Matt

With regards to $TAO dTAO subnet tokens, it’s really important to understand that, even though some of them have run a good amount, is the following: 1) Their market caps, EVEN for chutes, are still very low. If you’re a crypto veteran, then you know that a $100mm market cap is still considered EARLY on a good project. Many of you own $TAO and I can guarantee that the large majority of you bought it way higher than a 100mm mkt cap. I started buying TAO at a $180mm-$200mm mkt cap. And I felt like it was a STEAL. 2) This rally hasn’t been broad based. It’s largely been driven by Chutes, Gradients, Nova, Targon, and a select few others. Most subnet tokens are still sub $10mm mkt cap and many are under a $5mm mkt cap and have yet to truly break out. Don’t fool yourself into thinking there are only 5-7 really great subnets that are worth buying. So many subnets are doing great work, building useful and revolutionary AI tools and services, and spending lots of time building in public and communicating with the TAO community. It’s not 5-7 subnets that make Bittensor revolutionary. It’s going to be hundreds and then thousands of subnets, and the way they interact with and feed off each other that make it revolutionary. 3) We’re not even a full 90 days into this ecosystem being live. May 14 marks 90 days. If you think there is no more opportunity left bc it’s run a lot already, you are going to be very upset when the train TRULY leaves the station after this correction and breather period. We are going so much higher. 4) TAO is currently sitting at a paltry $2.9bb mkt cap. This is a $100bb mkt cap project minimum in the next 1-3 years. The more interest and exposure $TAO gets, the more people buy TAO. The more people by TAO, the more they will start to get exposure to the ecosystem and the subnets. Eventually, that TAO will flow into subnets. They probably will be a lag time between when people buy TAO and when they start to invest in subnet tokens because it takes a little while to wrap your head around the whole thing. But it’s coming and I’ll tell you why I know this for sure: Because greed knows no bounds. And the more people start to understand the opportunity there is in these subnet tokens at such low market caps, the more they will be willing to risk it for the biscuit. That’s just the way greed works. Couple that with M2 rising exponentially rt now, an improving landscape across risk assets and bitcoin starting to fly as well as other alt coins starting to fly, and confidence will come back to the market. There’s no way in hell that that confidence and sidelined cash is not going to find its way into the subnet ecosystem. Look at what pump.fun accomplished with absolute garbage scam tokens? Billions were pumped into that garbage. You don’t think that the best decentralized AI competitor to OpenAI, AWS and Google is going to be able to draw attention from the greater crypto markets and even institutional money as a he word keeps getting out? This is the most obvious play since bitcoin was launched in 2009. If you’re scared off by dips in the subnet tokens, it’s likely because you don’t fully understand what this ecosystem is and what’s coming. Know what you hold. When you know what you hold, dips are for buying, not panicking. The more we dip, the more I will buy.