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💥 One Of Michelles Most Powerful Messages From Spirit 💥
December 18, 2022
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(Dinarian Note: This message from December 2021, is one of spirits most powerful messages. I feel compelled to post this so you can read this closely as it is more important today than it was back then, especially pertaining to both crypto and the extremely POWERFUL Metatron prayer.)

A MEMO FROM SPIRIT - IT HAS BEGUN Predictions from Michelle Whitedove — Michelle Whitedove

Spirit is reminding us, this is a great revolution, and it has begun.  It’s not just on one side of the pond or the other. This is a worldwide revolution coming from the people saying “No, you are not in charge of my body, my freedoms, my speech and my personal rights.”  In the USA they are saying “You're breaking the constitution and our God-given human rights” as stated in this excerpt of our Constitution;  

“We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness.--That to secure these rights, Governments are instituted among Men, deriving their just powers from the consent of the governed, -- That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government… 

and that as Free and Independent States, they have full Power to levy War, conclude Peace, contract Alliances, establish Commerce, and to do all other Acts and Things which Independent States may of right do. And for the support of this Declaration, with a firm reliance on the protection of divine Providence, we mutually pledge to each other our Lives, our Fortunes and our sacred Honor.” 

Powerful and inspirational right?

Now where global politics are concerned, you have the right hand and the left hand:

the opposing sides and they don't know what the opposition is planning and so they can't agree on anything because there is much chaos and corruption among them. But both sides they think they're untouchable. They think no one would ever dare go to their government headquarters or to their homes. But it’s happening and the mass numbers will increase with grand protests. They will march into Washington DC too. Well, the government better think again, because my vision shows me the Statue of Liberty on the ground. My vision shows me that New York City and all its people will come out in protest. The Government doesn’t have enough weapons, not enough equipment, not enough of military personnel; Marines, Navy seals, Army  to go against the 331 Million people of America!

All of the countries around the globe  - those military armies, whether they're on land, at sea, at war, wherever they may be; they, themselves are not prepared for a world revolution. This is beyond rioting, theft and dangerous neighborhoods of No Go Zones that police don't come to, and paramedics wont visit. We're talking about how it really is in the world, how the citizens are locked down in their house, and they can't go get medical treatments, some help and things they need.  Right now it has started, countries are segregating the human population based solely on their vaccination status. YES it is happening!!  Don’t think it won’t come to your neighborhood, because that is the master plan.

For us here in the USA we don’t see it on the Corporate News Channels that’s sponsored by the Big Drug Companies.  Around the globe the governments don’t want you to know the truth of the lock downs and the huge protests - It is hidden from us, you can’t even google it because the censorship is so prevalent. Unless you are there in the middle of a communist take-over you may not realize the big picture – but you can find the videos on alternative platforms.  They are using FEAR, over-reaction and segregation to manipulate the population to bend our WILL to the Communist One World agenda. Don’t be deceived.

Do you know what is happening in Australia, New Zealand, Hungary, Canada, Austria, Germany, Italy … and other countries? Find out, do your research, be appalled and speak up because they are coming to your State too!   Look for the protest VIDEOS on alternative platforms such as Rumble, Telegram, LiveWire, Brighteon.com

Today it’s important to have to have a plan A, B, C  and plan D is never good, people need to think out of their box, their bubble, because everything is in flux and plans are ever shifting. Most organized religions - church and state are one and the same, driven by money. Just know that your spirituality is separate from dogmatic religion.

MONEY MARKETS and CRYPTOS
Use your God given resources and abilities to influence the markets. It’s vitally important for the crypto users and believers to blend their spirituality with their mindset to help their cryptocurrency investments succeed because through God, through the grace of God anything's possible.  Yes, God gave us theta; you were prompted to buy it right? Spirit gave you Theta and Persistence too.  We were given Theta and Persistence so that We The People would have a financial cushion during these uncertain times and these projects are good for humanity also.

Don’t react out of FEAR or FOMO.  You have to know when the hold, fold, walk away. Stick with your crypto plan so that you don’t react out of emotions.  Yes, we had this mini crash or dip but don’t sell now! Hold on, be strong. be patient. Have faith. Have trust in God. Pray and Meditate because you will be in tune with your higher consciousness – the part of us that is always connected to Spirit. Do these things daily because It raises your vibration meaning it raises your Spirit. Give thanks, and count your blessings!! Do this with your bank accounts too! Abundance is yours!

Anyone that you get around that doesn't have a vibration like yours, you will want to move away from that person and their negativity. Chaos within the home is not good.  Go with your instincts. Go within. This is the time. In your darkest hour, know that you are never alone, know that you are closer to God than you've ever been. For God is giving you everything that you need within you, outside you, everything mentally, emotionally, spiritually, physically. Stay centered – stay prayerful, gather your loved ones to pray and encourage meditation. Households in-tune and like-minded will give you a loving peaceful environment in which to thrive and grow.


SPIRIT SAYS
This is a state of emergency; a worldwide 9-1-1 and it does not just affect this world, it affects worlds within worlds. We have globalists with an agenda taking advantage of this so-called medical induced “shutdown" with a secondary plan “Let's restart civilization”, lets Build It Back Better – which is a cloaked scheme for world-wide government control.   When these leaders, decided to be vague and spoon feed the plan to the citizens and to the people, the good people of the world have no clue of exactly what that means.  Even they themselves, the Shadow Global Government, does not know what they're going to do next because they are too are fearful of the people globally and those that have rights to carry arms. They know us, especially us that are independent thinkers – critical thinkers that know our RIGHTS, we're not just going to take this and we're not going to roll over. We're not just going to give everything we've done our whole life and say, "Here you go." The WEF [World Economic Forum] has announced their motto for the global future “You will own nothing and you will be Happy”. Of course that will only apply to the citizens [not to the elite] but We The People will not give up, we will not reward their glee, gluttony, and greed. Enough is enough.

Humanitarians, it is time to put your hand out to your fellow man. We are all this in this together. It's full circle, baby and the world is not that big of a place. Right now it's upside down and it's spinning in the wrong direction. And if there's ever a time in the world that we need God and we need mercy - it's now.  So good people, reach out to help those in need. Speak up and educate others. Do what you can, but step outside of your comfort zone – for this is where personal growth happens.
If there's ever time to pray for the world, Pray for your loved ones, Pray for your country and meditate – NOW is the time. You don't have to go to a church or temple. You don't have to utilize these dogmatic manmade systems of different religions. All you have to do is come from your heart, speak to Spirit just like you would a loving parent.  Turn your problems over to God, for Spirit has solutions greater than you can imagine [although Never tell Spirit HOW TO fix your problems].  Shield yourself up in prayer daily – it makes a huge difference my friends.  The Metatron Prayer is a powerful 3-D prayer of protection and abundance that I hope you utilize.  The spiritual practice of prayer, visualization and faith in action help you to create positive results in your life. Within a blink of any eye you can manifest your dreams that fast. And in this time, with the veil thin between Heaven and Earth: live a wholesome life with good intentions, by your thoughts, by your good deeds and know that what you visualize, you can materialize.

With that said, the same goes for your negative thought patterns. Just like a hypochondriac can manifest sickness … you can bring your greatest fears to life. So do NOT focus on fears. Focus on positive solutions. Because the more you fear something then you bring that to you. Spirit says, focusing on your fears is like praying for the negative to happen. The more that you wish and pray for something good with good intentions. Make a plan, and then you finally get off your butt and you take action steps to make it happen; we are co-creators of our reality and can bring dreams to fruition.

You know, I can't stand to see anything hurt, much less babies, puppies, children and innocent women, good men, whales, dolphin, call it what you want - All life, all of God's wondrous souls that he created. He created with reason, purpose, balance and perfection. We are children of God, please, for the love of God, wake up. Stand up

Stand up united, we stand united or separate we fall. Please stand up for your rights. Stand up for yourself. Stand up for your family. Stand up for your children, your grandchildren and their future.  Warning, if you do not stand up now, there is no future that is acceptable, for I “SEE” three probable futures. We all have to do this. We are not alone in this. We are together. Please, I ask of all of you.  Do Not Comply with Passports, they are the end of freedoms. When you need travel papers within your city – then you are no longer free!  Get the shot or don't get the shot, that's your personal choice, but do not go along with these forced mandates. Know that this is a slippery slope to forced shots for EVERYTHING! Do you want a mandated shot 1,2,3,4,5,6 ?  When you decide that you’ve had enough and you SAY No to shot #5, well then you are back to being considered UnVaxxed and a segregated citizen?  Your good health is dictated by you, it’s a very personal choice. My peeps we’ve been on a Vitamin Protocol since the beginning – I’ve been building my immune system and I hope that you are too. My medical treatments are neither up to the local Government nor the shadow government. God does not ordain a forced shot system. That is a personal choice. God gave us our free will. So you can do what's best for you. Our free-will is our gift. And some may say it's a curse, But it is our right to choose. We came down here to Earth with that God-Given Birth Right. Amen.

Sure they want to make it difficult, they want to segregate you from your loved ones, your career, and transportation, and eventually the basics of food and water if you don’t comply.  Well it’s a sham. People of the world, enjoy the breath that you are breathing, that oxygen because it's not just that, its radiation and bioweapons. It's that tinkle, tinkle, what they drop from the sky. There are many airborne chemicals that humans are not aware of. The shadow government Does Not have your best interest at heart. They want to over-tax you, take away your financial freedom and your right to liberty, freedom of speech, the right to work and even your right to retire by stealing your pensions and social security that you paid for with your hard work.  Be forewarned, be aware, be prepared, but insist on your freedoms.

This is a critical time in our human history.  It is a war of good against evil, light workers against the dark ones that lie and deceive. Don’t be fooled. Pay no attention to their meaningless words, watch their actions. Hold them accountable. Stand up, Speak up. Be brave and walk through your fears because freedom is on the other side.

You have an unseen support team, God gifted you with two guardian Angels and Spirit guides too. Call on them and ask for their assistance. There are legions of Angels to help this world. They are here to help us get through this time. But they are not allowed to interfere with humans Free-Will so call on them, ASK THEM for help.

Even the highly evolved Star Beings are coming to assist. Pay attention, do not be fearful, you may be seeing them in the near future, like any day now, in broad daylight, you will see these UFOs. They are not here to harm us - they would have taken over the Earth a long time ago if that was their intent. No, they're here to inhibit the Shadow Government, the warmongers.  Why? Because the Star Beings, our celestial brothers and sisters don't want the destruction of our people, the planet or our the oceans, or our sky. What we do here affects the Universe, all the planets, all the stars. Great Spirit created a delicate ecosystem on a very grand scale. Our primitive scientists are preforming experiments that have devastating effects for eons of time; you have no idea.

But we are not alone. And we have a lot of whistle blowers that are going to blow their whistle after the holidays. So get motivated. Don't bow down to darkness. Don't entertain it. Don't engage it. Walk away from it. Evil is a false sense of power. Earth’s history tells of wipe-outs; like Sodom and Gomorrah when humans get way out of balance the slate gets wiped clean. If you abuse your power, you will lose it.

Live in the light, that is where all blessing flow. Use your gifts and your talents to make a positive difference in this world. For all the light-workers walk your talk. Live it, live it. Don't say “I know this to be true”- Live it! Stand up for all that is good and true. Stand up for the innocent.

THIS IS A TEST, THIS ONLY A TEST:
Whatever you may come upon, whether it be your eyes, your consciousness or your person, whether it be at a place in time or a moment that you are in the presence of a grave injustice; are you going to stand there and let that happen? Are you going to do everything in your power to change it? The ball is in your court, free will. That is your gift, your birthright. These moments are crucial to do what is right.

God does not sanction this bio-weapon. It was created to purposely harm humanity. The shadow government wants biological warfare with their Gain-Of-Function man-made viruses. They created the deadly virus and they own the dangerous bioweapon cure.God does not sanction this. There are legions of angels here and the ranks of Michael, Uriel and others to intercede and to help save the innocent, create healings and they do miraculous things that your mind could never comprehend … because you don't take let's say five, 10 minutes, 15 minutes out of the day to say a prayer. Please I implore you – ask God and your Angels to intercede, to remove the evil ones running this global take over, Pray for solutions, Pray for the innocent, Pray for the injured. You may not feel worthy, you may feel inadequate, but God created your soul, and Great Spirit hears every Prayer!! Let me assure you; God feels your sincerity.How will you know, unless you follow that GPS inside - your instincts, intuition and the prompting to take action?

Well, guys, get ready, buckle up, suck all the freedom up that you can, because I'm here to tell you that the Global reset is moving forward. The clock is ticking, and we are not being told - us little people, us civilians, their lab rats are not privy to their dark plans. But we have God on our side. So let's co-create a better reality for us here and for our future, for our children, for ourselves, please. This is what I asked from the people. This is it, no more, no less. Remember the law of karma, "What you do unto others, you do to yourself, tenfold." So go out of your way to create positive in your daily moment-to- moment actions and do so with a pure intentYOU make a big difference in this world!

Sending you Love and Illumination,

Michelle Whitedove

Spiritual Teacher | Author |Seer

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https://youtu.be/d7qjh4BIGbc?si=EMZgfVF1Cm7kY7Zh

Continued Learning:👇📚
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This isn't a security check—it's a trick to force you to download and run malware on your device. 💻☣️

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📧 Steal your email account.
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✅ Real human verification will never ask you to type in complex system commands. They'll only ask for letters, numbers, or to click on a picture.
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Chutes is gaining attention as a decentralized AI inference platform that claims to combine real usage, cryptographic verification, confidential computing, and open-source infrastructure into a working production system. The thesis is simple: instead of trusting Big Tech clouds with AI workloads, users get a distributed compute layer built around verification and privacy.

🔑 Key points

🔹 Chutes is live in production and reportedly scaled to more than 1,170 active GPU nodes, including large numbers of Nvidia H200s and Blackwell-class hardware.

🔹 The platform says it has processed nearly 38 trillion tokens since launch across 53 deployed applications and more than 700,000 registered users.

🔹 The team reportedly cut unprofitable usage programs, reduced total token volume, and still improved revenue efficiency, with revenue per GPU rising sharply after removing subsidized traffic.

🔹 Chutes is using post-quantum cryptography, trusted execution environments, and Nvidia confidential ...

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🔑 Key points

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🔹 Senator Cynthia Lummis pushed back publicly, framing the issue as a global strategic race and warning that if the U.S. does not set digital asset standards, other powers will.

🔹 The core tension is whether the bill creates legitimate regulatory clarity or simply opens the door to regulatory arbitrage for crypto platforms operating outside the traditional banking...

🚨 JPMorgan’s criticism of the CLARITY Act is fueling a fresh power struggle over who gets to write America’s crypto rules 🚨
👉 Coinbase just launched an AI agent for Crypto Trading

Custom AI assistants that print money in your sleep? 🔜

The future of Crypto x AI is about to go crazy.

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💠 Integrates with Coinbase’s SDK, OpenAI, & Replit

👉 What this means for the future of Crypto:

1. Open Access: Democratized access to advanced trading
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🚨 I personally wouldn't bet against Brian Armstrong and Jesse Pollak.

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How USDC Wins the Hyperliquid Deal🤔
 
USDC "wins" the Hyperliquid deal by securing dominant distribution and deeper integration into one of crypto's fastest-growing on-chain perpetuals platforms, in exchange for sharing most of the USDC reserve yield (up to ~90%) back with Hyperliquid.
 
Background on the Deal: Hyperliquid had ~$5–6B in USDC deposits (a huge chunk of total USDC supply, often cited around 7–8%). Previously, the interest/yield on those reserves (~$180–250M annually at prevailing rates) mostly flowed to Circle (issuer) and Coinbase (key partner/treasury handler), with little returning to Hyperliquid.
 
In late 2025, Hyperliquid ran an RFP for a native stablecoin (USDH) to capture that revenue. Native Markets won the community vote, and USDH launched as an "Aligned Quote Asset" (AQA).
 

In May 2026, Native Markets sold USDH brand assets to Coinbase. USDH is being sunsetted over time (with feeless conversions/redemptions to USDC/fiat), and USDC becomes the primary/official Aligned Quote Asset on Hyperliquid. Coinbase acts as the main treasury deployer; Circle handles minting, redemptions, and cross-chain (e.g., CCTP).

 

How USDC Wins: 🔑 Key Advantages

Massive, sticky distribution in a high-growth venue: Hyperliquid is a leading on-chain perp DEX. USDC gains preferred status as the quote asset for most trading pairs, reducing friction vs. bridging/swapping other stables. This concentrates liquidity, improves efficiency, and funnels more capital flows through USDC.

  • Deep on-chain integration: Builds on prior Native USDC + CCTP launches. Coinbase's involvement adds fiat on/off-ramps and institutional trust. USDC was already dominant (~95% of stables on the platform); this formalizes and expands it.
  • Regulatory and brand alignment: Ties USDC to a high-profile, high-volume platform at a time when USDC has gained transaction volume momentum (surpassing USDT in some months post-regulatory clarity like GENIUS). It strengthens USDC's positioning vs. USDT (which dominates on centralized venues like Binance).
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The Trade-Off (and Hyperliquid's Win)Hyperliquid gets ~90% of the reserve yield (estimates: $135–160M+ annually at current balances, potentially scaling to $300–500M with growth), funneled into protocol revenue/HYPE buybacks. This is roughly double what they got from USDH and turns stablecoin balances into a resilient revenue stream (less volatile than trading fees).

For Circle/Coinbase, they give up a big share of yield (analysts estimate $60–80M hit to combined EBITDA) but retain/expand USDC's role as the backbone stable on a major platform. It's a strategic distribution win over building or competing with a new native coin.

 
🎯Bottom Line: USDC trades some margin for premier, high-volume real estate in perpetuals/DeFi trading—the exact use case driving massive on-chain dollar demand. This cements its lead in the evolving stablecoin wars, especially as platforms demand better economics. The deal highlights shifting power dynamics: big platforms now negotiate hard for yield share.

 

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Handshake Wants to Be the Front Door to Bittensor’s Agent Economy

In this Beanstock interview, Harry Jackson of Subnet 58 (Handshake) lays out a thesis that’s worth understanding even if you never buy a single SN58 alpha token. He also explained where Bittensor’s agentic layer is heading.

We wrote the high-value distillation:

The one-line thesis

Handshake wants to be the front door to the agent economy on Bittensor. The Amazon-like gateway where AI agents discover, pay for, and stack together skills from across all 128 subnets.

Why this matters now
  • There’s a critical distinction Harry emphasized: AI is intelligence, but agents need tooling. An LLM without payment rails, plugins, and workflow infrastructure is “a young person trying to cut a tree down with a pen knife.”
  • Agent-to-agent commerce is on the edge of going viral. Harry’s prediction for the tipping point: a woman in her 40s lets her agent do her shopping end-to-end (research, stock check, autonomous payment), posts it to social media, and it becomes the “four-minute mile” moment everyone copies.
  • Bittensor is uniquely positioned because agents don’t care about marketing or pretty UIs. They only care about best-in-class products and services. That’s exactly what Bittensor’s 128 subnets produce.

The product reality (what’s currently shipping)

  • Handshake is live with paying users generating a few thousand USD in revenue as of today. The business model: 2% of every transaction on the platform.
  • The flywheel is Amazon-like: better skills → more agents arrive → providers get distribution → more skills get added → cycle repeats.
  • The headline product on the way is Axiom. This is an agent that trades subnets while you sleep. Built around the realization that what the Bittensor community wants from agents isn’t generic skills; it’s more TAO. Each “hole” they find in the agent becomes a new tradeable skill on the marketplace.

The investment angles (read these carefully)

  • The moat is data, not distribution. Every workflow run by an agent generates failure data, success data, payment data. No outside competitor can replicate that without running the marketplace itself.
  • The metric Harry tells you to judge them on is revenue. Not agent count. Not user count. Revenue, which is publicly visible on-chain via the front page of their site. He’s basically inviting investors to hold him to it.

  • The pitch for emissions: the biggest TAM in Bittensor is the agent market, and Handshake is the most integrated subnet, meaning if Handshake wins, the subnets it routes to all win too. Bullish on agents + bullish on Bittensor = bullish on Handshake by transitive logic.

Where Harry stands on the Conviction

  • On the conviction upgrade and locked alpha: he’s fine with it. Handshake is a revenue-focused company, so locked alpha isn’t a survival issue. He acknowledges it’ll be harder on research-stage subnets that need to raise external capital, but argues most subnet founders are thinking long-term, not short-term extraction.
  • On the broader vibe: he just got back from Bittensor events in Spain and San Francisco. He observed that the overwhelming reality of the ecosystem is people working hard to build the best products. “It’d be a lot easier in some ways to build a company outside of Bittensor.” The only reason to do it on Bittensor is if you actually want the moonshot.

Full interview below:

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🚨The State Of Bittensor (TAO)🚨
Greg Schvey | COO at Yuma Group

Last week at the @YumaGroup Summit I had the opportunity to present on The State of Bittensor. That presentation is in the thread below. If you choose to read it, I'd ask that you keep the following three things in mind:

  1. This is just one guy's view of what was the most relevant for a 25-minute talk; a difficult filter for such a dynamic industry.
  2. The slides were designed to supplement a talk; I've done my best to replicate what I recall of the talk in the accompanying X posts.
  3. The topic of the Summit was "The Tipping Point" - a candid assessment of what could lead to Bittensor's breakout success and what evidence we see of that today - which also thematically anchored this presentation.

Let's dive in:

We are in the most important race in human history – the race for intelligence itself. AI has advanced beyond the point of no return. As an example of what I mean: Ramp is a widely used financial services platform for companies. They looked at spending and revenue across their clients since the launch of ChatGPT: Companies who did not spend on AI have had flat revenue for the last three years. The top quartile of AI spenders have grown revenue by more than 100%.

We are already at the point where investing in AI is a matter of survival. But what exactly are we getting for the hundreds of billions being spent? Right now, its overwhelmingly going to corporations who have repeatedly shown they don’t have our best interest in mind.

 

 

Claude Opus 4.6 – the leading deep thinking model, had a measured hallucination rate of 16% in February. Then, without telling anyone, Anthropic throttled its reasoning – presumably to reduce GPU utilization – and didn’t tell anyone. Hallucinations climbed to 33% - a 98% increase.

They only admitted it after third party benchmarking proved it. And they were still charging everyone at the same price the whole time. Even since my talk last week, they've supposedly been found to be throttling people simply because HERMES.md was in their commits. You may say, "well there are solid open source options..."

 

 

Yes, open source models have gotten very good, but they’re not immune to capture either. Try asking DeepSeek what happened in Tiananmen Square and then let me know if that’s the intelligence you want to trust.

 

 

This needs to be addressed right now or it will be too late. To give you a sense of what I mean, this is a chart of the total annual commits on GitHub. That’s 500% growth since the launch of ChatGPT in 2022. From 200M per year to a one billion in 2025. 2026 is on track for **14 billion** The genie is out of the bottle – there is no going back; we are already at the exponential inflection point.

This reminds me of many years ago: Bitcoin shined a light on how much our rights were impacted when we became dependent on private companies to run our day-to-day lives.

Your right to privacy? That doesn’t extend to your bank account. Your "money" is just a ledger at a private company, available for interrogation and suspension at any time. Bitcoin gave us back the sovereignty of our wealth.

Similarly, we’ve depended on things like privacy of our medical records and attorney client privilege for our entire lives. What do you think is going to happen when a private company’s servers are giving you legal and medical advice? Who are you going to trust for that intelligence? The company that lobotomized its top model? The model constrained by the foreign governments? As I said at the beginning, we’re in the most important race in human history and Bittensor well may be our best shot at winning.

 

 

One of the things about having a different model to produce intelligence is it requires an economic system suited to it. Subnets are the intelligence and economic engines that drive Bittensor’s value. That’s why the Summit was themed around The Tipping Point: understanding how subnets can reach breakout success and what we can do to help.

To summarize Bittensor's intelligence economics: miners create intelligence for which they earn subnet tokens. In many cases they sell those tokens to fund operations, putting downward pressure on token prices and decreasing the incentive to mine (similar to bitcoin). In parallel, if that intelligence is being used to generate real world value, one of the parties who benefits from that value (e.g. the Operator monetizing it, institutions using intelligence commodities to advance their research, etc.) can buy the subnet tokens to keep token prices elevated and sustain the miner incentive.

Investors get to participate in this process, often supporting token prices before the commercial value of intelligence is realized, and/or subsequently holding an asset that parties gaining fundamental value from the intelligence (eg Operator or others) will need to purchase at some point in the future if they want to maintain sufficient incentives for the intelligence machine to continue running.

For Bittensor to succeed, this value loop has to work. So, to understand the State of Bittensor, we have to take a look at how that’s going today and what that means for the network overall.

 

 

One of the many unique features of Bittensor is that subnets are native to the protocol. That is not the case on most crypto networks where the true utility lives in smart contracts with no direct tie to network value.

As an example, Polymarket has seen 800% growth in volume this year. Users can bet any arbitrarily large amount of value on Polymarket for a few cents of network fees. There is nothing tying that to value of the network’s native token, which is down 80% over the same period as Polymarket’s amazing success.

 

 

Conversely, Bittensor subnets are intrinsically linked to $TAO. If you want $1,000 worth of subnet exposure, you first need $1,000 of TAO. We analyzed subnet pool data surrounding the announcement of @tplr_ai's recent training run and normalized across them by indexing them to a starting level of 100.

As shown by the orange line, there was no material change in pool size for non-Templar subnets over the observation period. There was however, major inflow into Templar’s pool. Given Bittensor’s unique network model, we saw a direct correlation to the change in TAO price over the same period. As value flows into subnets, the whole network benefits. A rising boat lifts the tide, so to speak.

 

 

That can go both ways. When Sam left, we saw something similar in reverse; as value was exfiltrated from the network, it started in Covenant subnets and dragged TAO down with it. You know what else we saw in the data though? For all of the noise about concerns of Bittensor’s future, the other subnet pools were mostly unchanged.

The event was interesting because it reminded me of the early days of bitcoin: people would say Bitcoin was only used by drug dealers on the internet. I'd stare at them aghast because in the same breath they told me that an open, permissionless network was used to reliably move money anywhere in the world in minutes by the most untrustworthy people on the planet and yet they didn't understand how the technical feat required to achieve that would create tremendous value.

The Covenant situation is similar: people were concerned about the operator's exit, rather than realizing the only reason we care is because a ground-breaking technical innovation was achieved. But even bigger than that: Bittensor has 128 subnets currently, each striving to generate value for themselves and, transitively, the network as well.

 

 

And we’re seeing that occur – Templar was not unique in that regard. The same pattern emerged around the Intel publication on @TargonCompute. The non-Targon pools remained largely unchanged. Targon saw heavy inflows. TAO price climbed with it.

Again: rising boats lift the tide. And there are many boats in Bittensor right now.

 

 

We’re seeing major technical innovations at an increasing rate.

Just a few examples from the last couple weeks:

@QuasarModels just announced a custom attention architecture targeting 5M token context windows.
 
@IOTA_SN9 developed a technique that compresses data flowing between distributed GPUs by 128x with little to no loss in training quality, increasing viability of training large AI models across internet-connected machines worldwide.
 
We're seeing the building blocks start to form whereby competitive large generalized models can eventually be built. In the meantime, we're also witnessing more targeted, niche players start to pull ahead in their respective fields.
 
During the presentation, I gave the example of @resilabsai achieving 90% accuracy on their home valuation model, making it the most performant open source model and quickly approaching state of the art. Quite literally as I was explaining this during the talk, @markjeffrey pointed out they had just achieved 98% accuracy.
 
In the time between when I prepared the presentation and actually presented, they went from best open source to at or near state of the art - only further highlighting the unique value of Bittensor's open, competitive intelligence creation cycle.
 
 
And the tech that’s being built on Bittensor is getting real attention from serious players. Again, just a few examples of many: Harvard partnered with @Chutes on research about AI inference efficiency. Valeo – an auto company with $20B in annual revenue – is working with @natix on an AI model for self-driving cars. @zeussubnet- the weather forecasting subnet, is the only party in the world allowed to use data WeatherXM’s network of global weather sensors for commercial purposes. And there are in fact many subnets already commercializing their intelligence.
 
 
 
Most of us are already aware of Chutes seven-figure ARR, but a few other examples:
 
@LeadpoetAI– which uses their Bittensor subnet to source sales leads, announced earlier this year that they crossed $1M ARR
 
@Bitcast_network– the content creation platform built on their subnet competition – is already operating profitably
 
@lium_io– a hardware subnet – has bought more than 4,000 TAO worth of their token
 
Remember the economic model I outlined earlier; we’re seeing real evidence that it’s starting to work across many subnets. Intelligence built on Bittensor, capturing value in the real economy, and bringing it back into the network.
 
Action shot of this slide courtesy of @Tom_dot_b
 
 
That’s why when we look at Bittensor we like to look at Total Network Value (TNV);
$TAO market cap is only part of the story in Bittensor. TNV = market cap of TAO + market cap of subnets – tao in the pools [as not to double count] The actual value of this network is already higher than most people realize. And notably, subnets make up an increasing proportion of TNV – recently crossing 35% - as value continues to flow into the pools.
 
 
 
Interestingly, we recently noticed a change in TNV: In particular, despite all the volatility in TAO, the dramatic subnet issuance curves, etc. - the combined subnet market cap had been remarkably consistent around $750 million for most of the last year, until recently.
 
It’s nearly doubled over the last few months – a clear breakout in the trend. If you were looking for Tipping Point, it might look something like this...
 
 
 
I hear a lot that that value is relatively concentrated in the largest subnets. And the market cap distribution does indeed reflect that, but that’s not necessarily a bad thing.
 
 
 
This is the market cap distribution of the S&P 500. Many healthy economic systems tend towards Pareto distributions. And so what if some subnets are worth more? As we showed earlier, this is an ecosystem that will win or lose *together* And we’re seeing that play out every day.
 
 
 
We track announcements of subnets utilizing each others infrastructure and intelligence. Just as an example, we identified at least eight subnets who announced that they use Chutes for inference. But we have dozens of similar examples of cross-subnet collaboration across many subnets like
 
What’s notable about this:
 
1. Collaboration seems to be happening at an increasing pace as subnets continue to mature and build out contiguous pipelines of AI infrastructure
 
2. Keeping money circulating within an economy creates a money multiplier. Capital circulating within a single economy without leaving creates economic value for each party it passes through, without having to bring in new capital. That’s uniquely possible here because of the diversity of infrastructure built on Bittensor.
 
This network is not 128 discrete growth drivers; it’s increasingly functioning as an interconnected graph, which has substantially more stickiness and value And the pace is about to increase dramatically:
 
 
 
We’re starting to see increasing agents operating on Bittensor: subnets mined by agents, subnets operated by agents...
 
Consider the Bittensor value flywheel:
 
-An intelligence goal is established
-Miners compete to achieve the goal
-That produces intelligence
-Intelligence generates value
 
That’s happening today, as we’ve seen earlier in this discussion.
 
As agents get more capable, that flywheel spins faster and faster. Permissionless entry means any agent can compete. Protocol-native economic incentives mean good work gets rewarded. Bittensor is uniquely advantaged for agentic speed over guarded, centralized alternatives with corporate procurement cycles.
 
That also means exploits will be found faster. But, it also means solutions that harden the network against them will be found faster as well.
 
Accordingly the impact of the network primitives – incentives, accessibility, governance, security, reliability, and all the infrastructure we’re building around the network - have an exponentially larger impact. It is critical that we get these right. The time to nail this, is right now. If we don’t someone else will.
 
 
 
The good news is, for now, Bittensor seems to be in the lead The 30-day moving average of Daily active wallets just crossed a record, approaching 10,000 Up 100% just in the last year.
 
 
 
We’re also seeing subnet ownership increasingly diversify and distribute. The median number of holders of subnet tokens at 2,000 is a 10x increase since the dtao launch a year ago. And at Yuma, we spend a lot of effort and resources to help broaden that access.
 
 
 
Yuma currently partners with 16 custodian and wallet providers to bring Bittensor access to the masses As an institutional-grade validator, the relationships and service we offer give them the confidence to make TAO staking available to millions of end users.
 
During the Summit, we announced that BitGo’s clients will now have access to subnet token staking through our partnership, making subnet investing available to customers of one of the world’s largest custodians.
 
 
 
We also help people gain access to subnets via investment vehicles. The Yuma Composite Fund gives investors access to a market-cap weighted portfolio of subnets through traditional investment structures. The Yuma Large Cap Fund gives investors concentrated exposure to Bittensor's largest subnets.
 
Our institutional asset management team handles everything from initial subnet token purchases, to portfolio rebalancing, custody, and reporting. The appeal for institutions is obvious, but even for the Bittensor native, it’s an amazingly simple way to get access to a broadly diversified portfolio, rebalanced regularly.
 
Between the breakout performance of subnets, the attractive staking rewards, and benefits of diversification, the Yuma funds have outperformed TAO materially year to date [as of when the presentation was created] Nearly 3x outperformance relative to TAO.
 
 
 
And last but definitely not least, our subnet accelerator has helped a wide range of companies access Bittensor. We help them acquire subnet slots, design incentives, provide marketing assistance, review pitch decks, make introductions to other investors, etc. At Yuma we deeply believe in the power of subnets and have helped many of the network's leading intelligence providers start and succeed.
 
 
 
Disclaimer: For informational purposes only.  Nothing herein should be construed as financial, investment, legal, or tax advice.  This material does not constitute an offer to sell or a solicitation of an offer to buy any securities or tokens.  Investing in digital assets involves significant risk, including the potential loss of principal.  Subnet tokens do not represent equity or ownership interests in any entity.  Performance comparisons and index references are illustrative only and not indicative of future results.  Charts and indices are based on methodologies and assumptions that may change and may not reflect actual market conditions or liquidity.
 

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