With the amount of new subnets being added it can be hard to get up to date information across all subnets, so data may be slightly out of date from time to time
With the amount of new subnets being added it can be hard to get up to date information across all subnets, so data may be slightly out of date from time to time
Swap (Bittensor Subnet-10) is a cross-chain DeFi platform that lets users seamlessly buy and sell Bittensor subnet tokens from other blockchains (like Base or Ethereum) in a single transaction. In essence, it bridges liquidity from mainstream chains into Bittensor’s decentralized AI network, making it much easier to acquire or exit “alpha” subnet tokens (which represent stake in specific AI subnets of Bittensor). Before Swap, obtaining these tokens was complex – one had to set up a Bittensor wallet, purchase and stake TAO (the native token) and manually interact with validators and subnets. TaoFi’s Swap simplifies this into a one-click experience, lowering the barrier for both AI agents and regular users to participate in Bittensor’s ecosystem.
This entire sequence is initiated in one user action (e.g. clicking “Swap” on TaoFi’s app) and typically completes within 1–2 minutes. The reverse direction (selling a subnet token) is just as simple: a user can swap a subnet’s token back to TAO, then to USDC and receive it on Base in one go.
Importantly, users retain custody of their assets throughout. TaoFi uses Hyperlane Interchain Accounts to control a smart wallet on Bittensor EVM on the user’s behalf. Your MetaMask (or other wallet) effectively “remote-controls” a Bittensor address, so you receive the actual subnet tokens in that address, which TaoFi’s interface displays for you. There are no new wrapped tokens introduced – you’re accessing the existing liquidity and tokens on Bittensor directly, which avoids the fragmented liquidity issues typical of cross-chain bridges.
Swap (Bittensor Subnet-10) is a cross-chain DeFi platform that lets users seamlessly buy and sell Bittensor subnet tokens from other blockchains (like Base or Ethereum) in a single transaction. In essence, it bridges liquidity from mainstream chains into Bittensor’s decentralized AI network, making it much easier to acquire or exit “alpha” subnet tokens (which represent stake in specific AI subnets of Bittensor). Before Swap, obtaining these tokens was complex – one had to set up a Bittensor wallet, purchase and stake TAO (the native token) and manually interact with validators and subnets. TaoFi’s Swap simplifies this into a one-click experience, lowering the barrier for both AI agents and regular users to participate in Bittensor’s ecosystem.
This entire sequence is initiated in one user action (e.g. clicking “Swap” on TaoFi’s app) and typically completes within 1–2 minutes. The reverse direction (selling a subnet token) is just as simple: a user can swap a subnet’s token back to TAO, then to USDC and receive it on Base in one go.
Importantly, users retain custody of their assets throughout. TaoFi uses Hyperlane Interchain Accounts to control a smart wallet on Bittensor EVM on the user’s behalf. Your MetaMask (or other wallet) effectively “remote-controls” a Bittensor address, so you receive the actual subnet tokens in that address, which TaoFi’s interface displays for you. There are no new wrapped tokens introduced – you’re accessing the existing liquidity and tokens on Bittensor directly, which avoids the fragmented liquidity issues typical of cross-chain bridges.
All swaps executed via TaoFi’s official interface incur a modest 0.1% swap fee. (Notably, users can eliminate this fee by using referral links, as TaoFi gives 100% of the fee to the referrer in those cases.) Aside from that, the underlying Uniswap v3 pool charges the standard 0.3% trading fee on the TAO/USDC swap step, which goes entirely to liquidity providers.
A key feature of Swap is that any subnet tokens purchased via TaoFi begin accruing their native staking yield immediately. In Bittensor, holding a subnet’s token is akin to having a stake in that AI subnet, earning rewards (often ~60–90% APR depending on the subnet) as the network emits new tokens. TaoFi automates this by auto-staking the subnet tokens you buy to a validator (by default, TaoFi stakes to the Sturdy Validator) so that your holdings rebase (increase) over time just as they would if you manually staked them on Bittensor. In other words, you don’t miss out on any AI mining rewards when using one-click Swap; your tokens are working for you as soon as you hold them.
Overall, Swap’s cross-chain functionality dramatically increases liquidity and accessibility for Bittensor’s ecosystem. By meeting users and AI agents on familiar chains (Ethereum Base, etc.) and abstracting away the complexity of Bittensor’s chain, TaoFi is bridging the gap between DeFi and decentralized AI. Now, anyone with a MetaMask wallet can easily invest in or divest from specific AI subnets (each like a “decentralized AI startup”) in a single step, whereas previously this was a guarded, multi-step process.
Swap (Subnet-10) is both a technical infrastructure and a liquidity hub within the Bittensor network, delivered by the TaoFi team. At its core, it consists of several integrated components:
Cross-Chain Bridge (Hyperlane-powered): TaoFi leverages Hyperlane’s Warp Routes and Interchain Accounts to handle the cross-chain messaging and bridging. Warp Routes allow bridging of assets like USDC from chains such as Ethereum and Base into Bittensor’s EVM, while Interchain Accounts enable a contract on Base to execute transactions on the Bittensor chain on the user’s behalf. This is what makes the single-tx swap possible – behind the scenes, a Base transaction triggers a sequence of actions on Bittensor. The design is open and extensible, meaning TaoFi can add support for more chains easily over time (Hyperlane connects 150+ networks).
Bittensor EVM and Uniswap v3 DEX: Bittensor introduced an EVM-compatible chain (often called Bittensor EVM) that allows smart contracts and DeFi primitives to run within the Bittensor ecosystem. TaoFi deployed a Uniswap V3 instance on this chain, launching a TAO–USDC liquidity pool. This pool is crucial – it provides the on-chain liquidity for swapping between TAO (the gateway token to all subnets) and stablecoin. The pool uses Uniswap v3’s concentrated liquidity model, letting liquidity providers allocate capital in specific price ranges for efficiency. For example, a provider could concentrate USDC liquidity in a certain TAO price band to act like a limit order. All Base-to-Bittensor swaps route through this TAO/USDC pool, making it a central liquidity conduit for the whole network. (Notably, by October 2025 this pool had facilitated over $50M in volume and $150k in fees, reflecting the high demand for Bittensor assets via TaoFi.)
Canonical Swap Precompile (Subnet Exchange): The final leg of the swap – converting TAO to a specific subnet’s token – is handled by Bittensor’s canonical chain logic. Bittensor’s runtime includes a special precompiled contract that allows swapping TAO for any subnet’s native “alpha” token (and vice versa) at the going network rate. In practice, this mechanism stakes the given TAO into the target subnet (increasing that subnet’s share of overall TAO, per Bittensor’s design) and returns newly minted subnet tokens to the user. The demand for a subnet’s token directly influences how much TAO that subnet earns from the network – so this swap mechanism not only gives users the token, but also signals demand to the Bittensor protocol, allocating more resources to popular subnets. TaoFi’s system essentially wraps this native swap functionality into the cross-chain flow, so users don’t interact with it directly, but benefit from getting the real subnet tokens minted/staked in their name.
Frontend DApp and API: TaoFi provides a web interface (taofi.com) and an API for third parties. Through this interface, a user connects their wallet (e.g. on Base) and initiates swaps or liquidity provision without needing any Bittensor-specific software. The dApp abstracts away technical details – it shows a simple swap UI, a “Pool” page for providing liquidity, a bridge interface, etc. Developers can also integrate TaoFi’s smart contracts or API directly to offer Bittensor swaps in their own apps. Notably, third-party integrators can choose custom settings (e.g. use a different validator for staking or charge a different fee), as TaoFi’s contracts are open and flexible.
Liquidity Mining Subnet (SN10 – “Swap” token): Bittensor Subnet-10 itself is a specialized “mining” subnet that incentivizes liquidity provision on the TAO/USDC pool. In Bittensor’s architecture, a “miner” is an AI agent or service provider that competes for rewards; in Subnet-10’s case, the “miners” are actually liquidity providers (LPs) contributing to TaoFi’s pool. The native token of SN10 is often referred to as the Swap token (SN10), and it is earned by LPs as a reward for boosting liquidity. Uniquely, SN10 miners are scored based on real usage – the amount of trading fees their liquidity position earned in the past 24 hours. In other words, the more your liquidity contributes to actual swaps (and generates fees), the more Swap tokens you “mine”. This mechanism aligns incentives with platform usage: unlike many yield farms that emit tokens on a fixed schedule, SN10’s emission is tied to genuine trading activity and demand. At launch, the yield for providing liquidity (and farming SN10) was extremely high (~650% APR), but this will taper as more liquidity enters and competition increases. SN10’s code (the subnet runtime and mining logic) is open-source under an MIT License, allowing anyone to audit or even run their own node (“miner” or validator) in the subnet. In fact, participants can set up Swap miners or validators by running the SN10 software (written in Python, following Bittensor’s subnet template) and joining the network to support the DEX infrastructure.
Auto-Staking and Yield Handling: As mentioned, any subnet tokens purchased via Swap are automatically staked to earn rewards. TaoFi currently stakes users’ tokens to a specific “Sturdy validator” node by default, which simplifies user experience (no need to choose a validator). The staking yields are paid in the subnet’s own token via a rebasing mechanism – i.e. your balance of that token increases periodically to reflect earned rewards. This is all handled by the backend; users simply see their token balance growing over time, equivalent to if they had manually delegated to a validator in that subnet. (Advanced users or third-party interfaces could in theory direct the stake to other validators of their choice by interacting with TaoFi’s contracts directly.)
In summary, the “Swap” product is a blend of cross-chain bridge tech, an on-chain DEX, and a novel Bittensor subnet that tokenizes DEX participation. It is the financial layer for decentralized AI services, providing both ease of entry (via swaps) and incentives for liquidity (via the SN10 token) to ensure Bittensor’s AI subnets have deep and accessible markets.
All swaps executed via TaoFi’s official interface incur a modest 0.1% swap fee. (Notably, users can eliminate this fee by using referral links, as TaoFi gives 100% of the fee to the referrer in those cases.) Aside from that, the underlying Uniswap v3 pool charges the standard 0.3% trading fee on the TAO/USDC swap step, which goes entirely to liquidity providers.
A key feature of Swap is that any subnet tokens purchased via TaoFi begin accruing their native staking yield immediately. In Bittensor, holding a subnet’s token is akin to having a stake in that AI subnet, earning rewards (often ~60–90% APR depending on the subnet) as the network emits new tokens. TaoFi automates this by auto-staking the subnet tokens you buy to a validator (by default, TaoFi stakes to the Sturdy Validator) so that your holdings rebase (increase) over time just as they would if you manually staked them on Bittensor. In other words, you don’t miss out on any AI mining rewards when using one-click Swap; your tokens are working for you as soon as you hold them.
Overall, Swap’s cross-chain functionality dramatically increases liquidity and accessibility for Bittensor’s ecosystem. By meeting users and AI agents on familiar chains (Ethereum Base, etc.) and abstracting away the complexity of Bittensor’s chain, TaoFi is bridging the gap between DeFi and decentralized AI. Now, anyone with a MetaMask wallet can easily invest in or divest from specific AI subnets (each like a “decentralized AI startup”) in a single step, whereas previously this was a guarded, multi-step process.
Swap (Subnet-10) is both a technical infrastructure and a liquidity hub within the Bittensor network, delivered by the TaoFi team. At its core, it consists of several integrated components:
Cross-Chain Bridge (Hyperlane-powered): TaoFi leverages Hyperlane’s Warp Routes and Interchain Accounts to handle the cross-chain messaging and bridging. Warp Routes allow bridging of assets like USDC from chains such as Ethereum and Base into Bittensor’s EVM, while Interchain Accounts enable a contract on Base to execute transactions on the Bittensor chain on the user’s behalf. This is what makes the single-tx swap possible – behind the scenes, a Base transaction triggers a sequence of actions on Bittensor. The design is open and extensible, meaning TaoFi can add support for more chains easily over time (Hyperlane connects 150+ networks).
Bittensor EVM and Uniswap v3 DEX: Bittensor introduced an EVM-compatible chain (often called Bittensor EVM) that allows smart contracts and DeFi primitives to run within the Bittensor ecosystem. TaoFi deployed a Uniswap V3 instance on this chain, launching a TAO–USDC liquidity pool. This pool is crucial – it provides the on-chain liquidity for swapping between TAO (the gateway token to all subnets) and stablecoin. The pool uses Uniswap v3’s concentrated liquidity model, letting liquidity providers allocate capital in specific price ranges for efficiency. For example, a provider could concentrate USDC liquidity in a certain TAO price band to act like a limit order. All Base-to-Bittensor swaps route through this TAO/USDC pool, making it a central liquidity conduit for the whole network. (Notably, by October 2025 this pool had facilitated over $50M in volume and $150k in fees, reflecting the high demand for Bittensor assets via TaoFi.)
Canonical Swap Precompile (Subnet Exchange): The final leg of the swap – converting TAO to a specific subnet’s token – is handled by Bittensor’s canonical chain logic. Bittensor’s runtime includes a special precompiled contract that allows swapping TAO for any subnet’s native “alpha” token (and vice versa) at the going network rate. In practice, this mechanism stakes the given TAO into the target subnet (increasing that subnet’s share of overall TAO, per Bittensor’s design) and returns newly minted subnet tokens to the user. The demand for a subnet’s token directly influences how much TAO that subnet earns from the network – so this swap mechanism not only gives users the token, but also signals demand to the Bittensor protocol, allocating more resources to popular subnets. TaoFi’s system essentially wraps this native swap functionality into the cross-chain flow, so users don’t interact with it directly, but benefit from getting the real subnet tokens minted/staked in their name.
Frontend DApp and API: TaoFi provides a web interface (taofi.com) and an API for third parties. Through this interface, a user connects their wallet (e.g. on Base) and initiates swaps or liquidity provision without needing any Bittensor-specific software. The dApp abstracts away technical details – it shows a simple swap UI, a “Pool” page for providing liquidity, a bridge interface, etc. Developers can also integrate TaoFi’s smart contracts or API directly to offer Bittensor swaps in their own apps. Notably, third-party integrators can choose custom settings (e.g. use a different validator for staking or charge a different fee), as TaoFi’s contracts are open and flexible.
Liquidity Mining Subnet (SN10 – “Swap” token): Bittensor Subnet-10 itself is a specialized “mining” subnet that incentivizes liquidity provision on the TAO/USDC pool. In Bittensor’s architecture, a “miner” is an AI agent or service provider that competes for rewards; in Subnet-10’s case, the “miners” are actually liquidity providers (LPs) contributing to TaoFi’s pool. The native token of SN10 is often referred to as the Swap token (SN10), and it is earned by LPs as a reward for boosting liquidity. Uniquely, SN10 miners are scored based on real usage – the amount of trading fees their liquidity position earned in the past 24 hours. In other words, the more your liquidity contributes to actual swaps (and generates fees), the more Swap tokens you “mine”. This mechanism aligns incentives with platform usage: unlike many yield farms that emit tokens on a fixed schedule, SN10’s emission is tied to genuine trading activity and demand. At launch, the yield for providing liquidity (and farming SN10) was extremely high (~650% APR), but this will taper as more liquidity enters and competition increases. SN10’s code (the subnet runtime and mining logic) is open-source under an MIT License, allowing anyone to audit or even run their own node (“miner” or validator) in the subnet. In fact, participants can set up Swap miners or validators by running the SN10 software (written in Python, following Bittensor’s subnet template) and joining the network to support the DEX infrastructure.
Auto-Staking and Yield Handling: As mentioned, any subnet tokens purchased via Swap are automatically staked to earn rewards. TaoFi currently stakes users’ tokens to a specific “Sturdy validator” node by default, which simplifies user experience (no need to choose a validator). The staking yields are paid in the subnet’s own token via a rebasing mechanism – i.e. your balance of that token increases periodically to reflect earned rewards. This is all handled by the backend; users simply see their token balance growing over time, equivalent to if they had manually delegated to a validator in that subnet. (Advanced users or third-party interfaces could in theory direct the stake to other validators of their choice by interacting with TaoFi’s contracts directly.)
In summary, the “Swap” product is a blend of cross-chain bridge tech, an on-chain DEX, and a novel Bittensor subnet that tokenizes DEX participation. It is the financial layer for decentralized AI services, providing both ease of entry (via swaps) and incentives for liquidity (via the SN10 token) to ensure Bittensor’s AI subnets have deep and accessible markets.
TaoFi’s Swap (Subnet-10) is built and operated by a team combining expertise from DeFi and the Bittensor AI community. The project was initiated by contributors from the Sturdy Finance protocol alongside core Bittensor developers. Notably, Sam Forman, the founder of Sturdy, is a key figure – he launched Sturdy in 2021 (a lending platform known for novel yield strategies) and later partnered with Bittensor’s community to create Subnet-10. Sturdy’s involvement brought deep DeFi know-how, enabling features like lending and stablecoins on Bittensor, while the Bittensor side provided the AI-network infrastructure.
Originally, Subnet-10 (SN10) was conceived as an AI-driven yield optimization subnet for Sturdy. In that role, SN10 had miners (AI models) competing to devise optimal lending allocation strategies, with validators ranking them – the winning strategies would then be executed to maximize Sturdy’s yields. This demonstrated SN10’s power to inject decentralized AI into DeFi decisions, and it attracted significant capital (at one point overseeing $175M in deposits). Building on that success, the team shifted focus to TaoFi – a broader suite of DeFi “primitives” on Bittensor, with Swap as the flagship product. In mid-2025, Sam Forman announced the re-branding of Subnet-10 as “Swap”, aligning its identity with the DEX/liquidity mission and introducing new tokenomics (more on that below).
The development team includes seasoned blockchain engineers and AI specialists. Besides Sam, other contributors from Sturdy and Bittensor are involved – for example, Syeam Bin Abdullah is credited in the codebase (MIT license) as a lead developer of the Swap subnet. The team operates in a decentralized fashion: the code is open-source, and anyone can run a node or contribute. Community members from Bittensor also support the project (for instance, Yuma – referenced in interviews as having helped provide resources for SN10’s creation – likely refers to early Bittensor backers who facilitated this collaboration).
Overall, TaoFi’s team combines DeFi innovators and AI network builders. They are behind not just Swap, but a growing suite of tools (e.g. a TAO stablecoin and liquid staking product) aimed at expanding Bittensor. The project is backed by the broader Bittensor community and operates with the ethos of decentralization: anyone can participate in the subnet or build on its APIs. The team’s dual background (traditional DeFi and AI blockchain) positions them uniquely to bridge these domains.
TaoFi’s Swap (Subnet-10) is built and operated by a team combining expertise from DeFi and the Bittensor AI community. The project was initiated by contributors from the Sturdy Finance protocol alongside core Bittensor developers. Notably, Sam Forman, the founder of Sturdy, is a key figure – he launched Sturdy in 2021 (a lending platform known for novel yield strategies) and later partnered with Bittensor’s community to create Subnet-10. Sturdy’s involvement brought deep DeFi know-how, enabling features like lending and stablecoins on Bittensor, while the Bittensor side provided the AI-network infrastructure.
Originally, Subnet-10 (SN10) was conceived as an AI-driven yield optimization subnet for Sturdy. In that role, SN10 had miners (AI models) competing to devise optimal lending allocation strategies, with validators ranking them – the winning strategies would then be executed to maximize Sturdy’s yields. This demonstrated SN10’s power to inject decentralized AI into DeFi decisions, and it attracted significant capital (at one point overseeing $175M in deposits). Building on that success, the team shifted focus to TaoFi – a broader suite of DeFi “primitives” on Bittensor, with Swap as the flagship product. In mid-2025, Sam Forman announced the re-branding of Subnet-10 as “Swap”, aligning its identity with the DEX/liquidity mission and introducing new tokenomics (more on that below).
The development team includes seasoned blockchain engineers and AI specialists. Besides Sam, other contributors from Sturdy and Bittensor are involved – for example, Syeam Bin Abdullah is credited in the codebase (MIT license) as a lead developer of the Swap subnet. The team operates in a decentralized fashion: the code is open-source, and anyone can run a node or contribute. Community members from Bittensor also support the project (for instance, Yuma – referenced in interviews as having helped provide resources for SN10’s creation – likely refers to early Bittensor backers who facilitated this collaboration).
Overall, TaoFi’s team combines DeFi innovators and AI network builders. They are behind not just Swap, but a growing suite of tools (e.g. a TAO stablecoin and liquid staking product) aimed at expanding Bittensor. The project is backed by the broader Bittensor community and operates with the ethos of decentralization: anyone can participate in the subnet or build on its APIs. The team’s dual background (traditional DeFi and AI blockchain) positions them uniquely to bridge these domains.
The Swap subnet and TaoFi platform have an ambitious roadmap to further integrate Bittensor with the wider crypto ecosystem and enhance the DeFi functionality available to Bittensor users. Key items on the roadmap include:
Multi-Chain Expansion: Having successfully launched on Base (an Ethereum L2), TaoFi plans to extend support to other chains. Support for Ethereum mainnet and Solana is in the works, allowing users on those chains to directly swap into Bittensor subnets using native assets (e.g. swapping SOL on Solana to a Bittensor token in one go). The Hyperlane framework powering the bridge is already multi-chain, so adding new routes is primarily about deployment and interface updates. This expansion will broaden Bittensor’s reach to many more users and liquidity sources. (In fact, TaoFi has advertised bringing Solana and Ethereum liquidity to Bittensor as a next step in 2025.)
New Trading Pairs & Liquidity Pools: Currently, the cornerstone pool is TAO/USDC on Bittensor EVM. Going forward, additional Uniswap v3 pools are expected to launch. This could include pairs between TAO and other major assets, or even direct subnet token pairs, to improve market efficiency. TaoFi also hints at releasing more tools for liquidity providers – for example, better analytics, automated range position managers, or even incentives for providing liquidity in certain ranges or new pools. All of this will help stabilize prices and tighten spreads for Bittensor assets as the ecosystem grows.
Enhanced Token Utility and Governance: The Swap (SN10) token is set to gain more utility over time. In mid-2025 the team activated a protocol fee (“fee switch”) on the DEX and introduced a buyback mechanism: 0.1% fees from TaoFi’s interface (and a portion of DEX trading fees) are accumulated to buy back $SWAP tokens from the market. The first buyback was executed in October 2025, using about $7k of fee revenue to purchase SN10, and such buybacks are expected to continue regularly as the platform’s volume grows (creating ongoing demand for the token). This model effectively ties the Swap token’s value to actual usage of the exchange – as trading volume and subnet adoption increase, more fees will funnel into buying SN10, benefiting its holders. In the future, the team may also introduce governance features for the Swap token, allowing holders to vote on fee parameters, referral programs, or which new pools and subnets to prioritize.
Broader DeFi Integration on Bittensor: Swap is one part of TaoFi’s roadmap to deliver “foundational DeFi primitives” on Bittensor. Upcoming or recently launched components include: a TAO-backed stablecoin (taoUSD), which uses a bridge to let users deposit USDC on Ethereum and mint a stable asset on Bittensor; a lending/borrowing platform where users can borrow against staked TAO (this is powered by Sturdy’s lending contracts, live as the “Borrow” feature on TaoFi); and liquid staking for TAO (sTAO) that allows TAO holders to stake and get a liquid token in return. These products complement Swap – for example, a user could acquire TAO via Swap and then use TaoFi’s borrow feature to take a loan, or provide liquidity and then leverage their LP tokens in future protocols. The combined roadmap aims to turn Bittensor into a full-fledged DeFi-enabled AI economy.
Continued Growth of Subnet Market: On the Bittensor side, more AI subnets continue to launch (there are over 120 subnets as of 2025). Swap will keep up with this growth by ensuring all new subnet tokens are accessible through the interface from day one. As new subnets (AI services) come online, TaoFi will add them to the Swap UI, likely prioritize liquidity for those gaining traction. The team also plans to improve the user experience for discovering and comparing subnets on the platform – e.g., showing APRs (yields) for each, volumes, descriptions of the AI services, etc., so that users can make informed decisions on which “AI project” to invest in.
In summary, the roadmap for Subnet-10 “Swap” is focused on deepening liquidity and utility: connecting to more chains (to onboard users), rolling out more DeFi features (to increase usage of TAO and subnet tokens), and strengthening the value proposition of the $SWAP token through fee capture and governance. By executing on these plans, TaoFi’s Swap aims to become the central exchange hub for Bittensor’s AI economy, driving both the growth of AI subnet markets and rewarding those who support its liquidity. The progress so far (high trading volumes, active liquidity mining, and new features like borrowing coming online) suggests a robust trajectory, with much more to come as decentralized AI and DeFi converge.
The Swap subnet and TaoFi platform have an ambitious roadmap to further integrate Bittensor with the wider crypto ecosystem and enhance the DeFi functionality available to Bittensor users. Key items on the roadmap include:
Multi-Chain Expansion: Having successfully launched on Base (an Ethereum L2), TaoFi plans to extend support to other chains. Support for Ethereum mainnet and Solana is in the works, allowing users on those chains to directly swap into Bittensor subnets using native assets (e.g. swapping SOL on Solana to a Bittensor token in one go). The Hyperlane framework powering the bridge is already multi-chain, so adding new routes is primarily about deployment and interface updates. This expansion will broaden Bittensor’s reach to many more users and liquidity sources. (In fact, TaoFi has advertised bringing Solana and Ethereum liquidity to Bittensor as a next step in 2025.)
New Trading Pairs & Liquidity Pools: Currently, the cornerstone pool is TAO/USDC on Bittensor EVM. Going forward, additional Uniswap v3 pools are expected to launch. This could include pairs between TAO and other major assets, or even direct subnet token pairs, to improve market efficiency. TaoFi also hints at releasing more tools for liquidity providers – for example, better analytics, automated range position managers, or even incentives for providing liquidity in certain ranges or new pools. All of this will help stabilize prices and tighten spreads for Bittensor assets as the ecosystem grows.
Enhanced Token Utility and Governance: The Swap (SN10) token is set to gain more utility over time. In mid-2025 the team activated a protocol fee (“fee switch”) on the DEX and introduced a buyback mechanism: 0.1% fees from TaoFi’s interface (and a portion of DEX trading fees) are accumulated to buy back $SWAP tokens from the market. The first buyback was executed in October 2025, using about $7k of fee revenue to purchase SN10, and such buybacks are expected to continue regularly as the platform’s volume grows (creating ongoing demand for the token). This model effectively ties the Swap token’s value to actual usage of the exchange – as trading volume and subnet adoption increase, more fees will funnel into buying SN10, benefiting its holders. In the future, the team may also introduce governance features for the Swap token, allowing holders to vote on fee parameters, referral programs, or which new pools and subnets to prioritize.
Broader DeFi Integration on Bittensor: Swap is one part of TaoFi’s roadmap to deliver “foundational DeFi primitives” on Bittensor. Upcoming or recently launched components include: a TAO-backed stablecoin (taoUSD), which uses a bridge to let users deposit USDC on Ethereum and mint a stable asset on Bittensor; a lending/borrowing platform where users can borrow against staked TAO (this is powered by Sturdy’s lending contracts, live as the “Borrow” feature on TaoFi); and liquid staking for TAO (sTAO) that allows TAO holders to stake and get a liquid token in return. These products complement Swap – for example, a user could acquire TAO via Swap and then use TaoFi’s borrow feature to take a loan, or provide liquidity and then leverage their LP tokens in future protocols. The combined roadmap aims to turn Bittensor into a full-fledged DeFi-enabled AI economy.
Continued Growth of Subnet Market: On the Bittensor side, more AI subnets continue to launch (there are over 120 subnets as of 2025). Swap will keep up with this growth by ensuring all new subnet tokens are accessible through the interface from day one. As new subnets (AI services) come online, TaoFi will add them to the Swap UI, likely prioritize liquidity for those gaining traction. The team also plans to improve the user experience for discovering and comparing subnets on the platform – e.g., showing APRs (yields) for each, volumes, descriptions of the AI services, etc., so that users can make informed decisions on which “AI project” to invest in.
In summary, the roadmap for Subnet-10 “Swap” is focused on deepening liquidity and utility: connecting to more chains (to onboard users), rolling out more DeFi features (to increase usage of TAO and subnet tokens), and strengthening the value proposition of the $SWAP token through fee capture and governance. By executing on these plans, TaoFi’s Swap aims to become the central exchange hub for Bittensor’s AI economy, driving both the growth of AI subnet markets and rewarding those who support its liquidity. The progress so far (high trading volumes, active liquidity mining, and new features like borrowing coming online) suggests a robust trajectory, with much more to come as decentralized AI and DeFi converge.
A big thank you to Tao Stats for producing these insightful videos in the Novelty Search series. We appreciate the opportunity to dive deep into the groundbreaking work being done by Subnets within Bittensor! Check out some of their other videos HERE.
In this session, the team behind the SN10 subnet discusses the innovative yield optimization and allocation system they’ve built within the Bittensor ecosystem. The focus is on how SN10 automates the allocation of assets across various DeFi pools, enhancing the efficiency of fund distribution through a decentralized and crowdsourced approach. The team highlights the subnet’s ability to handle both organic requests (from real DeFi applications) and synthetic requests (for testing and training purposes), using advanced simulations and real-world data to optimize yields. They also touch on their partnerships with leading DeFi protocols like Moro and Gauntlet, and the roadmap for integrating EVM compatibility, improving the user interface, and expanding SN10’s capabilities into broader financial applications. This discussion provides valuable insights into the future of decentralized finance and how SN10 is shaping the landscape for optimized asset management.
Novelty Search is great, but for most investors trying to understand Bittensor, the technical depth is a wall, not a bridge. If we’re going to attract investment into this ecosystem then we need more people to understand it! That’s why Siam Kidd and Mark Creaser from DSV Fund have launched Revenue Search, where they ask the simple questions that investors want to know the answers to.
Mark & Siam clear the rumour mill: they have helped broker Subnet 71 for a new team (funding + intros + “stabilisers”), official comms coming from the team soon. Guest Sam (Subnet 10) then lays out SN10’s mission: kill the onboarding friction. Today, a typical newcomer wrestles with wallets, TAO, bridges, and hours of steps. SN10’s cross-chain swap fixes that.
TaoFi conducted a buyback of SN10 Swap tokens totaling $12.9k using trading fees from the previous week.
More users onboarded + growing trading fees + buybacks = flywheel acceleration.
Transaction:
6661609-... · Extrinsic · taostats
Explore the official Bittensor blockchain explorer at taostats.io, your trusted source for metagraph analytics, TAO toke...
taostats.io
1/ We’ve partnered with @wearetalisman for their $SEEK Whitelist giveaway for the Bittensor community, with 20 exclusive WL spots for the TaoFi community.
Enter the campaign and uncover what awaits TAO users by holding $SEEK, details below 👇
Talisman is now an official partner of TaoFi! @_taofi_
Connect to TaoFi using Talisman to swap and bridge Bittensor dTAO alpha tokens using USDC on Base.
TaoFi are opening the floodgates for TAO liquidity, now with seamless wallet UX.
(𝜏,φ)
@wearetalisman 2/ How to enter?
1. Complete the TaskOn quests
2. Fill in the Airtable form
https://tinyurl.com/BittensorWL
Competition ends October 18th, 22:00 UTC
Winners will be chosen at random from each WL.
Bonus:
Head to Talisman Quests to rack up points to unlock extra…
Bittensor Community $SEEK WL Giveaway
Talisman stands with the Bittensor ecosystem, bound by a shared vision of decentralization and autonomy. Enter the $...
taskon.xyz
The growth just won't stop.
ANOTHER record-breaking day for SN10!
Over $5m in swaps in the past 24 hours, racking up over $15k in fees.
Start earning >750% APR on $TAO/USDC today at http://TaoFi.com/pool
TaoFi has executed its first SN10 Swap buyback using $7,058 in fees from subnet trading.
Increased volume ➡️ more liquidity ➡️ higher yields ➡️ increased volume.
The TaoFi flywheel is spinning.
Transaction:
6611494-... · Extrinsic · taostats
Explore the official Bittensor blockchain explorer at taostats.io, your trusted source for metagraph analytics, TAO toke...
taostats.io
TaoFi’s $TAO/USDC pool has exceeded $50,000,000 in volume and $150,000 in fees!
All subnet token swaps from Base route through the pool, making it the first step for new entrants to Bittensor.
And with fees being used to buy SN10 Swap tokens, more volume = more SN10 bought.
TaoFi’s $TAO/USDC pool has exceeded $50,000,000 in volume and $150,000 in fees!
All subnet token swaps from Base route through the pool, making it the first step for new entrants to Bittensor.
And with fees being used to buy SN10 Swap tokens, more volume = more SN10 bought.
