Verathos
SN96
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
SN96 (Verathos), Bittensor Subnet 96, exhibits severe structural, governance, and tokenomic vulnerabilities across all evaluated areas. While technical development remains active with deployed architecture and model registration EVM contracts, there is no public repository to verify telemetry, and the protocol completely lacks a third-party security audit. Governance is heavily centralized under a single owner key with no DAO or on-chain voting mechanism, and on-chain tracking reveals the anonymous owner is actively unwinding their conviction lock. Tokenomics present an extreme supply overhang, with only ~3% of the 21,000,000 token total supply in circulation, creating a massive 36x gap between its ~$1M market cap and ~$35.8M FDV. Accompanied by nonexistent SN96-specific community engagement, thin liquidity, and an unrecovered ~63% price decline from its all-time high, the asset poses substantial systemic risk.
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 Verathos (SN96)
SN96 (Verathos) is a Bittensor subnet token associated with Bittensor Subnet 96, designed for cryptographically verified artificial intelligence inference and training. The protocol's architecture incorporates an OpenAI-compatible gateway alongside EVM contracts utilized for model registration. Its technical design employs on-chain Merkle tree commitments, sumcheck-based proofs, and x402 payments to facilitate verifiable machine learning workloads.
The tokenomics of SN96 feature a total supply of 21,000,000 tokens, of which approximately 3% (around 580,000 tokens) are in circulation. This creates a significant supply overhang, with a circulating market capitalization of roughly $1.0 million against a fully diluted valuation of approximately $35.8 million. The protocol does not incorporate deflationary or token-burn mechanisms. Governance is centralized under a single owner key without a decentralized autonomous organization (DAO) or community voting framework, and the development team remains entirely anonymous.
The project faces notable structural, security, and market risks. Verathos has not completed any third-party security audits, and its development telemetry cannot be independently verified due to the absence of a public GitHub repository. The token has suffered an unrecovered price decline of approximately 63% from its all-time high of $4.55 down to $1.68. Additionally, on-chain tracking indicates that the single subnet owner has been actively unwinding their conviction lock and withdrawing committed value, further compounding centralization and liquidity concerns.