colosseum
#38TrainingDecentralized LLM training using Butterfly all-reduce for efficient gradient communication across distributed miners.
Price
24h
7d Change
Market Cap
Emission
Miners
Validators
Competitor Mapping
colosseum
Decentralized
Market Cap
$2.45M
TAM
$30.00B
Model
Token-incentivized
Team
Decentralized miners
OpenAI + Anthropic (training infrastructure)
Private
Market Cap
Private
TAM
$30.00B
Model
Revenue-driven
Team
Enterprise
SN38 aims to reduce training costs by 40% vs. centralized GPU clusters using Butterfly all-reduce gradient compression, competing with the training infrastructure of OpenAI, Anthropic, and Google.
Implied Valuation
If colosseum captures a share of OpenAI + Anthropic (training infrastructure)'s $30.00B TAM
Bear - 0.1% TAM
$30.00M
implied valuation
vs $2.45M current
Base - 1% TAM
$300.00M
implied valuation
vs $2.45M current
Bull - 5% TAM
$1.50B
implied valuation
vs $2.45M current
Scenarios illustrate potential scale relative to the traditional market. Actual outcomes depend on adoption, tokenomics, and competitive dynamics.
Thesis
Butterfly all-reduce reduces communication overhead from O(d*n) to O(d*log(n)), making decentralized training viable on commodity internet. Complements SN3 (Templar) with a different approach to distributed gradient aggregation. Team has strong ML credentials.
Team
Built by the DistributedTraining team. Founded by Karim Foda (10 years ML experience, multiple open-source contributions, joined Bittensor community Nov 2022) and Mikkel Loose (6+ years as AI researcher/developer, focused on LLMs and computer vision).
- Karim Foda - Co-founder - 10 years ML experience, open-source contributor, Bittensor community since Nov 2022
- Mikkel Loose - Co-founder - 6+ years AI researcher, specialist in LLMs and computer vision
Funding
No disclosed VC funding. Funded through TAO emissions.
Traction
Completed 1.1B parameter model training run. Uses Butterfly all-reduce technique for gradient communication. ~0.5% of total Bittensor emissions. Registered Sep 2024.
Recent News
- 2026 - Active on Bittensor mainnet with distributed training runs
- Sep 2024 - Subnet registered on Bittensor mainnet
Risk
Low emissions share (~0.5% of network). Competes directly with SN3 Templar which has far more momentum and visibility after Covenant-72B. May struggle for relevance.