TaoFi, a decentralized finance (DeFi) protocol operating on Bittensor’s Subnet 10, achieved a new milestone with $2.03 million in 24-hour trading volume, generating $6,080 in fees through its decentralized exchange (DEX) bridge.
The platform facilitates swaps between Base and Bittensor assets, focusing on TAO subnet tokens. Liquidity providers in the TAO/USDC pool are currently earning a 649% annual percentage rate (APR), combining organic yields with incentives from SN10 tokens—highlighting the high-risk, high-reward nature of DeFi in the AI sector.
Fees from the protocol will fund buybacks of Swap tokens once the fee switch is activated, aimed at boosting subnet value and easing user onboarding. This development comes amid Bittensor’s expanding ecosystem, which incentivizes machine learning through blockchain.
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