{
  "url": "https://blockindex.ai/coin/sn4",
  "name": "Targon",
  "links": {
    "github": null,
    "website": "https://targon.com/",
    "whitepaper": null
  },
  "dScore": 43,
  "market": {
    "priceUsd": 11.406274243779151,
    "marketCapUsd": 50354731.40284812,
    "volume24hUsd": 76993.14264979,
    "priceChange7dPct": 5.29902925,
    "priceChange24hPct": -4.72667747
  },
  "source": "BlockIndex.AI",
  "supply": {
    "max": 21000000,
    "circulating": 4414652,
    "circulatingPct": 21.02215238095238
  },
  "ticker": "SN4",
  "founder": "Manifold Labs",
  "vcFunded": true,
  "updatedAt": "2026-06-19T06:00:23.477677+00:00",
  "fairLaunch": false,
  "launchYear": 2024,
  "description": "Targon (SN4) is the subnet asset associated with Targon, Bittensor Subnet 4, a confidential compute marketplace and decentralized AI cloud built by Manifold Labs. The project is positioned around bringing GPU and AI compute supply into Bittensor’s incentive network, where miners and validators coordinate around useful digital work rather than a standalone proof-of-work or proof-of-stake chain. Available source material identifies Targon as a Bittensor subnet token rather than an independent layer-1 blockchain, with its core identity tied to confidential workload execution, permissionless compute participation, and marketplace-style access to AI infrastructure.\n\nThe project’s main technical differentiator is confidential compute. Targon is described as using the Targon Virtual Machine and related infrastructure to let compute providers compete while keeping workloads private. In the Bittensor subnet model, miners provide subnet-specific services and validators evaluate outputs, with subnet incentives routed through the broader Bittensor ecosystem. Targon v2.0.0, announced on July 29, 2024, was described as a major rewrite of the core Subnet 4 infrastructure. The release reduced the codebase substantially and introduced revised grading mechanics, including Jaro-Winkler similarity checks intended to improve response evaluation and discourage behavior that inflated token-per-second metrics without improving useful output.\n\nTargon’s use case centers on decentralized AI compute, confidential inference, and onboarding datacenter or GPU suppliers into a permissionless marketplace. Manifold has described Targon as a decentralized, verifiably confidential, trustless AI cloud. The source summary also states that Targon was serving more than 20 billion paid inference tokens per day and was backed by more than 1,500 H200 GPUs as of Manifold’s July 28, 2025 Series A announcement. In May 2026, SimplyTao reported the launch of Targon’s Supply Portal for onboarding compute suppliers, reinforcing the project’s practical focus on GPU supply, AI workloads, and infrastructure participation rather than consumer payments or general-purpose smart contracts.\n\nSN4 has a maximum supply of 21 million tokens. The provided market snapshot lists a price near $12.28, market capitalization of about $54.23 million, 24-hour volume of about $970,340, and circulating supply of about 4.41 million SN4, equal to roughly 21.02% of maximum supply. The token’s reported all-time high differs by market data source, with CoinMarketCap listing $29.87 on July 22, 2025 and CoinGecko listing $39.23 on June 10, 2025; the combined summary’s primary market-data section uses $29.87. No documented premine percentage, public initial percentage, ICO, or detailed subnet-owner allocation was provided, so the initial distribution remains unresolved from the supplied material.\n\nGovernance details for Targon itself are limited. The project is built by Manifold Labs, and Manifold announced a $10.5 million Series A on July 28, 2025 led by OSS Capital with participation from Digital Currency Group, Tobi Lutke, Ram Shriram, and Zachary Smith. Broader Bittensor governance is referenced in the source material, but no SN4-specific DAO, token-voting mechanism, treasury governance, or executive leadership structure is documented. Development direction appears tied to Manifold Labs’ confidential AI infrastructure roadmap, with Targon v2, Supply Portal onboarding, and continued Bittensor subnet participation as the clearest documented milestones.",
  "methodology": "https://blockindex.ai/dscore",
  "classification": {
    "layer": "Layer 2",
    "isToken": true,
    "consensus": "Other",
    "parentChain": "TAO"
  },
  "dScoreComponents": {
    "autonomy": 0,
    "ageHistory": 7,
    "governance": 11,
    "nodeDistribution": 0,
    "initialDistribution": 25
  },
  "decentralizationVerdict": "Moderately Decentralized"
}