Into:Swap
Liquidity mining on Bittensor
As of · Jun 4, 10:37 UTC
Swap turns idle into a productive asset by rewarding who provide to the TAO/USDC pool on TaoFi. It's one of the few where the output is directly measurable in fees earned.
What is Swap
Swap (SN10) is a Bittensor subnet that incentivizes miners to provide liquidity to the TAO/USDC trading pool on TaoFi. Instead of running AI models, miners here are liquidity providers, staking assets into the pool and earning rewards based on the trading fees their positions generate.
The simple version: It's like being a market maker on a DEX, but Bittensor pays you extra rewards for doing it well.
Centralized equivalent: No direct equivalent, though Uniswap and Curve offer similar liquidity provision mechanics in traditional DeFi.
How it works:
- Miners provide liquidity to the TAO/USDC pool on TaoFi and are scored based on how much trading fees their positions generated in the past 24 hours
- Validators measure fee generation per miner position and set weights accordingly, distributing to the most productive liquidity providers
Why This Matters
- The problem it solves: TAO has historically lacked deep, reliable liquidity on-chain. Thin pools mean high for anyone buying or selling, hurting the entire ecosystem.
- The opportunity: Every Bittensor transaction, stake, and unstake benefits from better liquidity. Swap creates a direct incentive to build that depth.
- The Bittensor advantage: Decentralized incentives attract liquidity providers globally without a single entity controlling pool management or fee structures.
- Traction signals: 727 commits across 9 contributors since launch, with the last commit in November 2025. Price is up 27% over 7 days and 49% over 90 days. Volume spiked 323% in the past 24 hours, suggesting renewed activity around the subnet.
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