Tokenomics
62 articles in this topic.
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Alpha Distribution Ratio
How Alpha Distribution Ratio frames distributed subnet alpha against pool-injected alpha in Dynamic TAO.
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Alpha Halving
How alpha halving reduces a subnet's alpha-token emission rate at subnet-specific supply milestones.
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Alpha Outstanding
How alpha outstanding describes subnet alpha held outside the reserve pool in Bittensor tokenomics.
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Alpha Price
How alpha price is derived from a subnet's TAO reserve and alpha reserve in Dynamic TAO.
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Alpha Reserve
How alpha reserve tracks subnet alpha held inside a subnet liquidity pool rather than outside the pool.
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Alpha Staker
How an alpha staker names a staker who holds subnet alpha through staking in a specific Bittensor subnet.
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Alpha Tokens
How Bittensor uses subnet-specific alpha tokens in emissions, staking, and subnet liquidity pools.
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Arbitrage
How arbitrageurs profit from alpha price differences across Bittensor subnet pools or between on-chain and outside markets, and how that trading keeps pool prices aligned.
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Back-Running
How back-running orders a transaction immediately after a pending swap in Bittensor's subnet pools, and how it differs from front-running and the sandwich attack.
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Bittensor Emissions
How Bittensor emissions connect newly created TAO and subnet alpha tokens to subnet incentives, validators, miners, and stakers.
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Block Reward
How much TAO Bittensor creates each block for the whole network, and how supply-based halvings cut that per-block reward over time.
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Burn Cost
How burn cost names the dynamic recycled-TAO amount required to create a Bittensor subnet.
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Burning
How burning removes tokens from spendable circulation in Bittensor tokenomics.
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Coinbase
How the Bittensor coinbase mechanism injects liquidity, accumulates pending emissions, and triggers Yuma Consensus every block.
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Conviction and Locked Stake
How locked stake builds conviction as a public commitment signal in Bittensor staking.
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Crowdloans
How a Bittensor crowdloan lets contributors collectively fund an extrinsic execution or transfer, commonly for subnet creation.
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Delegation Rewards
How a delegator earns a share of a validator's rewards in proportion to the stake it adds, after the validator's take.
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Dividends
How dividends describe the validator-side emission result produced from bonds and miner incentives in Bittensor.
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Dynamic TAO (dTAO)
How Dynamic TAO connects network TAO, subnet alpha tokens, liquidity pools, emissions, and validator stake weight.
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Emission
How emission names Bittensor's process for creating and allocating TAO and subnet-specific alpha tokens.
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Emission Split
How a subnet's alpha emission is divided each tempo, with documented shares of 41% to miners, 41% to validators and their stakers, and 18% to the subnet owner.
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Exponential Moving Averages
How exponential moving averages smooth Bittensor flow, bond, and reward signals across repeated updates.
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Fees
How fees name the TAO cost of network operations in Bittensor.
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Flow-Based Emissions
How Bittensor previously used net TAO flow to compare subnet-level reserve injection, a model deprecated in June 2026 in favor of price-based allocation.
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Front-Running
How front-running observes a pending swap in Bittensor's subnet pools and orders ahead of it, and how price protection and the MEV shield blunt it.
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Halving
How halving describes a scheduled reduction in token emission rate.
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Halving Mechanisms
How Bittensor uses supply-based TAO and subnet alpha halvings to reduce emission rates.
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Impermanent Loss
How providing liquidity to a Bittensor subnet's TAO and alpha pool exposes a provider to loss when the alpha price moves, compared with simply holding.
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Incentives
How incentives name the miner-facing reward portion of Bittensor emissions inside a subnet.
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Issuance
How Bittensor issuance tracks circulating TAO in tokenomics.
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Liquidity Positions
How liquidity positions supply range-based subnet liquidity around TAO and subnet alpha pools.
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Liquidity Provider Rewards
How a Bittensor liquidity provider earns trading fees from staking activity in its price range, and why it cannot earn from its own trades.
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Maximum Supply
How Bittensor caps TAO at 21 million, and why supply-threshold halvings and recycling shape how issuance approaches that ceiling.
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MEV (Maximal Extractable Value)
How MEV names the value extractable by manipulating transaction ordering in Bittensor's mempool context.
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Miner Incentive
How miner incentive names the emission share Bittensor miners receive for their work in a subnet.
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Network Min Lock Cost
How the network min lock cost global setting sets the floor on the TAO lock cost required to register a new subnet, separate from the dynamic cost that rises with demand.
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Price Discovery
How a Bittensor subnet's alpha price is discovered through trading in its pool, emerging from buying and selling rather than being assigned.
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Protocol Alpha
How protocol alpha names subnet alpha accumulated by the Bittensor protocol itself during reserve injection, settled pro-rata when a subnet dissolves.
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RAO
How RAO serves as the small-denomination unit for TAO amounts in Bittensor.
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Recycling
How recycling describes protocol reuse or re-emission of tokens in Bittensor supply accounting.
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Recycling and Burning
How Bittensor distinguishes re-emittable recycled tokens from tokens permanently removed from effective circulation.
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Reserve Ratio
How a subnet reserve ratio relates TAO reserves and alpha reserves in Bittensor's subnet pools.
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Root Proportion
How root proportion describes the portion of a subnet's dividend context attributed to TAO staked through the root subnet.
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Sandwich Attack
How a sandwich attack names a transaction ordering exploit that wraps a target transaction between two adversarial ones in Bittensor.
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Slippage
How slippage affects Bittensor staking and unstaking when subnet pools convert between TAO and alpha tokens.
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Staking vs Liquidity Provision
How staking to a validator and providing liquidity to a subnet's pool are two different ways to deploy TAO, earning from emissions versus trading fees.
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Start Call
How a start call activates a newly created Bittensor subnet so it begins its first emission period.
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Subnet Deregistration
How Bittensor removes an eligible subnet when the subnet cap is full and a new subnet needs a slot.
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Subnet Lease
How a subnet lease names the split-profit-ownership arrangement that gives a leased subnet a designated beneficiary and a set of contributor shareholders.
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Subnet Liquidity Pools
How Bittensor subnet pools connect paired TAO and alpha reserves to staking, unstaking, slippage, and emissions.
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Subnet Markets
How Bittensor subnets create markets for specialized digital work, evaluation, staking, and emissions.
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Subnet Owner Take
How a fixed share of each Bittensor subnet's alpha emissions, documented at 18 percent, goes to the subnet owner as stake.
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Subnet Registration
How subnet registration creates a new Bittensor subnet by paying a registration burn, assigning a unique netuid, and opening a new incentive market.
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Subnet Symbol
How Bittensor denotes TAO and each subnet's alpha token with symbols, so a quantity can be tied to the subnet it belongs to.
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Subnet Weights
How subnet weights describe each subnet's relative share of Bittensor emissions under the flow-based emission model.
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Sybil Attack
How a Sybil attack uses many fake identities to seek disproportionate influence, and why Bittensor's registration cost and stake weighting blunt it.
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TAO
The network token used in Bittensor incentive, staking, subnet reserve, and emissions context.
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TAO Reserve
How a TAO reserve describes the TAO held inside a subnet liquidity pool in Bittensor.
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Tx Delegate Take Rate Limit
How the tx delegate take rate limit sets the block-counted cooldown that paces how often a delegate's take can be increased on chain.
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Validator Dividend
How validator dividend names the emission share Bittensor validators receive for their consensus role.
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Validator Take
How validator take describes the share a validator keeps from delegated-stake emissions before the remaining emissions flow to stakers.
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Wash Trading
How wash trading uses self-dealing to fake market activity, and why Bittensor's automated market maker makes it a costly, self-defeating exercise.