Greg Schvey

| Tech, markets, history, MMA
| COO at @Yumagroup; opinions my own
| Founded + sold fintech businesses to @DCGCo + @LSEplc
| Life is too short for lazy workouts

[Greg Schvey @GSchvey]

@WSquires I love this for Bittensor, but frankly the advancements here are bigger than Bittensor as well

Seriously impressive stuff. Highly encourage folks to take a close look at what was achieved here.

[Greg Schvey @GSchvey]

Three of the leading companies in the Bittensor ecosystem collaborated to develop an impact analysis on the proposed Conviction updates

If you hold $TAO or are building in the space, you should give this a read and check out the podcast discussion

High-density info throughout

[TAO.com @TAO_dot_com]

Check out the analysis document on Conviction that we put together in collaboration with @GSchvey at @YumaGroup and @Old_Samster at @UnsupervisedCap

[Greg Schvey @GSchvey]

5/5) Why it matters

The limiting factor for frontier model training has generally been access to dedicated clusters

If pipeline-parallel training over distributed hardware scales further, Bittensor becomes a credible compute layer for foundation model pretraining, not just inference.

Ultimately, the scale of a single datacenter will also be a limiting factor for any commercial entity or frontier training run. Logic would follow that decentralized training is critical for advancement in the field generally, even beyond Bittensor.

Given all of the above, this run appears to be an incremental but very real step in that direction and (in my opinion) worthy of the attention it's receiving.

[Greg Schvey @GSchvey]

I've been digging into the @MacrocosmosAI @IOTA_SN9 100B parameter pretraining run to understand what it is (or isn't) and potential implications.

My honest assessment below in case its helpful for others:

[Greg Schvey @GSchvey]

4/5) These were A100 professional GPUs, not consumer cards that IOTA is best known for using

It was also not broadly decentralized. These were 16 hand-selected A100 nodes in a controlled run.

Their substack notes it was achieved "a fraction as much" as equivalent datacenter setups. I assume the cost advantage over datacenter they mentioned comes from distributed spot/underutilized capacity pricing, not cheap hardware, but admittedly that's not clear to me either way.

Macrocosmos is explicit that this is stage 1: future stages target heterogeneous hardware, interruptible nodes, and eventually consumer-class GPUs. The current run proves the architecture works at scale; the cost story likely gets more compelling as the hardware constraints relax

[Greg Schvey @GSchvey]

Since the initial Conviction update, Bittensor has seen ~17.7M alpha locked

Equivalent to 199K $TAO or $49M; 4.6% of total subnet market cap

Just over half of the locked stake thus far is from a single address

[Yuma @YumaGroup]

Greetings from @proofoftalk 2026 in Paris!

Make sure to see our CRO @EvanMalanga speaking this afternoon at 5:35pm, and say hello at the official Bittensor Track happy hour afterward.

Or reach out to Evan, @LindsMikeStone or @JourdanYuma to meet.

[Greg Schvey @GSchvey]

Over the last couple weeks, we worked with @TAO_dot_com and @UnsupervisedCap on an impact analysis related to the proposed Conviction updates

This podcast reviews that report in a data-driven discussion on the potential implications of locking and subnet takeover

Worth a watch

[TAO.com @TAO_dot_com]

Episode 13 of the Carrot and the Stick is live from https://t.co/HbVVmMtstK! Watch @Carrot_____1 and @KeithSingery discuss Conviction!

[Yuma @YumaGroup]

Join us on the Bittensor track to hear Yuma CRO @EvanMalanga speak on June 2 at 5:35pm.

Or reach out to chat while you're in Paris.

[Yuma @YumaGroup]

Our objective is to be the go-to entry point for builders and investors in decentralized AI.

Yuma CRO @EvanMalanga lays the vision out with @LexSokolin earlier this month for @finblueprint

[Greg Schvey @GSchvey]

RT @YumaGroup: "You start to realize: if you can incentivize and commoditize it, you can build it on Bittensor."

Yuma Chief Protocol Offic…

[Lex Sokolin | Generative Ventures @LexSokolin]

In case you missed it...

Had a great chat with @EvanMalanga, Chief Revenue Officer of
@Yumagroup

[Greg Schvey @GSchvey]

The price at which Bittensor subnets get deregistered has been quietly rising since October.

Up ~2x in both TAO and USD terms.

As it rises, the weakest link in the network continues to strengthen.

[Block & Order @BAndOShow]

“Agents can launch tokens. Agents can have businesses. Agents can pay for their own compute.”

@adamsternbach , VP of Legal @YumaGroup, joins us on today's Block & Order. Watch now: https://t.co/0wFP92EfOF

[Greg Schvey @GSchvey]

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.

[Yuma @YumaGroup]

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.

[Greg Schvey @GSchvey]

Would add that @_redteam_ seems to have been programmatically buying their alpha consistently for three months.

They're staking rather than burning, but it's still providing equivalent economic support to their alpha price, driving miner and validator incentives.

[τao τemplar @TAOTemplar]

Only 2 productive bittensor subnets are consistently manually burning their alpha daily (not miner burns, these are buyback+burns).

@lium_io leads with ~87 TAO worth of their alpha burnt per day (in the last 30 days). This insane amount is partially due to buyback+burns, but also because @fish_datura is insane and is burning a lot of his subnet owner emissions.

@chutes_ai boughtback+burnt an average of ~28 TAO worth of their alpha per day (in the last 30 days).

Honorable mentions @sportstensor (almanac) and @VantaSN8 both were burning for several days in a row earlier in the month, but have now stopped.

This will be clearly visible publicly on https://t.co/M7cIsu0exk soon.

[Greg Schvey @GSchvey]

If you're not in Bittensor, it's difficult to comprehend how quickly we're moving

[Yuma @YumaGroup]

Agentic iteration on specialized models for Bittensor subnets accelerates intelligence production at a cadence exceeding Big AI.

Yuma COO Greg Schvey breaks down the massive opportunity around AI‑driven progress from the stage at #Consensus2026. Full video: https://t.co/HFQOr8r3fn