Metagraph Capital · Bittensor Signal Board

6 – 7 October

One card per story, grouped by what kind of story it is. Sourcing quality runs across the top of every card.

2
Leads
22
Watch
274
Posts
Full
Coverage

Leads

Tier A · 2 Watchlist subnets
Tier A Team's own repo; not yet checked on chain

UR (SN25) sets its mainnet launch: 90% of miner emission goes to a reserve multisig, 10% to providers

UR switched to mainnet scoring on 6 October: 90% of miner pay goes to a 2-of-3 team multisig reserve, 10% to network providers, a split set in config but not enforced by contract (repo, 20 Sep; LAUNCH.md, commits). How that reserve is spent or locked now decides the alpha case.

90%
Miner alloc. to reserve
10%
To providers
2-of-3
Reserve multisig
18%
Take caps
6 Oct
Mainnet earnings from
1 / 256
UIDs paid at readiness
SN25 UR — github.com/urfoundation/sn, commits 6–7 Oct (bitprecipice)
Tier A Team account

Score (SN44) is rebuilding Score Studio after 143 free users and 3% conversion

Studio, Score's self-serve vision-AI product, has 143 free users and about four paying (3% conversion); Score is rebuilding and relaunching it (7 Oct). B2B partners, excluded here, carried September's break-even, so Studio's direct revenue is delayed.

143
Free individual users
3%
Converted
~4
Paying, implied
SN44 Score — @webuildscore 7 Oct 10:31 UTC (62 likes)

Correction

1 · circulating this week
Tier B Chain read

The $1.5M SN51 buy was a stake from an unidentified wallet, not a Lium buyback-and-burn

The 5,000 TAO Lium buy on 6 October that X read as a revenue buyback (example) was a stake through TAO.com's validator for 51,465 alpha by an unknown wallet (5G6veV…EABf), not Lium's owner or burn key; no burn followed (block 9,226,276; first post, Backprop).

5,000 τ
Staked
51,465
Alpha received
0
Alpha burned
SN51 Lium — @tseutseutao · @rBryer23 · @BackpropFinance; chain, 6 Oct

Partnership

3
Tier B Team account

TPN (SN65) now rents GPUs from Lium (SN51) next to RunPod

Each TPN Bench request checks price and availability on both and runs on the cheaper one (7 Oct).

SN65 TPN · SN51 Lium — @TPN_Labs
Tier B Counterparty's account

Zeno is integrating Numinous (SN6) forecasts as training data

Zeno calls the panel of 300+ forecasters on the same markets "the richest panel structure we've seen" (6 Oct).

300+
Forecasters per market
SN6 Numinous — @zenoVision_
Tier B Team account

Dendrite backs Const's Gamma-token plan for subnets to buy from each other

Dendrite (SOMA, SN114) says it supports the cross-subnet usage credits Const presented at Exploit, with SOMA used as the example (6 Oct).

SN114 SOMA — @DendriteHQ

Revenue & traction

6
Tier B Customer's account; growth claim single-source

Engy (SN53) now serves ~70% of Albedo's judge calls, about 1B tokens a day

Albedo (SN97) says that is five times the previous week's volume (7 Oct). Separately, @AlgodTrading claims 100% month-on-month revenue growth and 4–5B Kimi K3 tokens a day (6 Oct); his tie to the team is unconfirmed.

~1B
Albedo tokens/day
5×
Week on week
100%
MoM revenue, claimed
SN53 Engy — @albedo_wthrboss · @AlgodTrading
Tier B Third-party only

RedTeam (SN61) reportedly plans larger buybacks funded from its raise

A commentator reports larger initial buybacks before the regular script resumes, with about 10% of raise proceeds to immediate buybacks under consideration (6 Oct). RedTeam has not posted since 4 October.

~10%
Of raise, explored
SN61 RedTeam — @Cats_CR
Tier B Founder, no figures

Leadpoet (SN71) says September sales doubled

The October goal is to double again (6 Oct).

2×
Sept sales
SN71 Leadpoet — @gavinzaentz, reposted by @LeadpoetAI
Tier B Team account

Ditto (SN118) weekly numbers to 4 October

136 weekly active users and 51 sign-ups in the week (6 Oct).

136
Weekly active
+14.3%
WAU change
51
Sign-ups
500,411
Memories
SN118 Ditto — @heydittoai
Tier B Team account

CookingTao (SN122) publishes revenue and buyback data live

Buybacks have not started; the target is more than half of revenue (6 Oct).

>50%
Buyback target
SN122 CookingTao — @CookingTao_
Tier B Third-party account of a talk

Green Compute (SN110): next UK site could add ~$300k a month

A write-up of its Exploit talk says part of enterprise revenue goes to SN110 buybacks (6 Oct). The $3M and $4M sites were reported last week.

~$300k
Per month, projected
SN110 Green Compute — @bitrebelution

Product

7
Tier B Team account

Actual (SN95) releases toks, a source-available tokenizer

It matches Hugging Face tokenizers' output and is 13–151× faster on one CPU core (team benchmark). It is free below a quadrillion tokens a year, with a paid licence above that (6 Oct, 503 likes).

13–151×
Faster than HF
BUSL 1.1
Licence
SN95 Actual — @actualinc
Tier B Team account

IOTA (SN9) extends its SDK to fine-tuning, RL and inference

Same distributed compute as pretraining; early-access sign-up only (6 Oct).

SN9 IOTA — @MacrocosmosAI
Tier B Team account

Say GM (SN28) pays referrers in alpha

Up to 100% of a referred developer's first 30 days of spend (6 Oct). The OpenRouter bill match was re-promoted.

100%
Max referral payout
SN28 Say GM — @say_gm_
Tier B Third-party

ChipForge (SN108) NPU challenge goes live

In six hours, 18 miners submitted 28 scored chip designs and the bar rose from 50 to 1,212. The subnet stopped burning emissions once a miner began earning (6 Oct).

18
Miners
50 → 1,212
Bar in 6 h
SN108 ChipForge — @_joncipher
Tier B Team account

Cascade (SN91) ensemble tops the TIME forecasting leaderboard

Ranked first on CRPS and MASE against 18 single forecasting models (6 Oct).

SN91 Cascade — @cascade_sn91
Tier B Team account

Endure (SN30) mainnet, widely amplified

Reported yesterday (6 Oct).

SN30 Endure — @EndureNet
Tier B Team account

Bitcast (SN93) adds a fourth creator application

Subnet Summer's education layer runs on SN93 (6 Oct).

4
Creator apps
SN93 Bitcast — @Bitcast_network

Research

1
Tier B Team account

Conjectures (SN66) miners disprove Erdős Problem 579

Open since at least 1983; proof verified in Lean (6 Oct).

SN66 Conjectures — @conjectures_io (147 likes)

Protocol & governance

3
Tier B GitHub PR

Open subtensor PR proposes new pool curves and subnet lending

PR #3211 moves subnet pools to a superellipse curve and puts the unreachable alpha and TAO floors into lending vaults at 25% initial LTV and 100% annual interest (PR, 5 Oct). Not merged.

25%
Initial LTV
100%
Annual interest
opentensor/subtensor — unarbos
Tier B Third-party code reads

Runtime 473 adds a dust floor to basket swaps; 474 adds optional free registration

A 0.5 TAO floor stops small validators rebalancing baskets (6 Oct). Spec 474, not yet live, lets owners allow proof-of-work registration (6 Oct). Mechanisms per subnet reportedly rose from 2 to 8 (7 Oct).

0.5 τ
Swap floor
2 → 8
Mechanisms
@Investing88ai · @vaNlabs · @dougsillars
Tier B Chain feed

Quasar (SN24) faces an on-chain ownership takeover

A challenger holds 401.8k alpha against no defence and is about 27 days from taking the subnet (7 Oct).

401.8k α
Challenger
~27 days
To takeover
SN24 Quasar — @subnetradarcom

Positioning

1
Tier B Manager's own report

Yuma's subnet fund beat TAO in Q3

Up 52.5% in Q3 against TAO's 48.0%, and up 30.2% since launch while TAO is down 3.9% (6 Oct). Yuma credits about 35% annual yield from emissions (6 Oct).

+52.5%
Fund, Q3
+48.0%
TAO, Q3
+30.2%
Since launch
~35%
Emission yield
Yuma Subnet Composite Fund — @YumaGroup · @GSchvey