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Overview
Hippius is a distributed cloud platform built around Bittensor Subnet 75, often shortened to SN75. It offers file storage, virtual machines, and tools for hosting AI models. Its storage network uses independent operators, called miners, to hold pieces of users’ files. A separate Hippius blockchain records key network activity, including storage placement and rewards. This gives developers a way to use familiar cloud tools while participating in a system linked to Bittensor. (docs.hippius.com)
“SN75” identifies Hippius’s Bittensor subnet. Its subnet asset is commonly called alpha. When alpha moves to the Hippius chain through the project’s bridge, it becomes hAlpha. Understanding that link is central to understanding the token: Bittensor provides the subnet asset, while Hippius uses its own chain to support payments, staking, and rewards tied to cloud services. (hippius.com)
Price, Market Position, and Liquidity
As of 11/10/2026 23:00 UTC, Hippius (SN75) trades at $3.67 with a -3.65% move over the last 24 hours.
The market capitalization stands at $20M, placing it at rank #817 by market value.
Daily trading volume is $6.5K. Hippius (SN75) has moved -11.30% over the past seven days and -27.60% across the last 30 days.
History & Team
From subnet to cloud platform
Hippius launched its Bittensor subnet on March 11, 2025. An early project account described a team working on storage, miner incentives, and file management. Hippius later identified The Nerve Lab as the group that built the platform. Its product range grew from decentralized storage toward a broader cloud offering that includes Hippius Drive and a registry for AI models and software containers. (community.hippius.com)
Several changes in 2026 shaped the current token model. Hippius introduced its alpha-to-hAlpha bridge in August, then moved miner reward payments onto the Hippius chain. It also launched Drive for everyday files and a referral program that pays commissions in hAlpha. These steps connected more of the platform’s services and rewards to its own blockchain. (hippius.com)
Technology & How It Works
Storing a file across miners
Hippius’s storage system is called Arion. A user can upload a file through the web console or an S3-compatible application. S3 is a widely used set of commands for storing and retrieving files in the cloud, so developers can use tools such as boto3, the AWS command-line interface, or rclone. The upload passes through a gateway to a validator, which prepares the file for storage across miners. (docs.hippius.com)
Arion uses a method called erasure coding to split a file into 30 pieces, or shards: 10 data shards and 20 extra shards. Any 10 of the 30 can rebuild the file. A placement system called CRUSH spreads those pieces among different miners. If a miner goes offline, the system can use remaining shards to rebuild and place the missing piece elsewhere. This approach makes recovery depend on the wider network rather than one storage machine. (docs.hippius.com)
Miners hold encrypted file pieces. Hippius also describes a proof-of-storage system called Ziggy: auditors challenge miners to show that they still hold specific data, and the miners answer with cryptographic proofs. The proof can be checked without sending the file contents to the auditor. These checks help the network measure whether storage providers are doing the work they claim to do. (docs.hippius.com)
Hippius runs a blockchain built with the Substrate framework. Validators use staking to help secure it, while the chain records information such as miner registration, storage placement, and rewards. Its block-production system is called BABE. The storage machines and the blockchain therefore have different jobs: miners keep and serve file pieces, while the chain provides a shared record for coordinating and rewarding that work. (docs.hippius.com)
Tokenomics & Utility
Alpha, hAlpha, and network rewards
Hippius uses the alpha asset of Bittensor Subnet 75 rather than introducing an unrelated subnet token. Its published economic model describes a launch without a premine and a maximum alpha supply of 21 million. On Bittensor, staking TAO into Subnet 75’s pool converts it into that subnet’s alpha stake. The Hippius bridge moves alpha to the project’s chain at a 1:1 ratio, where it is represented as hAlpha. Bridging back returns it to Bittensor as subnet stake. (hippius.com)
The asset has several roles. Storage miners receive hAlpha rewards linked to how much data they hold and how reliably they serve it. Users can stake hAlpha through the Hippius console, while network validators use staking to support the chain. The project’s documentation describes marketplace revenue being shared among miners, validators and stakers, and a treasury for development. Service payments can be made through the console using a card or Bittensor-related assets, allowing customers to use storage without first managing a crypto wallet. (hippius.com)
Hippius also connects hAlpha to referrals. Its referral program pays a commission when a referred customer pays for services, and records those payments on-chain. This creates another path by which use of the cloud platform can lead to token payouts. (hippius.com)
Ecosystem & Use Cases
Files, applications, and AI data
Hippius serves both people storing personal files and developers running applications. Hippius Drive provides file access across devices, with files encrypted on the user’s device before upload. S3-compatible storage suits websites, backups, application media, and datasets; it lets a team keep using familiar software while changing the storage provider behind it. The platform also offers virtual machines and confidential-computing services. (hippius.com)
Hippius Hub extends that storage role to AI development. It hosts AI models and software-container files that developers can upload or retrieve. Together, these products give Bittensor teams places to keep both the files their applications create and the software they run. (docs.hippius.com)
Hippius has published examples of teams using the service. Ditto describes storing user files and AI-agent records on Hippius, while Zapme Social uses its S3-compatible storage to hold and deliver content. These examples show uses beyond simply holding subnet tokens: the network’s storage is part of applications people interact with. (hippius.com)
Advantages & Challenges
Hippius combines distributed file placement with an S3-compatible interface. The first spreads storage work across miners; the second makes the service easier to fit into existing developer tools. Encryption limits what miners can read, while storage proofs and on-chain records give participants ways to check important parts of the network’s operation. The console also separates ordinary cloud use from the steps needed to hold or stake crypto assets. (docs.hippius.com)
That design also takes coordination. Validators must place and rebuild shards, auditors must check miners, and storage operators need suitable hardware and a dependable connection. Miners are rewarded for stored data and reliable service, so the system depends on those checks and incentives working together. For developers, connecting an S3 client is familiar, but running a storage miner or working across both Bittensor and the Hippius chain involves more specialized tools. (docs.hippius.com)
Where to Buy & Wallets
SN75 alpha is available through Bittensor’s Subnet 75 staking pool. Staking TAO into the subnet converts TAO into an alpha stake; removing that stake converts it back through the pool. Bittensor’s command-line tools support these operations, and its wallet directory lists options with staking features, including Crucible, Taostats Wallet, and Talisman. The subnet number matters because each Bittensor subnet has its own alpha position. (bittensor.com)
hAlpha is managed through the Hippius console. The console shows hAlpha balances, bridge activity, and staking status. A holder can bridge alpha from Bittensor to Hippius or move hAlpha back to Bittensor. People buying cloud services can instead sign in to the console and pay for service credits without holding SN75 alpha. (hippius.com)
Regulatory & Compliance
Hippius’s cloud service and its token activities meet different kinds of rules. The project’s terms require lawful use, and its acceptable-use policy covers stored content, copyright, and prohibited activity. Its privacy policy describes the collection of account, usage, and blockchain data. For organizations handling personal information in the European Union, data-protection rules also matter when information is transferred outside the European Economic Area. (hippius.com)
For crypto activity, the European Union’s Markets in Crypto-Assets regulation, or MiCA, sets a framework for crypto-asset issuers and service providers. In the United States, the IRS treats digital assets as property for federal tax purposes and addresses income from activities such as mining and staking. These are general rules relevant to activity around a token; they do not establish a token-specific legal classification for SN75. (finance.ec.europa.eu)
Hippius’s published product and token materials do not state a Shariah certification or formal halal ruling for SN75 alpha or hAlpha. Its storage fees, staking, miner rewards, and referral payments form different parts of the economic model, so the platform’s use as cloud storage alone does not establish the religious status of every token activity. (hippius.com)
Future Outlook
Hippius’s direction is to bring more cloud tasks into a shared distributed platform: everyday file storage, application storage, AI models, and computing. Its bridge and on-chain reward payments already connect Bittensor’s subnet asset to work performed on the Hippius network. Continued development of these products would make the link between service use and network participation easier to observe. (hippius.com)
The key measure of its role in the wider ecosystem is practical use: whether developers and organizations keep choosing its storage and computing services. Examples from AI and social applications show how Hippius can serve projects that need files available beyond a single application or provider. (hippius.com)
Summary
Hippius, or Bittensor Subnet 75, links a distributed cloud service with a subnet token. Its miners store encrypted file pieces, its validators and auditors coordinate and check that work, and its bridge brings SN75 alpha onto the Hippius chain as hAlpha. The project’s place in crypto rests on that connection between a working storage platform and incentives for the people who operate it. (docs.hippius.com)
Market Data
Tile coloring: Green indicates positive changes, red indicates negative changes, and neutral indicates no significant trend or unavailable data.
