Most subnet tokens are created through emissions. We pay closest attention to the rarer case: subnets earning real revenue and routing it back into their own token. These are the ones where that link is live today.
A serverless platform for running AI models. Platform revenue, in TAO or fiat, is staked back into the Chutes token, tying token demand directly to product usage.
Read the thesis → Subnet 41A sports-prediction network that trades its signal on prediction markets, takes a fee on winning trades, and routes that revenue into open-market buybacks of its token.
Read the thesis →Our deeper diligence on these subnets, and the rest of the portfolio, is shared with prospective investors.
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