In addition, the SN96 subnet launched by @ floor_io on Bittensor has created an interesting market phenomenon - the subnet FDV has exceeded the valuation of the main network, resulting in an "inversion". What exactly happened behind this? To be honest, it's quite surprising to see a sub network in the TAO ecosystem that has truly become popular through technological implementation. Previously, subnets were more like "experimental fields" for Meme rotation, but the emergence of FLock SN96 seems to have reversed everyone's stereotypical impression of the TAO subnet ecosystem. The federated learning framework implemented by FLock on SN96 claims to address a core pain point in AI training - how to efficiently complete model training and data validation in a decentralized computing environment. It's interesting that even the core developers of Bittensor are the first to forward and participate, which is a rare phenomenon in the TAO ecosystem for the attention of this technology community. And there is an interesting phenomenon: the FDV of FLock subnet has exceeded $200 million, even surpassing the valuation of the main network. According to common sense, subnets should be a part of the main network ecosystem, but now there is a clear phenomenon of inversion. What could this phenomenon reflect? 1) The premium effect of technological narrative: The TAO community's preference for "true technology" projects may lead to irrational amplification of valuation. After all, federated learning does sound more persuasive than pure Meme. 2) The differentiation of market cognition: The popularity of the technology community and the coldness of the C-end market have formed a clear contrast. Whether this cognitive difference is "value discovery" or "precursor of foam" remains to be verified over time. The performance of the FLock subnet is more like a market experiment - to what extent technical narratives can leverage valuation expectations. The phenomenon of "inverted" valuation of subnets exceeding that of the main network may be a reflection of professional judgment or just a product of short-term emotions. As for how long this cognitive dissonance will last and in which direction it will eventually converge, only the market can provide an answer.