What the heck is Gamma? It's the biggest change to Bittensor's token design since dTAO? @const_reborn and @KeithSingery broke it down on day 2 at @ExploitSummit, the day after Const announced it on stage day 1. The 36 minute fireside chat is required viewing material, but I'll give you the cliff notes. > Gamma is a usage credit you mint by burning subnet Alpha, priced against a stable oracle basket, so $5 of Alpha becomes 5 Gamma that never changes in quantity once minted. > It is a one-way trip, since Gamma can't be converted back to Alpha and only the subnet owner key can accept it, which means 100% of the value capture flows through Alpha. > It puts the buyback-and-burn credit model that @lium_io, @chutes_ai and @TargonCompute already run on private databases directly on chain, with no email, no API key and one atomic transaction from any chain. > Subnet owners can redirect part of miner emissions to automatically buy other subnets' Gamma, so a product team can pull in inference, compute and storage from across Bittensor without raising outside capital.