Chutes (SN64)
Unlock Schedule
Chutes (SN64) Token Unlock & Vesting Schedule
The unlock chart above provides a clear visual overview of the Chutes (SN64) token release schedule, showing when and how tokens enter circulation across investor, team, treasury, and community allocations. Understanding these tokenomics dynamics is critical for evaluating potential supply pressure, inflation impact, and market liquidity over time — key factors that can influence SN64 price performance.
Each color segment in the chart corresponds to a specific allocation group described in the Allocations section below. Underlying assumptions and data models used to reconstruct this schedule are explained in detail under Assumptions, while broader utility insights and token use cases are covered in Tokenomics & Utility.
Tokenomics & Utility
Subnet tokens on Bittensor
In Bittensor’s Dynamic TAO design, each subnet has a native asset—often called an “alpha” token—that represents stake in that subnet’s pool. Users stake TAO (the Bittensor L1 token) into a subnet’s automated market maker (AMM) pool and receive the subnet’s token in return. When they exit, the process reverses. Price and supply respond to the TAO/alpha reserve ratio in each pool, and alpha stake influences validator weight and reward share in that subnet. For Chutes, the alpha token is SN64. (docs.learnbittensor.org)
Supply and issuance
Subnet tokens commonly mirror Bittensor’s convention of a capped supply; public listings and ecosystem dashboards reflect SN64 with a maximum supply set at 21 million. New tokens enter circulation as users stake TAO into the subnet’s pool, and tokens can be retired when users redeem back to TAO. This mint‑and‑burn dynamic is integral to the AMM design and enables permissionless entry and exit without centralized custodians. (coingecko.com)
What SN64 is for
Within the subnet, SN64 is primarily an instrument of alignment:
- It measures stake in Subnet 64’s pool and, by extension, a holder’s exposure to the subnet’s performance.
- It affects validator weight and the flow of emissions inside Chutes, shaping how rewards are allocated to the highest‑performing miners. (docs.learnbittensor.org)
At the application layer, end‑users of the Chutes Chat, Studio, or API typically interact with a familiar web experience; billing can occur off‑chain via the platform’s account system, while the on‑chain token underpins incentives and network security. This separation allows enterprises to pay for compute through standard invoices while the subnet token maintains decentralized economics under the hood. (chutes.ai)
Assumptions
- SN64 genesis date approximated as 2025-01-14.
Earliest credible public reference of SN64 (Chutes) activity; exact on-chain activation not explicitly published. Unlock timelines anchored to this date; amounts per halving remain correct regardless of slight date shifts.
- Alpha emission mechanics: initial total alpha issuance ~2 per block (≈1 alpha_in to pool, 1 alpha_out to participants), halving schedule to 21M cap.
Bittensor Dynamic TAO design caps subnet alpha at 21M with halving; alpha_out equals emission rate; alpha_in capped by value parity to TAO and at most equal to alpha_out. This yields ~2/block pre-first-halving and ~1/block post-first-halving total issuance.
- Alpha_out monthly unlock amounts modeled as linear within each halving period; period boundaries estimated using 12s block time.
On-chain tempo/issuance is block-based; converting to monthly requires linearization. Actual boundary dates shift due to TAO halving and per-subnet alpha_in dynamics.
- Pool → circulation releases estimated only up to 2025-10-25; no forward projection.
Swaps depend on market behavior; we infer realized releases from outstanding supply data (CoinGecko) minus modeled alpha_out minted to date.
- No premine, private sale, team/investor genesis allocations modeled.
Subnet alpha currencies are minted by protocol emission; subnet pools initialize with 1 alpha and 1 TAO but that alpha is in reserve and not circulating until swapped.
- 1. https://docs.bittensor.com/emissions
- 2. https://docs.learnbittensor.org/dynamic-tao/dtao-faq
- 3. https://docs.taostats.io/docs/halving
- 4. https://docs.taostats.io/docs/subnet-emissions
- 5. https://docs.learnbittensor.org/learn/emissions
- 6. https://docs.chutes.ai/
- 7. https://www.coingecko.com/en/coins/chutes
- 8. https://taostats.io/subnets/64/distribution
- 9. https://www.tao.app/subnet/64
- 10. https://www.reddit.com/r/bittensor_/comments/1i0szoo
Allocations
Description
#260
Chutes AI is a decentralized compute platform that lets developers deploy and run large language models on distributed graphics processing unit networks without managing servers. Built on Bittensor's infrastructure, it uses pay-per-use pricing where contributors provide computing power and earn rewards.
| Sector: | AI Agents |
| Blockchain: | Bittensor |