Learn·Markets
Where the validator APR figure comes from
Observed dividends, net of take, annualised — one epoch on the subnet pages, a 24-hour median in the validators directory.
Published 2026-09-01 · updated 2026-09-10
Read from the chain, not from an API
Taosis reads each subnet's metagraph directly and takes the epoch's alpha dividends for each validator, net of that validator's take. Every APR on the site is built from those samples.
There is no third-party API in this path. That is deliberate: a market data provider having an outage used to be able to break the swap form itself.
The annualisation, stated plainly
The rate is r = D / (A − D), where D is the epoch's dividends and A the stake behind them. Annualising means compounding r over the number of epochs in a year.
We compute that in log space — growth = epochs × ln(1+r) — because the direct form overflows on a subnet with a short tempo. An implausible result is discarded rather than displayed.
Two windows, and which page uses which
On the screener, a subnet page, the compare table and the swap form's validator picker, the figure is the most recent epoch annualised. It is the freshest thing the chain will tell us, and it moves with every tempo.
In the validators directory the figure is the median of the last 24 hours of those samples, on that delegate's main subnet — the one holding its largest α stake by τ value, and only when that stake is worth at least 500 τ. One roughly 72-minute epoch annualised is weather; a day of them is closer to yield. Epochs in which it paid nothing are left out of that median rather than dragging it to zero. Blank there means no subnet with meaningful stake paid dividends in the window, which is not a claim of 0%.
What it is not
Both are extrapolations — one epoch, or a day of epochs. Neither is a promise, an average of a long history, or a track record.
A track record is a different question — whether a validator has actually paid, consistently — and Taosis answers it separately, refusing to answer at all until the series is long enough.