rayne wooney - i‘m into crypto

BREAKING: @const_reborn shares that miners can help get SN3 back into the right hands "Templar" has not rugged, it is still at a $40M marketcap The tech is still there, the team is still there, Sam just isn't. There are active efforts to re-gain control of SN3 PSA: IF YOU ARE A MINER OF SN3 OR KNOW SOMEONE THAT IS A MINER, PLEASE SEND THEM THIS POST & REACH OUT TO CONST

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Jon Durbin is a core contributor to Chutes, the biggest AI subnet on Bittensor 72 hours after Covenant AI rage-quit the network, I got him on record. What he said about governance, revenue, and why he's not leaving shocked me. @chutes_ai is Subnet 64 on Bittensor. Largest AI subnet in the entire TAO ecosystem. Over 1 trillion requests per month. And they're run by six separate contractor companies with no CEO. Here's what @jon_durbin walked me through. On the Covenant AI exit: - Sam Dare's departure sent a shockwave through the network - Jon saw zero warning signs ("I did not see this coming") - Wouldn't comment on whether Sam rugged or panicked - Said the real lesson is putting guardrails on yourself so you CAN'T rug in a moment of weakness How Chutes made itself "unruggable": - All owner emissions go into a smart contract vault - Audited by Trust Security - The contract pays out staking rewards to six subcontractor companies - The principal can never decrease - Jon can't control it. Nobody can. Then the revenue numbers. Chutes is at 0% TAO emissions right now. They're running on alpha token emissions plus real revenue. - Daily revenue climbed from under $10K to a peak of $22K - Cut GPU inventory from 1,700 H200s down to 700 - Made MORE money with half the hardware - They're 2/3 of the way to fully offsetting costs On subscription abuse that forced the pivot: Some users on $20/month plans were burning $6,400 in inference. Businesses signing up with prepaid cards. Spamming accounts. Fraud on Stripe. Chutes capped the subscriptions. Killed the free tier. Moved TEE-only on OpenRouter. That's when revenue actually started working. The bomb he dropped at the end: - New algorithm for training "arbitrarily large" models on Bittensor - Targeting dropping in the next week or two - Positioning to go beyond what Templar did with dense 72B models - Jon: "to actually compete, like if you look at xAI, they're training 10 trillion parameter models now... we need to sort of cross that chasm... I think there's a way to do it" And on why he won't leave for a Web2 payday: Chutes is a DePIN. That gives us SEC protections and permissionlessness. Jon's stance: AI is becoming as critical as a calculator. Someone has to make sure the whole world has access. The strongest subnet on Bittensor is not just surviving the Covenant fallout. It's accelerating. Full episode ⬇️

Jon Durbin is a core contributor to Chutes, the biggest AI subnet on Bittensor 72 hours after Covenant AI rage-quit the network, I got him on record. What he said about governance, revenue, and why he's not leaving shocked me. @chutes_ai is Subnet 64 on Bittensor. Largest AI subnet in the entire TAO ecosystem. Over 1 trillion requests per month. And they're run by six separate contractor companies with no CEO. Here's what @jon_durbin walked me through. On the Covenant AI exit: - Sam Dare's departure sent a shockwave through the network - Jon saw zero warning signs ("I did not see this coming") - Wouldn't comment on whether Sam rugged or panicked - Said the real lesson is putting guardrails on yourself so you CAN'T rug in a moment of weakness How Chutes made itself "unruggable": - All owner emissions go into a smart contract vault - Audited by Trust Security - The contract pays out staking rewards to six subcontractor companies - The principal can never decrease - Jon can't control it. Nobody can. Then the revenue numbers. Chutes is at 0% TAO emissions right now. They're running on alpha token emissions plus real revenue. - Daily revenue climbed from under $10K to a peak of $22K - Cut GPU inventory from 1,700 H200s down to 700 - Made MORE money with half the hardware - They're 2/3 of the way to fully offsetting costs On subscription abuse that forced the pivot: Some users on $20/month plans were burning $6,400 in inference. Businesses signing up with prepaid cards. Spamming accounts. Fraud on Stripe. Chutes capped the subscriptions. Killed the free tier. Moved TEE-only on OpenRouter. That's when revenue actually started working. The bomb he dropped at the end: - New algorithm for training "arbitrarily large" models on Bittensor - Targeting dropping in the next week or two - Positioning to go beyond what Templar did with dense 72B models - Jon: "to actually compete, like if you look at xAI, they're training 10 trillion parameter models now... we need to sort of cross that chasm... I think there's a way to do it" And on why he won't leave for a Web2 payday: Chutes is a DePIN. That gives us SEC protections and permissionlessness. Jon's stance: AI is becoming as critical as a calculator. Someone has to make sure the whole world has access. The strongest subnet on Bittensor is not just surviving the Covenant fallout. It's accelerating. Full episode ⬇️

x.com/i/article/2043…

x.com/i/article/2043…