,
mai repede,
și mai adaptabil.

Instruirea descentralizată poate rămâne de nișă pentru o vreme. Dar când dinamica costurilor se schimbă, ceea ce părea experimental poate deveni rapid noul standard.

Privesc îndeaproape acest lucru.

Am monitorizat metricile Bittensor care contează (h/t @taoapp_)

Datele spun o poveste pe care majoritatea oamenilor nu au prins-o încă... 👇

Rețelele de calcul descentralizate (DCN) oferă GPU-uri ieftine.

Dar întreprinderile nu le folosesc (în mare parte).

DE CE? DE CE? A 🧵

This was a great read and added perspective on valuing Bittensor subnet tokens @UnsupervisedCap @Old_Samster

"With a 2-year hold, the discount approaches ~75%"

Din cel mai recent raport Bittensor @cot_research :

Estimăm că >468 milioane de dolari de capital se vor muta în piețele de tokeni alpha până în decembrie 2025, extrapolând tendințele actuale.

Primele 10 subrețele Bittensor (din peste 100) primesc >55% din totalul emisiilor

Doar 4 subrețele primesc >5% din emisiile:
- @chutes_ai
- @taohash
- @gradients_ai
- Targon.