In the past two months, TAO has actually been quite active, but the price has been stagnating, so people have become lazy about watching it. When one day it suddenly pumps, they will realize—oh, so much progress has been made.

Here are some key pieces of information:

**Halving confirmed**
In mid-December 2025, TAO will experience its first halving in history. The daily output will be cut directly from 7200 to 3600. Halving has never been a trivial matter in the crypto market; with the supply halved, even the calmest funds will have to weigh their options.

**Taoflow mechanism is now live**
Officially launched in November last year, the changes are quite significant. Previously, incentives were mainly based on token price fluctuations, but now they are based on the volume of staked inflows - simply put, it rewards those who truly use it, contribute computing power, and earn rewards. This is a structural adjustment for all subnetworks, making the reward logic more pragmatic.

**Subnetwork applications are being implemented, not just for show**
- Score (SN44) has partnered with AVIA, and Vision AI has been deployed to over 3,000 gas stations in Europe.
- Zeus (SN18) connects to WeatherXM, integrating data from thousands of decentralized weather stations.
- ReadyAI (SN33) is conducting corporate research with Ipsos, and real-time tasks are already running.

These are not PPT projects; they all have actual off-chain businesses in operation.

My personal opinion is that the fundamentals of TAO have actually been improving all along, but no one is making a big fuss about it. The mechanism is becoming more and more reasonable, and with the certainty of the halving event in December, as long as BTC doesn't throw a curveball, the probability of TAO rebounding to around 400 is quite high.

Recently, the strategy has been cautious, and I have repeatedly mentioned in previous posts that the focus should be on observing the market with a short-term empty position. Currently, this judgment has proven to be correct.