This started as our year-in-review report on Bittensor. But halfway through writing it, we realized there wasn't a single comprehensive resource that simply explains the thesis, maps the ecosystem's growth, and explains Dynamic TAO
So Seth and I set out to create it
Isn’t it the entry barrier for ordinary players even higher now in the crypto industry? No good deals on CEX, and hard to participate in the onchain games.
Summary of $RUNE situation
- Protocol has over 200m debt to users from Lending (ThorFi)
- Last week proposals from community to address the issue. @1984_is_today was huge driver of this
- ~12 hours ago seems like he capitulated, selling $RUNE bags and signalling to leave on some nodes
- Few other nodes followed suit, 26 nodes now signalled to leave ~20% of network.
- When churn happens, within next 24 hours if not halted, there will be ~20M $RUNE hitting the market. Presumably they signalled to leave in order to sell.
- The trade assets on protocol (used for arbitraging) has been decreasing over the last 24 hours (from 50 BTC -> ~10BTC)
- Price difference on TC versus CEXs dislocating
What happens next? Contingent on a few of these above points, but those are the facts.