Limsa

Bitcoin / Biττensor (ττ)

[Anthropic @AnthropicAI]

The US government, citing national security authorities, has issued an export control directive to suspend all access to Fable 5 and Mythos 5 by any foreign national, whether inside or outside the United States, including foreign national Anthropic employees.

The net effect of this order is that we must abruptly disable Fable 5 and Mythos 5 for all our customers to ensure compliance.

Access to all other Claude models is not affected.

We apologize for this disruption to our customers. We believe this is a misunderstanding and are working to restore access as soon as possible.

Read our full statement: https://t.co/bwn0sximKZ

[Limsa @LimsaSC]

This is exactly when there is silence about the subnet that you should get interested in it, so you don't have to chase the rabbit later.

[Limsa @LimsaSC]

bittensor:native

#SN45 is no longer just Talisman, what is being built is significantly bigger. 🧵

[Limsa @LimsaSC]

The team is still working on several other things to be more accessible and efficient, but they will inform us about that later. One thing is certain, a lot is happening behind the scenes, and there are many conversations about strategic partnerships.

[AYprotocols® @AYprotocols]

$TAO Subnet 45 is bringing AI trading agents to Talisman Wallet

Announced at General Tensor, the first prototype is expected to launch within the next few weeks.

The integration will let users create AI agents that can monitor markets, execute trades, and help manage portfolios directly from Talisman, combining the intelligence of SN45 with a familiar wallet experience

[seth bloomberg @bloomberg_seth]

Bittensor’s Conviction upgrade just hit mainnet today. The feature has a large scope and is the most wide reaching upgrade since Dynamic TAO, impacting every stakeholder on the network.

Important note before diving into all the details: as of today, Conviction is functionally opt-in for subnet owners and has no material impact on stakeholders (e.g., subnet owners are at no risk of losing their subnet). Subnet owners and the community are being given time to explore the mechanics of the upgrade, discuss what settings work best for both tokenholders and subnet operators, and can/should voice feedback during this initial phase.

Those within the network know Bittensor protocol development moves fast, so below you’ll find everything you need to know about the upgrade and how it’s being rolled out.

Summary of Conviction
Conviction is an onchain token-locking primitive. Users can lock alpha tokens to a key which (1) creates a "conviction" score and (2) locks tokens for a certain period of time. The intent is for subnet owners to be able to lock up tokens to signal their long-term conviction for building on the subnet.

Eventually, functionality will be added that enables anyone to contest ownership of a subnet (they’ll need to have at least 10% of the Alpha held by tokenholders backing them), and if successful (i.e., a new key has a higher conviction score than the owner key), take control over it. Subnets that are less than 1 year old will be excluded from this feature. This functionality is not yet enabled on mainnet.

Locked tokens can be unlocked by calling an onchain function. The unlock schedule follows an exponential curve, with 50% of the locked tokens available after 3 months, ~95% after 12 months. Locked tokens can still be transferred for OTC investments, but they will remain in the state they’re received in (e.g., if an investor receives locked tokens they’ll remain locked unless they choose to unlock them).

For now, Conviction is primarily a social signaling feature. No subnets can be taken over. Subnet stakeholders will all need to work together to decide what the norms/expectations will be for each subnet, as they all have different constraints.

What’s on mainnet, how it works, and what’s not on mainnet
A user (any coldkey; subnet owner, regular token holder, etc) can lock some amount of their alpha on a subnet to a specific hotkey. While locked, that alpha cannot be sold. Over time, the lock also generates a "conviction" score that follows a continuous exponential formula.

When locking, the user can choose between two lock modes:
• Decaying lock (the default): locked alpha exponentially unlocks over time. After 3 months, half is liquid; after one year, ~95% is liquid.
• Perpetual lock: locked alpha stays locked forever (until the user toggles to decaying).

A given coldkey can have at most one active lock per subnet. Top-ups on locks must target the same hotkey (no locking to two different keys). Moving a lock to a different hotkey is allowed but resets conviction to zero.

Subnet owners can decide whether their owner emissions are auto-locked or liquid. If set to auto-lock, every owner emission for that subnet is automatically locked to their hotkey rather than flowing in as liquid stake. The default on mainnet is liquid, not auto-locked. Subnet owners effectively have to opt-in to Conviction at this level. Subnet owners will also have to decide whether to lock all, a portion, or none of their current holdings, and whether a lock would be set to decay or perpetually locked.

For a simple example: under a decaying lock with these defaults listed above, locked tokens and conviction evolve as:
• Days Elapsed = 30; % still locked = 79%; conviction score (% of locked tokens) = 18%
• Days Elapsed = 90; % still locked = 50%; conviction score (% of locked tokens) = 35%
• Days Elapsed = 130; % still locked = 37%; conviction score (% of locked tokens) = 37% (peak)
• Days Elapsed = 180; % still locked = 25%; conviction score (% of locked tokens) = 35%
• Days Elapsed = 365; % still locked = 5%; conviction score (% of locked tokens) = 17%

Under a perpetual lock, locked tokens stay constant and conviction matures to its asymptote on the same 90-day half-life curve.

The system is not symmetric across all users. Subnet owner conviction is immediate. When the subnet owner's own coldkey locks alpha to their subnet, conviction is set to equal the locked token mass instantly. There is no 90-day ramp up. The owner has the most to commit and gets credited for it immediately. Anyone locked to the subnet owner's hotkey is also granted immediate conviction. Subnet owners have a structural advantage in keeping ownership of their subnet.

Transfers carry locks with them. Often, teams will execute OTC deals with investors via token transfers; these will still function the same way as they do today. However, when alpha moves between coldkeys, the lock follows the alpha. The receiving coldkey inherits the lock state and can choose to make it perpetual or immediately decay. So, if a subnet owner transfers an investor locked tokens, it will be up to the investor to decide when to unlock them. The unlocking event is also an onchain event.

The hotkey association on token transfer must match the receiving key. If the receiving coldkey has an existing lock to a different hotkey, the transfer fails. This prevents locking across different hotkey commitments.

Right now, Conviction scores are computed, stored, exposed via RPC, but nothing onchain consumes them. The one function that would consume aggregate conviction, change_subnet_owner_if_needed, which would replace a subnet's owner with the highest-conviction hotkey's coldkey under certain conditions, is not functional yet.

Think of what’s shipped today as the initial, slow rollout of the grander Conviction design.

What to expect now
All subnet stakeholders should start understanding, experimenting with, and discussing the design and parameters of Conviction. Every subnet operator has different funding constraints, trust levels, and maturity on a relative basis. A large part of Conviction will be settling on the norms and expectations the community/social fabric has with respect to subnet teams.

Many of these parameters discussed above can be tweaked via governance. The takeover design/mechanism has yet to be rolled out yet, so it can still be evolved based on community feedback.

Come join the community call/Novelty Search tonight to hear Const discuss these changes and provide feedback directly.

[Limsa @LimsaSC]

@SubnetSummerTAO @const_reborn In the vast majority of channels, it's not the miners who are voting in the overwhelming majority, but speculators. Blowing this up is so stupid that it's not even worth talking about.

[Limsa @LimsaSC]

@HungNgu76442123 Many miners and many speculators. Feedback from miners is definitely very important, but on the vast majority of channels it’s the investors who are speaking. The more losses, the more negative voices. This kind of voting is completely unreliable.

[Limsa @LimsaSC]

@CryptoZPunisher After all, this whole thumbs up or down poll is completely unserious. In the vast majority of cases, it's investors clicking it. Real input from miners is necessary, but in this form, it's one big joke.

[Limsa @LimsaSC]

@vaNlabs @const_reborn All these thumbs down or up are correlated with the price. And that's how it is in the vast majority of channels. It's simply investors clicking...