Chutes PriceSN64

What is Chutes (SN64)?

Chutes (SN64) is a decentralized serverless AI compute platform built on the Bittensor network, specifically as Subnet 64. It provides open, on-demand AI inference and serverless compute services, allowing developers and companies to deploy, scale, and run open-source artificial intelligence models without managing GPUs or traditional infrastructure. The platform addresses a critical gap in the AI landscape by offering decentralized inference for open-source models, positioning itself as one of the most important pieces of infrastructure in the Bittensor ecosystem.

Chutes operates as a powerhouse behind Subnet 64, delivering serverless AI inference infrastructure that enables developers to run models at scale. The project has demonstrated significant technical milestones, including shipping end-to-end encryption for AI inference in March 2026 and reaching a throughput of 160 billion tokens per day without centralized infrastructure. The network has processed over 6.12 billion requests in a year of traffic, which has become the subject of a research paper.

The SN64 token has a maximum supply of 21,000,000 tokens. Circulating supply figures vary across sources, with snapshots ranging from approximately 5.33 million to 6.13 million SN64. The project is in an active development and growth phase, with a token buyback program and treasury management tracked by analytics platforms. Chutes is categorized under AI & Big Data, Bittensor Ecosystem, and Bittensor Subnets, reflecting its core focus on decentralized artificial intelligence infrastructure.

Key Specifications & Tokenomics

• Name: Chutes
• Ticker / Symbol: SN64
• Blockchain / Network: Bittensor network (Subnet 64)
• Category / Tags: AI & Big Data; Bittensor Ecosystem; Bittensor Subnets; Data management and AI
• Max Supply: 21,000,000 SN64
• Total Supply: 21,000,000 tokens
• Circulating Supply: Approximately 5.33M to 6.13M SN64 across various snapshots
• Consensus Mechanism: Bittensor network consensus (Subnet 64)
• Contract Reference: Listed as "64" on CoinMarketCap (SN64 is a Bittensor subnet token on a Substrate-based chain, not an EVM or Solana asset)
• Official Website: chutes.ai
• Whitepaper / Technical Doc: https://chutes.ai/docs
• Source Code: GitHub (chutesai/chutes)
• Block Explorer: taostats.io/subnets/64
• Token Buyback Program: Yes, with treasury management and burned token tracking
• Launch Date: February 13, 2025 (launched as Bittensor Subnet 64 in late January 2025); CoinMarketCap listing date June 20, 2025.

Maximum supply is 21,000,000 SN64; circulating supply is roughly a quarter of that, so net emission is currently inflationary as new SN64 enters circulation through Bittensor's subnet emission mechanism. Note that CoinMarketCap lists total and circulating supply as 0 SN64, while other sources report figures in the 5.33M–6.13M range.

SN64 did not go through an ICO or public token sale; it entered circulation through Bittensor's standard on-chain subnet emissions and registration mechanism.

Who created Chutes?

Chutes was founded by Jon Durbin, who is described as the founder of the project. He has publicly explained how the platform enables developers to deploy AI models without the heavy lifting of traditional infrastructure. The project is developed by Rayon Labs, with lead contributions from Jon Durbin and other core contributors.

Chutes is developed by Rayon Labs, a decentralized collective led by founder Mohammed Hashmi, and is operated under Chutes Global Corp, an International Business Corporation registered in Nevis.

On September 8, 2026, the subnet appointed Christian as its new CEO to focus on business and management, while co-founder Jon continues to lead vision and development.

The core contributor team, as listed in Chutes AI news from November 12, 2025, includes Cxmplex working on backend, Bonoliver on frontend, Florian S on backend, Kyle on backend, Jon Durbin on backend, and Sirouk on backend. This dedicated team has been instrumental in building and maintaining the decentralized serverless AI compute platform.

The project maintains an active presence on social media through its X account @chutes_ai, where it publishes weekly updates under the "Last Week in Chutes" series. These updates provide transparency into ongoing development, community activities, and technical milestones achieved by the team.

How does Chutes work?

Chutes functions as a decentralized serverless compute platform built on the Bittensor network. It allows developers to deploy, scale, and run open-source artificial intelligence models without the need to manage underlying GPU infrastructure. The platform provides open, on-demand AI inference services, meaning users can access computational resources as needed without maintaining their own hardware.

For any user-deployed chutes, the deployments are private by default but can be shared. Users have two options for sharing: they can either use the chutes share entrypoint or call the API endpoint directly. This flexibility allows developers to maintain control over their deployments while still enabling collaboration and access when desired.

A significant technical feature is the end-to-end encryption for AI inference, which was shipped in March 2026. This feature encrypts prompts directly on the developer's machine, enhancing privacy and security for users. The platform has demonstrated remarkable scalability, hitting 160 billion tokens per day without relying on centralized infrastructure, and has processed 6.12 billion requests over a year of operation.

What makes Chutes unique and valuable?

Chutes distinguishes itself through its decentralized approach to AI inference, addressing a gap in the market for open-source AI model deployment. By providing serverless infrastructure on the Bittensor network, it eliminates the need for developers to manage GPUs, significantly reducing the technical and financial barriers to deploying AI models at scale.

The platform's end-to-end encryption for AI inference, shipped in March 2026, provides a strong privacy model where prompts are encrypted directly on the developer's machine. This feature is particularly valuable for developers and companies handling sensitive data or requiring confidential AI computations.

Chutes has reportedly ranked as the #1 Bittensor subnet by market cap and emissions share, drawing roughly 13.68%–14.88% of daily TAO emissions in cited months. Its ability to deliver serverless AI inference infrastructure without centralized infrastructure, demonstrated by hitting 160 billion tokens per day, showcases its technical robustness and scalability. The token buyback program and treasury management further add value to the ecosystem by potentially reducing circulating supply and supporting token economics.

Chutes reportedly undercuts AWS pricing by roughly 85% and centralized aggregators such as Together AI by 10–50%, and reported $1.13 million in total revenue over the 90 days to August 30, 2026 (about $4.58 million annualized).

What is Chutes used for?

Chutes is primarily used for deploying, scaling, and running open-source artificial intelligence models in a decentralized manner. Developers and companies use the platform to access on-demand AI inference services without the burden of managing traditional infrastructure or GPUs. This makes it particularly suitable for organizations that want to leverage AI capabilities without significant capital expenditure on hardware.

SN64 is a Bittensor subnet alpha token rather than a conventional governance token: participants stake TAO into Subnet 64 to receive SN64, gaining exposure to the subnet's emissions and performance. The token has a maximum supply of 21 million, with a buyback program that may impact its circulating supply over time.

Users can deploy their own private chutes and choose to share them either through the chutes share entrypoint or by calling the API endpoint directly. This makes the platform versatile for both individual developers and larger organizations seeking scalable, private, and shareable AI compute solutions.

How Is the Chutes ecosystem developing?

The Chutes ecosystem is actively developing within the broader Bittensor TAO ecosystem. As Subnet 64, it operates alongside other subnets such as lium (SN51), Targon (SN4), Score (SN44), templar (SN3), Vanta Network (VANTA), iota (SN9), Gradients (SN56), Ridges AI (SN62), OpenKaito (SN5), and Staking (SN88). This interconnected ecosystem provides a rich environment for collaboration and innovation in decentralized AI.

Development progress is documented through regular "Last Week in Chutes" updates on X (@chutes_ai). The project has achieved notable milestones including the shipment of end-to-end encryption for AI inference, reaching 160 billion tokens per day throughput, and having a year of traffic data comprising 6.12 billion requests turned into a research paper.

Partnerships and integrations include a listing as a Desearch partner, where Chutes delivers serverless AI inference infrastructure on Bittensor. The platform is also referenced in various reviews and analyses, such as HTX's "What Is Chutes (SN64)? Use Cases, Mechanism & Risks" published in September 2026, indicating growing market attention and ecosystem maturity.

How to mine Chutes?

Chutes operates as a subnet on the Bittensor network, which utilizes a unique consensus mechanism where subnet participants contribute computational resources and receive token rewards. Rather than traditional mining, participants in the Bittensor ecosystem typically engage in staking or providing computational services to earn SN64 tokens.

Specific mining or staking procedures for Chutes would involve interacting with the Bittensor network and Subnet 64. Miners run inference applications called "chutes," while validators test and benchmark their latency, quality, and reliability; validator-set on-chain weights route traffic and emissions to higher-performing miners. Miners earn SN64-denominated emissions for running chutes, and validators earn emissions for benchmarking miners and setting on-chain weights.

The token buyback program and treasury management activities tracked by Tokenomist suggest that token economics are actively managed, which may influence staking returns and participation incentives. As with any cryptocurrency project, potential participants should conduct thorough research and understand the risks involved before committing resources.

How to keep your Chutes Coin safe?

Keeping SN64 tokens safe requires adherence to general cryptocurrency security best practices. Since SN64 operates on the Bittensor network, users should use compatible wallets that support Bittensor-based assets. Hardware wallets are generally recommended for storing significant amounts of cryptocurrency as they keep private keys offline and protected from online threats.

Users should never share their private keys or seed phrases with anyone. It is advisable to use strong, unique passwords and enable two-factor authentication where available. When interacting with decentralized applications or platforms like Chutes, users should verify official URLs and smart contract addresses to avoid phishing attempts.

Crypto-asset prices can be highly volatile, and the value of SN64 may fluctuate significantly.