On April 12, Jacob Robert Steeves, co-founder of Bittensor, published a post accusing Samuel Dare, founder of Covenant AI, of actions that harmed the protocol and community, betrayed the trust of investors and users, and apologized to affected users. He announced plans to implement a "locked staking" mechanism to enhance transparency, protect investors, and reduce risk. He also stated that development of the related subnet will continue under community guidance, with the protocol’s functionality and vision remaining unchanged, and future plans include training a one-trillion-parameter model.
Bittensor Co-Founder Addresses Covenant AI Incident and Proposes Governance Solution
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Summary
Bittensor co-founder Jacob Robert Steeves addressed the Covenant AI incident, criticizing founder Samuel Dare for actions that harmed the protocol and user trust. Steeves apologized and proposed a "lock staking" mechanism to enhance transparency. He confirmed that subnet development will continue under community leadership, with no changes to the protocol’s vision. Bittensor plans to train a 100-billion-parameter model. This protocol update comes amid ongoing developments in AI and crypto news.
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