Quas

It's coming... securityweek.com/quantum-decryp… The million dollar question: When will it be broken?

SN 46 $TAO @resilabsai AMA Summary Nerds hosted @Sebyverse , founder of RESI SN46, and we walked away more bullish than we went in. What became clear during the AMA is that this is not just a real estate data play. The real thesis is much bigger. RESI is building intelligence infrastructure that enables liquidity for on chain real estate. The subnet is the intelligence layer that makes the whole system defensible and ensures all tokenized value is underwritten. The structure is clean and easy to follow: Subnet → appraisal oracle → tokenization framework → lending markets → MBS style vaults That progression matters because each layer strengthens the next. Rather than building around abstractions such as tokenizing an LLC, RESI tokenizes liens directly. Liens are how banks actually secure claims on property in the real world. A property cannot be sold without satisfying outstanding liens first. That means RESI is building around the legal primitive that already matters. According to @Sebyverse , this can reduce tokenization from roughly 2 weeks and $2,000 to about 2 days and $200. That is not a small improvement. That is a structural reduction in friction, time, and cost. The real unlock comes from what sits on top of that system. Once you have verified appraisals, title checks, inspection inputs, and lien status feeding through the subnet, you can start building lending markets directly on top. That is where RESI Finance comes in. The vault model Seby described is essentially a real estate credit product backed by tokenized property liens. Think Maple Finance but for real estate loans. Homeowners can borrow against equity. Liquidity providers can earn yield. Investors can gain exposure to tokenized real estate credit. And here is where it gets interesting for the yield-focused investor: if you own tokens of a property generating 15% yield, you borrow against those tokens at 5%, loop three times, and you are sitting at 45% yield against a 15% cost — backed by a real world asset, not a narrative. Institutions can also buy entire vaults the same way mortgage products are bundled and sold today. The US mortgage-backed securities market is $11 trillion in outstanding debt. That is the addressable market Seby is pointing at. The moat here is the oracle. A lot of people talk about tokenized real estate, but very few are actually solving the hardest part: reliable on chain property intelligence. Without verified property values and lien verification, you do not have a serious lending market. You just have a narrative. RESI is trying to build the missing layer that makes real financial products possible. Seby also laid out a broader flywheel where third party platforms plug into RESI smart contracts, source homeowners and investors, and route activity into the vault system. That means fees can potentially come from multiple directions: borrowing, lending, exchange activity, and platform usage. There are real risks. Lending against real property liens is not a light regulatory exposure — this sits closer to mortgage lending than it does to crypto, and that distinction matters legally depending on jurisdiction and how the product scales. Execution risk is real. Launch timelines are ambitious. But the architecture itself feels coherent in a way most subnet pitches simply do not. This is one of the few subnets where the product and the subnet actually need each other. The intelligence layer is not optional. It is the foundation. That is why we walked away more bullish. June is the target. If they hit it, RESI Finance stops being a subnet story and starts being a DeFi story. Those are different audiences, different capital, and a very different ceiling.

On the @theallinpod this week, @chamath asked @nvidia CEO Jensen Huang about decentralized AI training, calling our Covenant-72B run "a pretty crazy technical accomplishment." One correction: it's 72 billion parameters, not four. Trained permissionlessly across 70+ contributors on commodity internet. The largest model ever pre-trained on fully decentralized infrastructure. Jensen's answer is worth hearing too.

x.com/i/article/2032…

Watching the @bittensor documentary right now Holy sh*t this is so much bigger than I thought TAO is the next Bitcoin