Chutes
SN64
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
SN64 (Chutes) operates as Subnet 64 on the Bittensor network, providing a decentralized, serverless AI-compute and inference platform. Active development is relatively strong (7.5/10), evidenced by multi-repository codebase activity across SDK, miner, and validator repositories, alongside continuous documentation and version updates. Tokenomics (5.5/10) incorporate an 8.00% burn mechanism and usage-driven buyback loops, though direct transactional token demand is muted because platform payments settle in TAO, and supply reporting exhibits minor discrepancies. The market and use case (6.5/10) reflects a viable product in decentralized AI inference, but faces severe competition from both decentralized and centralized compute platforms and experiences thin liquidity. Governance (5.5/10) relies on a pseudonymous contributor collective without formal on-chain DAO mechanisms. Security (5.0/10) indicates a clean operational record with no documented hacks or exploits, but is constrained by the lack of published third-party smart contract audits and ongoing TEE deployment refinements. A data gap occurred in Community Support (-1.0), which was excluded from the weighted score calculation. No qualifying red-flag events were affirmatively established.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About Chutes (SN64)
SN64 is the native subnet token for Chutes, a decentralized, permissionless serverless AI compute and inference platform operating as Subnet 64 on the Bittensor network. The platform facilitates AI inference workloads using miner-provided compute and Trusted Execution Environments (TEEs), integrating programmatic payments and third-party developer APIs. Operational management is conducted by a pseudonymous collective under Chutes Global Corp rather than a formal on-chain decentralized autonomous organization (DAO).
The tokenomics of SN64 feature dynamic supply dynamics, linear vesting for liquidity pools, and an 8.00% burn mechanism. Platform revenue is utilized to fund a buyback-and-reward model for network miners and validators. Direct transactional demand for the SN64 token is constrained because end-user compute payments on the network are denominated in TAO. Out of a maximum supply of 21 million tokens, approximately 5.8 million are in circulation.
From a security and market perspective, Chutes has no documented history of exploits or security breaches, though the codebase lacks verified third-party smart contract audits and has experienced technical friction around TEE deployments and upgrade policies. The token faces market risks associated with constrained trading liquidity and has experienced significant price volatility, trading roughly 83.40% below its all-time high amidst competition in the decentralized compute sector.