Joined April 2022
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My podcast with @VenturaLabs on #bittensor, decentralized #compute and future of #blockchain such as #RWA tokenization, #DeAI & even #memecoins. Touched upon my fascination with #tokenization & #energy and far reaching potential of these areas Suggestions, criticism are welcome $TAO #CRYPTO
Ventura Labs Ep. 24 - Dr. Fahd S. Khan Dr. Fahd S. Khan (@ProfFahdKhan) is Founding Director/PI of the HBL Center for Blockchain & OGDCL Clean Energy Center, GIKI. Timestamps: 2:50 - Introduction 3:31 - Introduction to Dr. Fahd S. Khan 5:18 - Energy Meets Blockchain Innovation 9:12 - Blockchain’s Role in Energy Trading 14:51 - Decentralized Compute with Bittensor 24:31 - AI and Tokenization: Blockchain’s Future 30:58 - Challenges of Mapping Real-World Assets 32:27 - Verification in Decentralized Systems 33:50 - Exploring Yuma Consensus 35:33 - Intelligence Evaluating Intelligence 38:09 - Market Approaches for AI Valuation 41:45 - The Journey to AGI 45:18 - Morality’s Role in AGI 47:22 - Addressing Bias in AI Training 49:03 - Human Mimicry in Defining AGI 50:51 - Beyond Senses: AI Evolution 53:34 - Bittensor’s Vision for the Future 55:09 - Decentralization’s Societal Impact 56:38 - A Digital World: Dream or Reality? 59:31 - Advice for Blockchain Beginners
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Dr. Fahd S. Khan retweeted
Subnets are the intelligence engines of Bittensor, but still remain largely inaccessible to the general public. Today we took a big step towards addressing that by making access to them available to customers of one of the world’s leading crypto platforms.
May 18
App, custody, and institutional users on @cryptocom can now stake both $TAO and subnet tokens through Yuma's validators, enabling access to @bittensor ecosystem yield for the trading platform's 150M global audience.
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Are there still doubts on why #bittensor is absolutely necessary for the world ? #TAO
Not like this... This is not the way. Not a good precedent to set. Will lead to govt biasing the models to reinforce their views within the population. This is why decentralization of models is of.utmost importance. Freedom of synthetic thought should be protected.
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The most asymmetric trade in #Crypto is sitting in plain sight at a $2.7 billion MC. Being an academic, I have spent time thinking abt the mathematical case for $TAO, reviewing frameworks & recent reports. $1 TRILLION #Bittensor Market Cap by Sept 2034 (~370x). Here’s how: 🧵
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14/ A mechanism-design note for @const_reborn @shibshib89 @opentensor: Nov 2025 emission changed rewards subnets for net flows into their pools. Good. That kills speculative life-support for dying subnets. But it doesn't reward subnets for being useful to other subnets - which is the variable c in the multiplier mentioned above. The variable that drives the convexity of the entire ecosystem. I propose what I cheekily will call the Khan Coefficient if you want a name for it: E_j = Base_j × [1 κ · Σ_k Usage_jk] where Usage_jk = verified consumption of subnet j's outputs by subnet k. A subnet powering eight other subnets scores high. A standalone subnet with no internal customers scores low. κ is small enough to preserve the existing flow signal but large enough to bias the network toward integration. This makes the recycling rate operational rather than emergent. Inter-Subnet collaboration is what compounds the multiplier. The protocol should reward exactly that.
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15/ Conclusion ? Let me be direct about what I believe. #Bittensor is the only major network where: a) The protocol's tokenomics force a tight, AMM-mediated link between subnet growth & native token demand. b) Supply is constrained by a continuous halving cascade that runs through 2030s & beyond. c) The recycling rate compounds inter-subnet capital flows convexly, not linearly. d) Agents are about to operate at machine velocity inside a fixed-float regime. e) Institutions are showing interest publicly & may well be accumulating privately. These are independently true. They compound when stacked. The asymmetric setup is this: at $2.7B MC, the downside case requires multiple structural features of the network to fail simultaneously. The upside case requires the trends already in motion to continue. The institutions have arrived. The mechanism is empirically validated. The agent economy is operational. The supply compression cascade is mathematical, not narrative. What happens when you hold an asset where every input is moving in your favor and the market hasn't repriced yet? You find out what asymmetric actually means. $ 1 Trillion by Sept 2034 ! Disagree on merits.
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Bittensor Ecosystem Highlights of the Week #58 // SUBNET UPDATES & ACHIEVEMENTS ➤ @oroagents SN15 Oro properly introduced their subnet, showcasing their agent competition and the fact that they’ve already beaten GPT-5.4 on one of the hardest online shopping evals. (bit.ly/3QJHsXL) (bit.ly/4vROzxm) They also released bittensor-auth, an open-source auth stack for HTTP-level Bittensor hotkey authentication across APIs, dashboards, and web apps. (bit.ly/4txq8DR) ➤ @blockmachine_io SN19 Blockmachine’s decentralized RPC infrastructure is now live on Bittensor mainnet. (x.com/blockmachine_io/status…) ➤ @QuasarModels SN24 They introduced Quasar-3B-A1B-Preview, a looped continuous-time transformer built for long-context intelligence. (x.com/QuasarModels/status/20…) ➤ @affine_io SN120 Affine-I beat Qwen3-32B on every SWE benchmark they ran, and more recently, Affine-II outperformed Affine-I across all 6 live environments. (x.com/affine_io/status/20457…) (x.com/affine_io/status/20473…) ➤ @webuildscore SN44 @MaxScore showcased the scores they’ve already reached across their different skills compared to target levels. (x.com/MaxScore/status/204597…) ➤ @Apex_SN1 SN1 Their Energy Arbitrage competition is now live, which will be used to optimize when and where large battery systems should store or release energy. (x.com/Apex_SN1/status/204658…) ➤ @chutes_ai SN64 Qwen3.6-27B and Kimi K2.6 are now live on Chutes. (x.com/chutes_ai/status/20476…) (x.com/chutes_ai/status/20465…) Oro’s agent competition is now running on Chutes. (x.com/chutes_ai/status/20469…) ➤ @theminos_ai SN107 x @TargonCompute SN4 Minos introduced MinosVM, powered by Targon Compute. (x.com/theminos_ai/status/204…) (x.com/TargonCompute/status/2…) ➤ @EnigmaSN63 SN63 They unveiled their Hardening QuantumProof challenge in collaboration with @BlueQubitIO. (x.com/EnigmaSN63/status/2047…) ➤ @IOTA_SN9 SN9 Macrocosmos released their IOTA Overview Dashboard, showcasing their progress over time. (x.com/MacrocosmosAI/status/2…) ➤ @resilabsai SN46 Resi teased a newly signed partnership with a nationwide lender. (x.com/resilabsai/status/2047…) ➤ @ridges_ai SN62 They’ve integrated the Harbor framework from Terminal Bench. (x.com/ridges_ai/status/20465…) ➤ @zeussubnet SN18 Their new subnet dashboard is live. (x.com/zeussubnet/status/2046…) ➤ @SomaSubnet SN114 They released SOMARIZER, a tool that lets you compress your text while keeping the same context with fewer tokens. (x.com/SomaSubnet/status/2047…) ➤ @NiomeAI SN55 Niome partnered with the Institute of Medical Sciences at Aberdeen. (x.com/NiomeAI/status/2046133…) ➤ @leoma_ai SN99 They released Leoma’s white paper. (x.com/vex020900/status/20477…) // SUBNET INVESTMENTS ➤ @resilabsai SN46 @stillcorecap invested in RESI’s alpha token. (x.com/markjeffrey/status/204…) ➤ @SwarmSubnet SN124 They raised an additional $430,000 from Everblue & Green. (x.com/SwarmSubnet/status/204…) // NEW SUBNETS ➤ @green_compute_ SN110 They're "an inference marketplace where only verifiably green compute gets paid". (x.com/green_compute_/status/…) ➤ @vocence_bt SN78 Vocence, a voice intelligence layer, relaunched on Subnet 78. (x.com/vocence_bt/status/2047…) // BITTENSOR ECOSYSTEM ➤ @BitGo BitGo partnered with Yuma to deliver an institutional-grade solution for Bittensor subnet tokens. (x.com/BitGo/status/204626156…) ➤ @DCGco @YumaGroup invited their Bittensor partners and other Bittensor leaders to the DCG Summit. (x.com/BarrySilbert/status/20…) ➤ @opentensor @const_reborn will be giving keynotes at Imperial College London, the University of Cambridge, and the University of Oxford later this April. (x.com/opentensor/status/2047…) // PODCASTS & ARTICLES ➤ @twistartups podcast with @bitstarterAI and @TrajectoryRL (x.com/twistartups/status/204…) ➤ TWIST podcast with @sebyrubino from Resi. (x.com/twistartups/status/204…) ➤ @VenturaLabs podcast with @TroyQuasar from Quasar (x.com/VenturaLabs/status/204…) ➤ @digitizedweekly podcast with @Tom_A_Lynch from @actualinc (x.com/digitizedweekly/status…) ➤ Revenue Search 63 with @Investing88ai (x.com/SiamKidd/status/204697…) ➤ Revenue Search 64 with Green Compute (x.com/SiamKidd/status/204661…) ➤ @jollygreenmoney podcast with @mogmachine (x.com/jollygreenmoney/status…) ➤ @gordonfrayne podcast with @adtao_ppcrebel (x.com/gordonfrayne/status/20…) ➤ @SubnetSummerTAO AMA with @ai_detection (x.com/SubnetSummerTAO/status…) ➤ @onchain_tv by @JesusMartinez with @rob_svrn from Stillcore. (x.com/onchain_tv/status/2046…) ➤ Gordon Frayne podcast with @TensorUSD (x.com/TensorUSD/status/20467…) $TAO
The cofounders of TensorUSD are going live in 2 days to talk about the future of stablecoins on the Bittensor network. Our Co-founders: Khem Raj Regmi @iamkhemrajregmi & Siddhant Devkota @taouser9331 sit down with host Gordon Frayne @gordonfrayne for a conversation you won't want to miss! From the vision to the mechanics of what makes TensorUSD different. 📅 April 23rd 🕒 CST: 9:00 AM | CEST: 4:00 PM | BST: 3:00 PM 📺 Live on X & YouTube Follow and turn on notifications so you don't miss it 🔔
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Const's statement deserves to be read carefully. Strip away the pain (which is real & understandable) and what remains is significant. A founder acknowledging structural gaps and proposing a concrete primitive to address one of them. Locked Stake is genuine. Measuring commitment as time-weighted conviction moves the conversation from 'trust me bro' to 'trust the lock'. It addresses tail risk - the gap between a team's current emissions and their long-term skin in the game & in a way that is cryptographically verifiable rather than socially enforced. Those of us who were raising these structural concerns publicly back in Aug 2023 - when this community was small enough that a thread could shake an open call and accelerate the subnet architecture conversation (x.com/ProfFahdKhan/status/16…) - know how long this kind of primitive has been needed. But commitment and integrity are different problems & both are different from process. Locked Stake ends vibes-based commitment: you either locked or you didn't. The integrity layer - neutral subnet evaluation and verifiable Proof-of-Intelligence - ends vibes-based performance: the work either verifies or it doesn't. What Const's statement shows is something upstream of both: the governance process that determines who builds these rules and how - protocol-level decisions that affect every subnet owner, every miner & every investor. Thursday call is a meaningful gesture toward transparency but I believe that it should become the foundation of something more formal - an independent advisory layer through which subnet founders, technical researchers and domain experts provide structured, public input on protocol development before decisions are finalized. An auditable, rotating function that gives this community visibility into who shapes the protocol and what they recommended. Const is right that we are moving toward a world of faceless agents and mathematical rules -which makes Legitimate Authorship of those rules the most urgent governance question in this space. Having been part of this protocol's journey, I know these inflection points are where the real architecture is either built or abandoned. The weeks after #Bitcoin's Block Size Wars or the months after the #Ethereum DAO wars. What we construct in the aftermath determines the next decade. Const is right about one thing without qualification: Bittensor is BY FAR the most decentralized #AI protocol in existence. I have believed that since before most people knew what it was. What I am proposing is not a critique of that achievement but an attempt to make it structurally undeniable. Governance Debt doesn't get paid in one statement. It gets paid in consecutive structural decisions made with community input. This is one. Let's make sure it's followed by more. #Bittensor $TAO #DecentralizedAI

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I've been in #bittensor ecosystem since the early days. I've watched this network grow from a fringe idea to something @chamath talks about publicly. I need to say something, not as a commentator but as a early subnet co-founder and as someone with skin in the game. This is not the crisis it looks like. This is Governance Debt - the compounding friction that accumulates when a protocol's social layer fails to keep pace with its technical genius. #Bitcoin went through the block size wars. #Ethereum went through the DAO wars. Both emerged more legitimate, more anti-fragile, and ultimately more valuable. Not despite the conflict - because of how the community responded to it. The question isn't who is right. The question is whether the $TAO community has the maturity to convert this moment into structural progress. I believe it does. But only if we're honest about what this dispute actually revealed. To @const_reborn: You built something genuinely rare. The #dTAO architecture is elegant — using alpha token markets to allocate emissions through price signals rather than committee decisions is one of the most honest incentive designs in crypto. Stepping down from the Opentensor CEO role was a rare act of intellectual honesty that most founders never show. I genuinely respect it. But the community asks for one more step. Not because you're wrong on the technical facts of this specific dispute. But because the gap between technical correctness and community trust has become a liability for the protocol itself. When your alpha token sells - however small relative to your holdings - read as governance actions, that is a structural problem, not a perception problem. Champion a neutral audit layer. It costs you nothing and gains the protocol everything. To @DistStateAndMe: What your team proved with Covenant-72B cannot be unproved. A 72B parameter model trained permissionlessly across dozens of contributors on commodity hardware - cited by #Anthropic's co-founder, noticed by @chamath. That proof lives in the research, not in any one network's infrastructure. Build wherever you build next. But don't let the exit become the headline that overwrites the evidence. The temperatures are high because the stakes are genuinely historic. Grayscale has filed for $TAO spot ETF. Serious institutional capital is now watching this ecosystem with real intent. The worst possible thing we can do at this exact moment is look like every other #Web3 project that imploded over informal power disputes. Now here is what I actually want to say because this moment is too important to spend entirely on the flame war. The dispute exposed #Bittensor's most critical missing layer: there is no neutral, on-chain mechanism for subnet evaluation, governance arbitration or accountability. Subnet quality is vibes-based. Emissions integrity is vibes-based. Miner collusion detection is vibes-based. When conflicts arise, they resolve on #Twitter - not through transparent, verifiable process. That is not a criticism of any individual. It is a design gap that this community can fill, permissionlessly, without asking anyone's approval. Specifically: ① A Neutral 'Moody's for Subnets' - an independent Research Validator Node producing academic-grade subnet audits. If a subnet is on 100% burn code and not running, the data makes that case. Not a founder's alpha sell. Not a Discord moderator action. The data! This also solves the cold start problem and enables a base model for weights initialization. ② Proof-of-Intelligence as Protocol Standard (PoIP) - mandating Chain-of-Thought traces that validators can mathematically verify, combined with ZK Proof-of-Compute. If we cannot verify the reasoning, we should not reward the work. This transforms #Bittensor from a market of claims into a market of verifiable intelligence. That is what Jensen #nvidia is actually betting on. ③ Shapley Value Rewards: restructuring miner compensation around unique contribution to consensus, not consensus-matching. This kills collusion incentives at the protocol level. Structurally. No moderator required. ④ Cross-Subnet Schemas - Bittensor's ERC moment - #Ethereum's equivalent of ERC. 128 isolated subnets is a fragmented network. 128 subnets on shared interoperability standards is a composable intelligence economy. The difference is enormous and buildable right now. None of these require a multisig. None require the Opentensor Foundation. None require Const's approval or Sam's blessing. They require builders who understand the protocol deeply enough to ship them - and a community that demands them loudly enough to make them unavoidable. The $TAO community has been celebrating but we have been too passive on governance. We outsourced the decisions about what this network becomes to a very small number of people and then expressed surprise when informal power concentrated exactly where formal power was absent. Revolutionary technology demands unprecedented governance. We cannot import Web2 power structures onto #Web3 rails, call it decentralization and then act shocked when the gap shows. Build the Bittensor Protocol Infrastructure & Research Lab - a permissionless, replicable innovation hub. I am proposing an International AGI Reasoning Competition targeting the top 0.1% of global reasoning architects, beginning in emerging economies that this network was always supposed to serve. I am working on the synthetic dataset archive that captures miner reasoning as a commercial asset and turns it into a Process Reward Model - making AI safe by design, not by policy. The goal is a self-sustaining model accountable to no single person. Governed by the community. Funded by validator revenue & dataset licensing. This is the Protocol Memory that will outlive all of us - and the conflict that sparked it will be a footnote. I've been quiet for a while but not anymore. If you're a serious builder, researcher, validator or investor who wants to work on this - my DMs are open. Forward! $TAO #Bittensor #DecentralizedAI
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