Pluralis just trained a 7.5B model across 1,642 consumer GPUs in 198 cities over 80 Mbps internet. prime intellect trained 10B parameters across 3 continents with 30 independent providers. 169Pi shipped alpie core at 32B params beating GPT-4o on SWE-bench at $3.50/1M tokens vs $30. morpheus AI pumped on the claude 5 shutdown but MOR is smart contract layer not training infra. the actual decentralized training protocols are pre-token with USV, CoinFund, Founders Fund, and Karpathy backing them. market is pricing narrative into the wrong asset. when pluralis and prime intellect launch tokens in 2026-2027 that's the real compute repricing event