TAO tokenomics

How much TAO exists and where it sits, what each block mints, when emission next halves, and what it costs to register a subnet. Every figure is read from the Bittensor chain at the block shown; the dates are projections and say what they hold constant.

as of block 9,145,920 · 16:26 UTC · runtime spec 470

Supply

Issued supply

11,551,674 τ

of 21,000,000 τ (55.01%)

Block reward

0.5000 τ

per day: 3,600 τ

Measured issuance

0.49645 τ/block

over 200 blocks (blocks 9,145,720–9,145,920)

Recycled or burned

0.00355 τ/block

over 200 blocks

Unissued

9,448,326 τ

44.99% of the cap

Staked on root: 5,458,886 τ · 47.3%
In subnet pools: 1,973,955 τ · 17.1%
In wallets (not staked): 4,118,833 τ · 35.7%

Shares of the issued supply. Unissued, not in the bar: 9,448,326 τ.

Measured TAO issuance per block, by window
Window	Blocks	Issued τ/block	Recycled or burned τ/block
200 blocks	9,145,720 → 9,145,920 (200)	0.496453	0.003547

Halving countdown

Next halving: #2 at 15,750,000 τ issued

4,198,326 τ to go · the block reward then falls to 0.2500 τ

At the full reward:: 9 Dec 2029
At the measured rate (200 blocks):: 17 Dec 2029

Projection. Block time measured on the chain clock: 12.05 s.

Emission halves each time issuance reaches 21M × (1 − 2⁻ᵏ): 10.5M, 15.75M, 18.375M τ… The date depends only on how fast TotalIssuance grows, so τ the chain recycles or burns pushes it later.

TAO halving schedule, H1 to H12
Halving	Issued at	Reward after	Status	Est. date (at full reward)
H1	10,500,000 τ	0.5000 τ	Passed	—
H2	15,750,000 τ	0.2500 τ	Next	9 Dec 2029
H3	18,375,000 τ	0.1250 τ	Upcoming	12 Dec 2033
H4	19,687,500 τ	0.0625 τ	Upcoming	15 Dec 2037
H5	20,343,750 τ	0.0313 τ	Upcoming	18 Dec 2041
H6	20,671,875 τ	0.0156 τ	Upcoming	21 Dec 2045
H7	20,835,938 τ	0.007813 τ	Upcoming	24 Dec 2049
H8	20,917,969 τ	0.003906 τ	Upcoming	27 Dec 2053
H9	20,958,984 τ	0.001953 τ	Upcoming	30 Dec 2057
H10	20,979,492 τ	0.000977 τ	Upcoming	2 Jan 2062
H11	20,989,746 τ	0.000488 τ	Upcoming	5 Jan 2066
H12	20,994,873 τ	0.000244 τ	Upcoming	9 Jan 2070

Subnet registration

Subnet registration cost: 710.99 τ

as of block 9,145,920 · 16:26 UTC

Falls by 63.58 τ a day until 1.00 τ (block 9,226,316, ≈6 Oct 2026)
Open now
Price right after a registration: 1,422 τ (2× the price paid)
Subnets: 128/128At capacity: a registration removes the lowest-ranked subnet

Projected registration cost if nobody registers
If nobody registers, in	Block	Cost
1 day (≈26 Sep 2026)	9,153,092	647.65 τ
7 days (≈2 Oct 2026)	9,196,123	267.64 τ
14 days (≈9 Oct 2026)	9,246,326	1.00 τ
30 days (≈25 Oct 2026)	9,361,076	1.00 τ

After each registration the price starts at twice what was paid, then falls in a straight line — the last lock ÷ 57,600 blocks, every block — until the floor. A projection at today's block reward; any registration resets it.

Registration cost

The runtime's registration price as Taosis sampled it (last sample of each UTC day), since 25 Sep 2026.

Data table

Time (UTC)	Registration cost
25 Sep 2026, 16:26 UTC	710.99 τ

Subnet registrations

Subnet registrations, newest first
Subnet	Registered	Registration cost	Status
SN108ChipForge	block 9,111,253 · 20 Sep 2026	508.68 τ	Current
SN35logic	block 9,046,691 · 11 Sep 2026	578.57 τ	Current
SN76Ormas	block 9,003,844 · 5 Sep 2026	460.58 τ	Current
SN59agent-arena	block 8,938,771	529.06 τ	Current
SN36Epago	block 8,884,359	501.15 τ	Current
SN70ghayn	block 8,825,571	511.54 τ	Current
SN103Capcomp	block 8,762,380	566.30 τ	Current
SN86kaunan	block 8,693,284	707.13 τ	Current
SN90KubeTEE	block 8,618,670	1,003 τ	Current
SN99Thirty Spokes	block 8,572,056	842.33 τ	Current
SN58SN58	block 8,511,017	895.82 τ	Current
SN16kenju	block 8,460,646	795.93 τ	Current
SN40Ralph	block 8,409,860	711.73 τ	Current
SN92Available	block 8,352,006	714.88 τ	Current
SN116Memo	block 8,294,730	710.88 τ	Current
SN122CookingTAO	block 8,238,082	699.33 τ	Current
SN69Herald	block 8,138,182	2,633 τ	Current
SN26Perturb	block 8,123,781	1,504 τ	Current
SN84ansuz	block 8,085,297	1,130 τ	Current
SN57gaia	block 8,057,320	745.94 τ	Current
SN82Compelle	block 8,026,517	509.10 τ	Current
SN78Umi	block 7,966,145	534.84 τ	Current
SN102ConnitoAI	block 7,840,965	658.95 τ	Current
SN97Albedo	block 7,735,450	560.77 τ	Current
SN96Verathos	block 7,692,872	444.77 τ	Current
SN91cascade	block 7,633,645	457.70 τ	Current
SN126Attelier	block 7,525,773	407.22 τ	Current
SN107Minos	block 7,457,580	498.99 τ	Current
SN15ORO	block 7,366,897	339.81 τ	Current
SN47GPUForge	block 7,340,355	315.10 τ	Current
SN114SOMA	block 7,312,241	307.77 τ	Current
SN38ChronoLLM	block 7,284,230	299.56 τ	Current
SN109Finsight	block 7,257,480	279.66 τ	Current
SN67Harnyx	block 7,236,936	217.35 τ	Current
SN87Provenonce	block 7,208,725	212.99 τ	Current
SN31rec4ll	block 7,173,591	273.05 τ	Current
SN80OpenRoboto	block 7,151,800	219.60 τ	Current
SN113LongShort	block 7,119,664	248.37 τ	Current
SN94pending...	block 6,962,737	242.18 τ	Current
SN105Beam	block 6,841,399	284.71 τ	Current
SN49Nepher Robotics	block 6,783,158	287.92 τ	Current
SN100Cortex	block 6,693,448	650.61 τ	Current
SN128ByteLeap	block 5,856,038	145.65 τ	Current
SN127Astrid	block 5,848,837	97.10 τ	Current
SN125Refinery	block 5,834,408	43.21 τ	Current
SN124Swarm	block 5,813,454	79.31 τ	Current
SN123MANTIS	block 5,794,330	118.03 τ	Current
SN121sundae_bar	block 5,766,528	111.99 τ	Current
SN120Affine	block 5,749,344	138.83 τ	Current
SN119CapabilityForge Next	block 5,740,660	99.38 τ	Current
SN118Ditto	block 5,724,794	110.64 τ	Current
SN117everyframe.studio	block 5,710,859	107.18 τ	Current
SN115MoirAI	block 5,683,635	98.00 τ	Current
SN112for sale	block 5,633,022	196.76 τ	Current
SN111Claims	block 5,615,562	249.86 τ	Current
SN110Green Compute	block 5,606,062	186.42 τ	Current
SN106Nodexo	block 5,558,480	133.59 τ	Current
SN104TAOstatus	block 5,528,520	147.97 τ	Current
SN101Tag101	block 5,481,350	205.98 τ	Current
SN98NeverPlayAlone	block 5,445,992	168.10 τ	Current
SN95Actual	block 5,403,674	210.60 τ	Current
SN93Bitcast	block 5,370,681	290.84 τ	Current
SN89InfiniteQuant	block 5,313,364	286.40 τ	Current
SN88Investing	block 5,299,805	270.60 τ	Current
SN85Vidaio	block 5,258,781	264.81 τ	Current
SN83CliqueAI	block 5,231,190	261.36 τ	Current
SN81Reliquary	block 5,203,057	249.79 τ	Current
SN79MVTRX	block 5,173,967	254.94 τ	Current
SN73Parked	block 5,160,047	246.71 τ	Current
SN77Liquidity	block 5,128,460	303.15 τ	Current
SN75Hippius	block 5,102,795	247.49 τ	Current
SN74Gittensor	block 5,086,205	291.87 τ	Current
SN72StreetVision by NATIX	block 5,064,327	191.34 τ	Current
SN71Leadpoet	block 5,048,438	213.41 τ	Current
SN68NOVA	block 4,972,413	199.77 τ	Current
SN66conjectures	block 4,958,013	65.23 τ	Current
SN65True Performance Network	block 4,950,813	37.27 τ	Current
SN63Enigma	block 4,885,578	—	Current
SN28SayGM	block 4,878,363	—	Current
SN14Cacheon	block 4,848,444	—	Current
SN60Bitsec.ai	block 4,796,992	—	Current
SN50Synth	block 4,763,204	—	Current
SN54Yanez	block 4,742,549	—	Current
SN55NIOME	block 4,703,386	—	Current
SN64Chutes	block 4,531,295	—	Current
SN62Ridges	block 4,474,225	—	Current
SN61RedTeam	block 4,457,976	—	Current
SN56Gradients	block 4,312,927	—	Current
SN53engy	block 4,203,869	—	Current
SN3Teutonic	block 4,165,565	—	Current
SN52Dojo	block 3,989,825	—	Current
SN51lium.io	block 3,966,206	—	Current
SN46Instant	block 3,919,107	—	Current
SN48Quantum Compute	block 3,856,677	—	Current
SN45AlphaRidge.ai	block 3,633,154	—	Current
SN42Unknown	block 3,613,591	—	Current
SN44Score	block 3,550,319	—	Current
SN34BitMind	block 3,493,948	—	Current
SN43Graphite	block 3,408,582	—	Current
SN41Almanac	block 3,394,182	—	Current
SN29hoτfloaτ	block 3,379,782	—	Current
SN39deprecated	block 3,280,104	—	Current
SN30Endure Network	block 3,250,216	—	Current
SN6Numinous	block 3,219,949	—	Current
SN37Aurelius	block 3,212,175	—	Current
SN21AdTAO	block 3,156,578	—	Current
SN25UR	block 2,998,801	—	Current
SN33ReadyAI	block 2,943,950	—	Current
SN11TrajectoryRL	block 2,918,568	—	Current
SN10Pareton	block 2,869,647	—	Current
SN17404—GEN	block 2,840,556	—	Current
SN2DSperse	block 2,734,060	—	Current
SN7Allways	block 2,627,691	—	Current
SN24Quasar	block 2,538,424	—	Current
SN32ItsAI	block 2,515,294	—	Current
SN5Hone	block 2,491,604	—	Current
SN12Compute Horde	block 2,256,433	—	Current
SN23Trishool	block 2,063,528	—	Current
SN22Desearch	block 2,009,702	—	Current
SN20Witness	block 1,970,929	—	Current
SN19blockmachine	block 1,956,072	—	Current
SN13Data Universe	block 1,907,637	—	Current
SN27Orion	block 1,727,132	—	Current
SN18Zeus	block 1,604,679	—	Current
SN1Apex	block 1,497,824	—	Current
SN9iota	block 1,489,797	—	Current
SN8Vanta	block 1,477,264	—	Current
SN4Targon	block 1,411,451	—	Current

Subnets dissolved before 25 Sep 2026 are not listed: the chain only holds the current subnet on each netuid.

Sources: SubtensorModule.TotalIssuance, SubnetTAO, the runtime's SubnetRegistrationRuntimeApi and the network registration storage, sampled by Taosis every few minutes. See also the markets overview and the staking return simulator.