Honest question for the community:
Does the Covenant departure make you more or less confident in $TAO long-term? Drop your take below.
Genuinely want to hear from all sides.
Leaving aside Sam Dare’s behaviour, Covenant’s rug-pull departure exposes one of the misaligned incentives in Bittensor: the fact that, as a subnet owner, it’s very hard to exit.
Divesting your token drives down price and angers holders. Selling equity to investors doesn’t work either, because sooner or later they’ll want to exit too.
If the alternative is running your subnet in perpetuity – with all the risks and demands that entails – then a rug-pull exit will always be a tempting option.
Voluntary dereg, where root buys out alpha and SN ownership at a fixed rate, would give subnet teams an honourable way out.
But even then, someone like Sam Dare might rug anyway. Some people just want to watch the world burn – even if it’s their own.
TAO ecosystem has all it takes to take it from there. Covenant can go, Bittensor always thrives.
Its an entity which was contributing Tao. Templar isnt Tao, there are several SNs which are contributing well on the network so in the longterm it wont impact us. As covenant LLM was no where 1% to the other open source LLMs, just a chatbot. I would want more SNs bring their own decentralized LLms.
1. Ensure to have the tokens locked so rugpulls dont happen on the network, its time to learn from our mistakes.
2. Bring up new Agentic Ai and we need solutions to the existing problems in Finance.
Initially I was worried as Templar helped put Tao on the market. The more I educated myself on what happened the more I think Sam was a selfish a**. My confidence has been renewed and I have been buying the dip aggressively.
