We do not speculate on AI.

One of Bittensor's most powerful capabilities is the way it can incentivise anyone from anywhere to contribute in solving some of the world's hardest problems or tasks. From protein folding to weather prediction to computer vision.

With the new explosion of AI capabilities, the “Holy Grail” of Trading is now achievable: affordable and consistently profitable autonomous trading agents. This is what Arena is cultivating.

• Battles are 2 weeks long and a new one commences every week
• Agents trade a dummy pot of $10,000 across different assets
• Prize pot of $7,500 split 60/30/10% to the top 3
• Every 4th Battle is a Showdown with $18,000 prize pot

Over time, parameters increase in difficulty and complexity, improving Agents' baseline ability. Every trade is logged with logic and reasoning submitted. Prize pots increase to incentivise algorithm sharing.

Eventually, Astrid will have a plethora of competent Trading algorithms. Astrid will generate real world revenue by deploying capital into these Agents and licensing IP to Investment Firms.

Decentralised AI is extremely good at disintermediating large incumbents. Astrid Arena will be disintermediating Quants and the multi-billion dollar Hedge Fund industry.

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Just like how Alphabet is a large umbrella company with hundreds of sub-companies like Google, YouTube, Deepmind, Google Drive, etc, with its stock (NASDAQ:GOOG) acting as a gross value capture vessel. Bittensor acts in a very similar way.

Bittensor is an umbrella protocol with 128 independent AI start ups (subnets) all focusing on different things. And the gross value capture vessel is its native token, $TAO.

Each subnet has 3 key participants: Subnet Owners, Miners and Validators.

Think of a subnet like a school. The Miners are the students doing the work. The Subnet Owners are the headmasters directing the school. The Validators are the teachers examining the students and work output.

In a decentralised AI economy, it's crucial that there are referees. Entities that run various code on each subnet to ensure that the output within a subnet is valid. These are the Validators. They keep the network honest, score output and low scoring miners get pruned from the network.

Astrid Validator is just that. We bought an existing Validator and are running hard infrastructure to validate on subnets that we partner with. This also gives us deeper insights and capabilities of these subnets which may be useful in the future.

Astrid Validator earns rewards in the form of subnet tokens for the subnets that we validate on, with the amount of reward depending on our “weight” on that subnet.

In the Gold rush, it was infrastructure businesses that flourished. Refineries and the factories that made spades and shovels. The same was true during the Internet boom with cabling and data centres. Astrid is applying the same methods across Bittensor as a whole, and one piece of infrastructure is Astrid Bridge.

In the Digital Asset world, there are many different platforms and ecosystems. It's often hard to transfer capital from one ecosystem to the next, which is why cross-chain bridges exist.

Astrid Bridge enables the buying of $TAO and subnet tokens. As Bittensor becomes more mainstream, traffic along Astrid Bridge is expected to increase as would the fees generated in the form of $TAO and USDC.

In the future, we have plans to connect Astrid Arena to a decentralised trading platform where Agents will have to trade real capital. The only way to enter this will be via Astrid Bridge and fees could be generated with every trade.

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If Arena, Validator and Bridge are the hares, then Astrid Vault is the tortoise. A slow, gradual, passive arm to Astrid that will (over time) grow into something rather substantial.

A problem that participants in Bittensor face is that some end up with huge amounts of subnet tokens but can't or don't want to sell them for fear of hurting the price of their favoured subnet.

This is where Astrid Vault can help. It is an algorithmic swapping protocol. Users can place any subnet token into the Vault which is then locked up. In exchange, Bittensor gives them an amount of SN127 (Astrid's own subnet within Bittensor) subnet tokens, minus Astrid Vault's fees, which are dynamic.

e.g. If a user has $10,000 of a subnet token and the Vault fee is 20%. The user places $10,000 of subnet tokens into the Vault and, in exchange, is emitted $8,000 worth of SN127 tokens.

There is an instant “Net Asset Value” uplift every time someone does a swap. But the power of Astrid Vault is not the fee, it's the mathematical element of Bittensor subnet tokenomics.

Bitcoin has a max supply cap of 21 million $BTC and a 4 year halving schedule. Bittensor $TAO has identical tokenomics. Subnets have a max cap of 21 million subnet tokens, but a 2-year halving schedule.

Anyone who owns a subnet token in the first 2 years receives a large share of that emission. Holders get emissions every 72 minutes. Therefore, just by holding the token, the APY is considerable due to daily compounding effects. Average APY is between 40-120% in the first 2 years.

Using pessimistic figures over a 3-year period, the amount of subnet tokens held within Astrid Vault can be expected to at least triple.

This is why Astrid Vault is expected, over time, to be the largest single contributor of value in the Company as it becomes a pseudo Digital Alpha Treasury (Alpha being Bittensor slang for subnet tokens).

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