Mode launches Synth 'subnet' on #bittensor to create decentralized AI that predicts cryptocurrency prices
Mode, a layer 2 network focused on agent development, has launched a subnet on Bittensor for AI agents that can predict cryptocurrency prices.
While Mode primarily exists as a Layer 2 on Ethereum and is part of the Optimism Superchain, the subnet will operate separately as an application chain in the Bittensor ecosystem to provide infrastructure for AI-powered financial modeling.
#BittensorTAO is a blockchain protocol that facilitates a decentralized, collaborative machine learning network. In this ecosystem, AI models operate decentralized and reward nodes (miners and validators) with TAO, its native cryptocurrency, based on the utility or accuracy of the AI results.
In this scenario, Mode's Synth would act as a subnet. Each Bittensor subnet functions as an independent marketplace where participants compete to provide the best AI models for a specific task.
Specifically, Sync would leverage Bittensor's model to incentivize the development of financial forecasting models. The developers stated that Synth will serve as a resource for querying probability distributions of future prices, with the aim of using it in cases of options trading and portfolio management.