Bittensor Income Desert: Why $52M in Subsidies Mask a TAO Crypto Valuation Risk
Bittensor (TAO crypto) is at present priced on an annual subsidy of $52 million, not natural income. The decentralized AI protocol incentivizes its subnet to emit 518 TAO day by day to prime performers like Chutes, masking a near-term liquidity disaster. With a $1.37 billion subnet market cap and near-zero natural validator yield, the community…
