Bittensor is a peer-to-peer intelligence market that facilitates the efficient production of machine intelligence. It aims to enable intelligence systems to price and exchange peers’ services and outputs directly with one another across the internet. It leverages a digital ledger to accumulate scores and rewards high-ranking peers monetarily, fostering a collaborative yet competitive ecosystem for the continuous production and enhancement of machine intelligence.

$WTAO, or Wrapped TAO, is the Ethereum-based instance of the $TAO token. The latter is the digital asset central to the Bittensor ecosystem. It acts as the medium of exchange and reward within the Bittensor network. It incentivizes and facilitates the production, distribution, and consumption of machine intelligence among participants.

The primary purpose of $WTAO is to give investors and Ethereum network users easy access to the $TAO token, which serves as the economic incentive within the Bittensor network. It rewards contributors who create valuable machine intelligence and those who participate in the network's governance, development, and maintenance. $TAO also facilitates transactions within Bittensor, such as accessing intelligence services or participating in subnets.

The main use case for $WTAO is to invest easily in $TAo on Ethereum. As for the $TAO, its use cases include rewarding participants for producing and distributing machine intelligence, facilitating governance decisions within the network, and serving as a medium of exchange for services offered within Bittensor's ecosystem. It also incentivizes the creation and maintenance of subnets, fostering a diverse and competitive marketplace for intelligence services.

The value of $WTAO is pegged to $TAO. The value of the latter is determined by its utility within the Bittensor ecosystem, the demand for the intelligence services it facilitates, and the overall participation and growth of the Bittensor network. Market dynamics, speculative trading, and the perception of Bittensor's potential to revolutionize the production of machine intelligence also affect $TAO’s and $WTAO's price and market value.

You can explore the live distribution of $WTAO via the “Supply Distribution” tab on this page. However, since $WTAO’s price is pegged to $TAO, it is the latter that deserves the attention.

The total supply of TAO is capped at 21,000,000 and will be reached by 2045 through mining and validating mechanisms.

The $WTAO itself is an ERC-20 token; however, $TAO underpins Bittensor's innovative approach to creating a decentralized market for machine intelligence. Technological innovations include the peer-ranking system for intelligence valuation, Yuma Consensus for decentralized governance, and the the ability to create and participate in diverse subnets for specific intelligence services or computational tasks, all facilitated by the $TAO token.

Regarding the $TAO token’s price and its real-time on-chain metrics, there’s no better place than this page. After all, the $WTAO token is pegged to TAO in most of these regards. However, if you are interested in the Bittensor project’s progress, latest partnerships, new potential token utilities, and other announcements, check out the project’s official website, social media channels (like X (former Twitter) or Telegram), and other official outlets. You can find links to these sites in the “Wrapped TAO Links” section on this page.