TAO, Bittensor’s birthmark, fell by double digits on Thursday after AI Alliance announced it would leave the network due to concerns about centralization and governance.
CoinGecko data shows that TAO has dropped by 15% from $337 to $284 following the AI Agreement. to announce. The token was trading at $292 at press time, down 9% in the past 24 hours.
The AI Alliance, which built a large prototype of the Alliance-72B using donors, says the control systems of the Bittensor network are not fully distributed.
The group said that key decision-making and management practices remain entrenched among a minority of activists despite the network’s policy of decentralization.
The AI Alliance criticized Jacob Steeves, founder of Bittensor, for controlling large parts of the Internet.
“These actions include the suspension of air supply to our smaller units, the removal of our capacity for our community transportation, the gradual degradation of our infrastructure, and the financial stress exerted through large, conspicuous sales that occur during wartime,” the group said.
The AI agreement stated that it would not continue to build on Bittensor under these conditions and that it would continue research and development offline.
“Certified, unlicensed AI learning is not Bittensor’s product. It is a technology that our team wants to advance. Our research, our team, our models, and our vision go with us,” the team added. “We have exciting projects and news in the works and will share announcements with the public soon.”
“This will ensure the release of the first subnets on Bittensor that are headless and virtual,” said Steeves in response to claims of centralization within Bittensor.
TAO jumped nearly 90% in March, while subnet tokens, mechanically linked to TAO through independent market makers, posted returns as high as 400%.
The meeting was sponsored by Subnet 3’s Covenant-72B version. High profile acceptable from Jensen Huang and Chamath Palihapitiya added to Bittensor’s credibility, strengthening investors’ confidence in the environment.
