Latest Dippy (SN11) News Update

Deep Dive

1. Completed Roadmap Analysis

The project has checked off all original objectives per its GitHub documentation (impel-intelligence/dippy-bittensor-subnet):
- Phase 1 (Done): Established evaluation pipelines and public leaderboards (April 2024)
- Phase 2 (Done): Integrated top models into Dippy's frontend/app (Feb 2025 per commit history)
- Phase 3 (Done): Began continuous model iteration cycle (July 2025 activity)

Recent GitHub commits show maintenance focus - memory leak fixes (Apr 2024) and model submission optimizations (July 2025). This suggests core infrastructure is operational rather than undergoing major changes.

2. Emerging Strategic Priorities

With the technical foundation built, two new focus areas emerge:
- Community Scaling: The miner/validator system now depends on open-source contributors to improve models, with a 34B parameter cap allowing larger architectures
- Data Advantage: Dippy's 1M+ user app generates proprietary conversation data (Dippy Blog) that could create moats in training roleplay-specific models

The project faces a critical transition from protocol-building to network effects - success now hinges on attracting quality model submissions and converting app users into subnet participants.

Conclusion

Dippy has transitioned from protocol development to an adoption phase, leveraging completed infrastructure to crowdsource model improvements while monetizing through its existing app. The key question now: Can their incentive structure attract enough high-quality LLM contributors to outpace closed-source competitors like Character AI?

Deep Dive

1. Sentiment overview

Traders on Telegram and X highlight SN11’s 45.75% weekly surge (vs. +2.46% for total crypto market) as a speculative play, though the absence of audited supply metrics keeps sentiment bifurcated. Bearish voices note the 31.31% drop in 24h volume to $1.67M (as of 4 July 2025), signaling fading momentum.

2. Key discussion themes

• Supply opacity: 100% of SN11’s market cap is self-reported, with no CMC-verified circulating supply—a red flag for analysts (CoinMarketCap).
• Liquidity risk: Turnover (volume/market cap) is uncalculable due to the $0 cap, suggesting extreme volatility risk if larger holders exit.
• Macro drag: Bitcoin’s dominance hit 64.64% this week (yearly max: 65.12%), starving altcoins of capital inflows.

Conclusion

SN11’s rally appears driven by retail speculation in a neutral macro environment (Fear & Greed Index: 55), but unverified fundamentals and Bitcoin’s dominance pose sustainability risks. How might verified supply data impact SN11’s volatility and trader positioning?