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What a subnet is

A subnet is an independent market for one kind of work, with its own token, its own miners and its own price.

Tempo and emission

Emission is the chain paying for work on a fixed schedule — the metronome behind every subnet number.

What dTAO is

Under dTAO a stake is a position in one subnet's pool, bought with τ and priced in it — not a share of the whole network.

Root (SN0)

Root is where τ is staked without buying anything: one-to-one, no pool, no price — and a cut of every subnet's validator emission.

How emission is split

New τ is allocated per subnet every block, paired with α where the pool allows and spent buying α where it does not — with root stakers and miner burn taking their share.

The moving price

Beside the spot price the chain keeps its own exponential moving average — the figure it uses for emission and for the deregistration queue, and the one Taosis values a subnet at.

Registration and immunity

A new subnet claims one of a fixed number of slots for a τ lock that moves with demand, and the queue cannot touch it until its immunity lapses.

Miners and mechanisms

A miner is a registered neuron that validators actually pay; a mechanism is one scoring loop — and a few subnets run more than one.

What TAO is

TAO is Bittensor's base token: the unit every α is priced in, what the chain mints each block to pay for work, and what you spend to enter a subnet.

How the α price works

It is a ratio between two chain values, not an order book — which is why the price can move with no trade at all.

How validator APR is computed

Observed dividends, net of take, annualised — one epoch on the subnet pages, a 24-hour median in the validators directory.

Reading price attribution

Trading versus emission, decomposed exactly rather than fitted — with the leftover always published.

Cost basis and P&L

WAC or FIFO, replayed over indexed fills — with coverage stated, because a partial history makes a fake profit.

Pool depth and slippage

Depth is the τ that moves a pool's price a given distance; a quote is the same curve read from the trader's side, with the fee on a different leg for buys and sells.

Market cap, FDV and supply

Supply counts α without pricing it; market cap prices what circulates at the chain's moving price; FDV prices the 21 million α every subnet could one day have.

Volume and net flow

Volume is every τ that passed through a pool in 24 hours, from Taosis's own index of fills; net flow is what stayed, from the chain's own counter.

How buying α works

Buying α is a stake call against the subnet's pool: τ goes in, α comes out, and it is staked to a validator from the first block.

What a swap fee is

A per-subnet rate the pool takes on every trade, charged on what you send in — which is why the buy and sell depth figures never quite match.

Why figures differ between explorers

Same chain, different definitions: which price, which supply, which window, and whether a blank is allowed to stay blank.

Validator reliability

A track record cannot be backfilled, so this one says "insufficient" until it has genuinely watched long enough.

Deregistration risk

Registering a new subnet dissolves the weakest existing one. Here is how the queue is ordered and what it costs.

Conviction locks

Locking α builds conviction on a schedule set in the chain's own source — including the 18% takeover threshold.

Holder concentration

Three different questions about who holds a subnet — and why the numbers refuse to appear unless they reconcile.

How a subnet takeover works

One hotkey's matured conviction must clear 18% of a subnet's eligible α on its own, on a subnet at least a year old — a bar that moves as you watch it.

What a stake move is

Three chain events shift α between validators, subnets or wallets with no sale intended — and reading them as trades is how a chart lies about a wallet.

The deregistration queue

The queue is an ordering by the chain's moving price, not a forecast — how a rank is assigned, why it shifts without a trade, and what immunity does to it.

Staking safely

What you are actually signing when you stake through Taosis, and what Taosis can never do with it.

What Taosis can and cannot know

The one page to read first: why a blank is never a zero, and why some questions are refused outright.

How Taosis reads the chain

Storage items read on a cadence, events indexed as they happen, and series that begin the day the watching began — which is why every figure names its source.

How the screener columns are computed

Three kinds of column — read, derived and sampled — under two rules: a blank is never a zero, and root is not a market.

What a wallet page shows

Paste any address: Taosis says what kind of key it is, what it holds at today's prices, what it paid where it can prove it, and what happened to it.