THOR (SN112): Uses, Supply and Risks

THOR, ticker SN112, is associated with Bittensor Subnet 112, a project developing open infrastructure for robotics. Its first planned use case is a marketplace for commissioning robotics training data, beginning with expert video annotation. A buyer can specify a task and acceptance criteria; contributors produce annotations, and THOR coordinates their verification and delivery. The initial pilot is described as private and aimed at professional annotation firms, with permissionless annotation planned after beta. The longer-term goal is to connect data, models and hardware for robotics research and deployment. These are project aims, not proof that every part of the marketplace is already generally available. THOR (SN112) is not THORChain’s RUNE token or the THOR token associated with THORSwap. Similar names can make it easy to confuse unrelated assets, so check the ticker and subnet identity before researching or handling the token.

SN112 is described as an incentive mechanism for Bittensor Subnet 112. Subnet emissions are reported to go to participants considered effective, but public sources do not specify a complete reward formula, participant eligibility rules, or how performance is measured. The project’s initial product focus is coordinating robotics training-data work, including task requirements, annotation, verification and delivery. That purpose does not mean every token holder can use the marketplace, receive rewards, or claim a share of project revenue. Check current subnet and project documentation for the exact role of SN112 before relying on it for any particular function. The project describes a private pilot for professional annotation firms and plans permissionless annotation after beta; access may therefore differ by stage. Treat the marketplace roadmap and the token’s incentive role as separate questions: a stated product direction is not, by itself, a guarantee of token utility or future demand.

As of 2026-11-05, the reported circulating and total supply is about 2.84 million SN112, against a stated maximum supply of 21 million. The circulating and total figures are the same, but supply can change as tokens are issued or otherwise accounted for. The reported price was about $1.95, with a market capitalization of about $5.5 million and fully diluted valuation also about $5.5 million on that date. These are time-sensitive estimates, not fixed token properties, and they do not indicate what the token may be worth later. A separate project update describes linear vesting for liquidity-pool allocations, but public sources do not give enough detail to map every allocation or release schedule. Review current tokenomics and subnet records for the latest supply accounting. Do not treat maximum supply as proof that all tokens are already circulating or that future issuance has stopped.

THOR is tied to Bittensor Subnet 112, but that association alone does not establish which blockchain network or wallet format should be used to hold or transfer SN112. No separate native chain or issued-on-chain details are confirmed here. Before sending or receiving tokens, verify the current network, token identifier, and supported wallet instructions through authoritative THOR or Bittensor materials. Do not select a network simply because another asset named THOR uses it. If using a self-custody wallet, protect the recovery phrase offline, never share it, and beware of fake support accounts and copied token listings. For exchange custody, check that the venue supports the exact SN112 asset and deposits or withdrawals on the network you intend to use. A wrong-network transfer or mistaken asset identification may be difficult or impossible to reverse.

SN112 carries the risks common to small, specialized crypto assets, including price volatility, limited liquidity, changing token incentives and uncertainty about adoption of the underlying project. The reported market figures are a snapshot and can change quickly; they are not a forecast. THOR’s robotics marketplace is described as being at an early stage, with a private pilot and later permissionless access planned, so product availability and execution remain relevant uncertainties. Token distribution, vesting and emissions can also affect supply and incentives, and the information summarized here does not describe every allocation or rule. There is an added risk of buying or transferring the wrong asset because THOR is a name shared by unrelated crypto projects. Verify the ticker, subnet and network independently, and understand that you could lose some or all of the value you put at risk. This is general information, not investment advice.