BullTensor
TAO $277.90
Market cap · 30d
$55.2M τ199K
1.58% / 24h ↘
24h volume
$0 —
Daily, 24 days
Supply
18.3%
3.85M δ
in circulation, out of 21M max
  • In circulation 3.85M δ · 18.3%
  • In the pool 2.59M δ · 12.3%
  • Not emitted yet 14.6M δ · 69.3%
Locks
$2.62M 4.8% of circulating supply
  • Owner lock 0.00 δ · 0.0%
  • Other holders (1) 183K δ · 4.8%
  • Not locked 3.67M δ · 95.2%
∞ Perpetual lock 183K δ · ↘ Decaying lock 0.00 δ

What is Targon?

In short
  • Targon rents out machines (GPUs and CPUs) to run AI, like a classic cloud.
  • Its promise: even the person providing the machine can't see your models or your data.
  • It runs on Bittensor subnet 4 (SN4) and is built by Manifold Labs.

When you run a private AI on someone else's machine, a risk remains: the owner could look at what's going on. Targon rents out machines whose contents stay invisible even to their owner, thanks to protections built into the hardware. It's called "confidential computing".

Targon is part of decentralized GPU compute and receives 6.69% of the network's rewards. It doesn't publish a public price list: this page shows its on-chain data only.

How it works

  1. 01
    Participants provide the machines

    The subnet's miners offer GPU and CPU servers, including NVIDIA H200 nodes.

  2. 02
    The machine is checked and locked

    Before anything runs, the hardware proves it's sound, then your work runs in an isolated, encrypted zone.

  3. 03
    You run your AI privately

    Your models and data stay protected, even from the machine's provider.

Going further: the technical details

Workloads run in confidential virtual machines (Targon Virtual Machine, TVM) on bare-metal hardware. The TVM uses Intel TDX and NVIDIA nvTrust to attest the host and GPUs before anything runs.

  • August 2025: Manifold Labs announces a $10.5M Series A to build out the marketplace.
  • October 2025: launch of "Secure Targon Compute", H200 GPU and CPU nodes secured by the TVM, later joined by ready-made images and persistent storage.

Owner on-chain revenue

What the subnet's team earns: 18% of the tokens the subnet creates every day go to it. It's its on-chain salary, visible to everyone.

Per day (current)
$18,579.39
τ66.86 · 1,295.97 δ
Last 30 days
$589K
τ2,089.75
Last 90 days
$1.52M
τ6,483.90

Daily revenue in USD (owner emissions × alpha price × TAO/USD of the day).

Alpha locks

on-chain state 40 minutes ago

When a team locks its own tokens, it can't sell them: it's a sign of confidence in its project. Other holders can lock too, behind the team's key.

Locked by the owner
None
Type
—
Emission auto-lock disabled
Total on the owner hotkey
183K δ
∞ 183K · ↘ 0
Wallets locking
1
on the owner hotkey
ColdkeyHotkeyAlpha locked % circulatingTypeLast update
5HMtFE…eS8CCx owner hotkey 183,019.06 δ 4.76% ∞ Perpetual #8865642
How it's measured

Alpha locked via Lock / OwnerLock. A perpetual lock (∞) never unlocks; a decaying lock (↘) is released progressively (~130 days). An owner locking its own alpha signals confidence in the project.

Buybacks

Some teams use their revenue to buy back their own token and destroy it ("buyback & burn"): fewer tokens in circulation, like a company buying back its shares.

Alpha burned 30d
—
Buyback & burn
…
Manual burns
…
Emission burns
…
Burned by the owner (30d)
0.00 δ

The split between buyback & burn, manual burns and emission burns appears once the events of the period are indexed (history scan in progress).

60 days excluded: missing reading, or the counter moved more than the subnet can burn (e.g. runtime migration rewriting it).

TAO spent 30d
τ0
$0
TAO spent (all indexed)
τ0
Alpha burned 30d
0.00 δ
Operations
0

No buyback indexed yet.

How it's measured

On-chain events: AddStakeBurn (buyback & burn), alpha purchases (StakeAdded) and burns/recycles made by this subnet's declared treasury wallets.

Targon FAQ

What is Targon (SN4)?
Targon is Bittensor subnet 4, a confidential compute marketplace built by Manifold Labs: developers rent GPU and CPU machines from Bittensor miners, secured by the Targon Virtual Machine.
What is the Targon Virtual Machine (TVM)?
A confidential virtual machine stack using Intel TDX and NVIDIA nvTrust attestation, so that workloads run on bare-metal hardware without the operator being able to see the models or data.
Who builds Targon?
Manifold Labs, which announced a $10.5M Series A in August 2025 to grow the Targon compute marketplace.
How is Targon different from lium.io?
Both rent out GPUs supplied by Bittensor miners. Targon focuses on confidential computing (attested, encrypted VMs), while lium.io is a broad GPU marketplace with many GPU models and hourly prices.
What is the Targon token?
The alpha token of Bittensor subnet 4 (symbol δ), traded against TAO in the subnet's on-chain pool: currently τ0.0515880 ($14.34), for a market cap of $55.2M.