Crypτachi Uchiha 🔺

Yonatan Sompolinsky has just set a clear deadline. Kaspa is expected to launch OP_CAT++ by mid-June true, programmable covenants directly on the UTXO basis at full BlockDAG speed. That would be a technical quantum leap. While Bitcoin has been stalling the covenant debate for years, Kaspa, as the first scalable L1, could enable true programmable digital assets and thus attract precisely the institutional assets Grayscale is currently discussing. Anyone who views KAS as merely a means of payment is missing the actual shift: from a fast currency to the first practical, decentralized asset platform.

Covenant decided to leave the TAO ecosystem, taking 8 figs in capital with them The biggest friction point to adoption here is the misalignment in subnet and network interest Very few institutions will deploy serious capital until a tangible solution is in place Here are 10 suggestions that could alleviate this problem: 1. Lock-based subnet ownership as const suggests Founders lock their tokens over multi-year schedules visible on chain. If you believe in what you're building this shouldn't be a problem. Investors get advance warning of any unlock and can reprice accordingly 2. Protocol-level IP retention. If a model is trained using Bittensor emissions and network compute the weights and outputs should be retained by the network Covenant trained a 72B param model on Bittensor resources and took it with them. That shouldn't be possible perhaps can simply be replicated by another subnet, or the same subnet taken over by someone else? 3. On chain revenue sharing Subnets generating revenue from their products should have a percentage AUTOMATICALLY flowing back to alpha holders and TAO stakers Rayon Labs already does something like this with their auto-staking buyback on SN64 (Chutes) with their inference revenue; It should be standard not optional 4. Headless subnet architecture. Remove the dependency on a single founding team entirely The subnet operates as a protocol-level commodity where anyone can contribute compute and development. No one person or team can pull the plug 5. Vesting schedules on founder emission allocation Founders shouldn't be able to sell emissions as they receive them. Vest over 12-24 months minimum so there's a structural commitment to building long term rather than farming and leaving This is somewhat entrenched with dTAO but there are loopholes to this, especially in a bull market 6. Subnet governance minimums Require subnets above a certain market cap or emission share to have multi-sig control, public roadmaps, and regular reporting to stakers Treat it like a public company once you're managing other people's capital 7. Exit penalties or cooldown periods If a founding team wants to exit they face a cooldown where their locked tokens are gradually released rather than dumped. This gives stakers time to reprice and exit before the team does 8. Insurance or protection pools funded by a small percentage of subnet emissions that pay out to alpha holders if a founding team exits or the subnet goes dark. Spreads the risk across the network 9. Portable subnet infrastructure Build the protocol so that if a team leaves the compute layer, model weights, and validation logic remain functional and can be picked up by another team or run autonomously. The subnet survives the founder 10. Reputation and track record scoring on chain Founders who have successfully run subnets long term and honoured their commitments get visible credibility scores. New subnet launches from unproven teams get flagged so stakers know the risk profile before they buy in. None of these are silver bullets on their own but stacking several of them together would go a long way toward making subnet alpha tokens actually investable and keeping value accruing to TAO rather than leaking out every time a team decides to leave I've seen my fair share of fraud in listed organisations as an auditor to know the problem comes from human error, be it "intentional" or otherwise Code is law; "trust me bro" back of the napkin handshakes won't cut it anymore Follow @TAOInstitute_ - the framework we are building will contribute to the gaps identified

Looks like the bottom has been in for a couple weeks. My last big $KAS buy for the time being. I have surpassed my $KASPA goals a while back, but with this price we can't go wrong. Keep stacking if you can. The future looks bright!

If you're selling $TAO here, I don't know what to tell you. This will blow over faster than most think. Subnet 3 is still a thing, only the team's getting replaced (and who wants a team that can rug anyways?) Alpha holders have not lost a single token. Onwards🤝 $TAO #SN3

$tao price will recover faster then you think

Other subnets should take note: "chutes team operates as a group of independent corporations with no CEO, and our funds are locked into a smart contract which pays our staking rewards to fund the team members." $TAO 👇🏾

It's going to be pretty funny in a few months when Templar is still running, and Const just slotted a new team who will likely be 10x more qualified than Sam Dare

I hope this becomes a reality.

JUST IN: Grayscale followed Kaspa founder Yonatan Sompolinsky.

@Grayscale @realvijayk arigato gozaimasu! if Kaspa army showed up here, think how they'll show up when you provide a KAS digital asset.. by mid june Kaspa OP_CAT++ Bitcoin. worth the attention _/\_

Bittensor $TAO will be just fine The ecosystem and community is better off without short-sighted bad actors who are just in it for a quick payday Buying opportunity for TAO and buying opportunity for quality subnets Or just sit on your hands and chill

it’s very important that you have a phase in your life where you risk all of your finances on a single, very large bet

Great article to read if you have a $KAS bag or are thinking about getting one ↓ It covers all the fundamental changes that the Toccata Hard Fork will bring to @kaspaunchained Good devving here 💪

Covenant leaving doesn’t weaken @bittensor, it demonstrates exactly why the network matters. Bittensor isn’t any single team or subnet. It’s an open system. The code is public, the incentives are aligned, and the work continues; with or without any one group. Within hours, the project was already moving forward. That’s resiliency. That’s antifragility. Covenant is one subnet. There are 100+ others building, experimenting, and pushing the network forward. More will break out. That’s the design. Zoom out. The signal here isn’t disruption, it’s proof. Keep building.

Those who faded $TAO at $145 coping hard over a -10% correction after over a 2x 😭🤣🤡

Hate to tell you $TAO brothers and sisters but we’ve seen it before and we will see it again. Bittensor is made of real things and real things do crazy shit sometimes

there is no way to slow down bittensor. Anyone who leaves will be replaced and something better will emerge. It’s how it’s always been.

This is why I aped into $KAS Below is the smartest tweet from a Bitcoiner I’ve seen…

It's a shame how greed and ego can overcome a man. To help prevent this sitation from happening again, here's what we are doing with @lium_io sn51. In bittensor, the owner receives ~18% of the inflation for a subnet. On sn51, we have used this allocation to accumulate a sizable portion of our token supply. We feel that our position is now sufficient to keep us aligned while not being too much so that our token distribution is unhealthy or that we own too much of the supply. As we can see, this creates a risk for the token holders. In order to mitigate that risk, we actively do a couple things. 1. When we buyback our tokens with our revenue, we immediately burn those tokens. This means the revenue is just used to support the sustainable tokenomics and alpha price without becoming potential future sell pressure as a byproduct. 2. We do daily burns of most of our owner cut which amounts to 15-20 thousand USD that otherwise would be going to us and could be used to dump on our holders as happened with @covenant_ai. We need to move away from alpha holders having to trust the owners not to rug and move towards a more trustless system. We have burned ~$100,000 worth of tokens in the last 6 days. Also shoutout to @chutes_ai for both burning their buybacks and locking their owner cut. I hope more subnets move to either start burning excess owner tokens, locking them to be unsellable, and buying and burning revenue. We strive to keep a balance of alignment, healthy token distribution, and sustainability. At bittensor, we always grow stronger and more resiliant from events like this. This is an important transition.

Exploits are what teach a system its weak spots. The quicker you find them the faster you learn. The outcome of this eventful evening is that Bittensor will invent lock-based subnet ownership -- specifically: ownership of a subnet determined by a team's long term economic commitment to the project. This will mean: 1) investors see long in advance if an owner has unlocked their tokens, 2) be able to reprice the subnet before the owner and 3) liquidly direct their own conviction to another team, or agent, to manage the system. Thank you @DistStateAndMe for helping further Bittensor's decentralization and develop a solution to one of cryptos oldest problems: founders who rug their token holders. Looking forward to training some 1T param models with the miners who are experts in this unique field. "What is dead can never die"