Bittensor's first halving! The economic model of TAO has evolved once again, and this key milestone marks the network entering a new phase. The halving mechanism, as an important regulatory tool in crypto projects, typically affects the supply growth rate and market dynamics. This event also serves as a reminder for us to pay attention to the long-term design of these underlying protocols—how they maintain ecosystem health through economic incentives. Interested friends can follow the subsequent data performance and ecological responses.