Bittensor co-founder Jacob Steeves wants the protocol he helped build to no longer need him. The man known as “Const” in crypto circles has published a roadmap to fully decentralize Bittensor within 18 months, targeting a completion date around December 2027.
The decentralization deficit
Bittensor, co-founded by Steeves and Ala Shaabana, has built genuine decentralized ownership among its participants over more than five years of operation. The network currently runs 128 active subnet teams and more than 20 core validator teams.
But ownership and control are not the same thing. Bittensor’s governance structure has relied on what’s been called a “triumvirate” model, and critics have argued it concentrates too much power in too few hands. The core team’s grip on the economic incentive layer, the mechanism that determines how rewards flow through the network, has been a persistent sore point.
That criticism reached a boiling point in April 2026 when Covenant AI, a participant in the Bittensor ecosystem, exited the network entirely. Covenant AI accused the protocol of “decentralization theatre,” alleging unilateral control by Steeves over key network decisions. TAO’s price dropped roughly 18-20% in the aftermath.
