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 9,474,196 · 07:01 UTC · runtime spec 488
Supply
Issued supply
11,711,482 τ
of 21,000,000 τ (55.77%)
Block reward
0.5000 τ
per day: 3,600 τ
Measured issuance
0.48121 τ/block
over 7d (blocks 9,423,807–9,474,196)
Recycled or burned
0.01879 τ/block
over 7d
Unissued
9,288,518 τ
44.23% of the cap
- Staked on root
- 5,488,634 τ · 46.9%
- In subnet pools
- 1,991,326 τ · 17.0%
- In wallets (not staked)
- 4,231,522 τ · 36.1%
Shares of the issued supply. Unissued, not in the bar: 9,288,518 τ.
| Window | Blocks | Issued τ/block | Recycled or burned τ/block |
|---|---|---|---|
| 200 blocks | 9,473,996 → 9,474,196 (200) | 0.497911 | 0.002089 |
| 24h | 9,467,006 → 9,474,196 (7,190) | 0.411325 | 0.088675 |
| 7d | 9,423,807 → 9,474,196 (50,389) | 0.481213 | 0.018787 |
Halving countdown
Next halving: #2 at 15,750,000 τ issued
4,038,518 τ to go · the block reward then falls to 0.2500 τ
- At the full reward:
- 6 Dec 2029
- At the measured rate (7d):
- 19 Jan 2030
Projection. Block time measured on the chain clock: 12.00 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.
| 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 | 6 Dec 2029 |
| H3 | 18,375,000 τ | 0.1250 τ | Upcoming | 3 Dec 2033 |
| H4 | 19,687,500 τ | 0.0625 τ | Upcoming | 1 Dec 2037 |
| H5 | 20,343,750 τ | 0.0313 τ | Upcoming | 28 Nov 2041 |
| H6 | 20,671,875 τ | 0.0156 τ | Upcoming | 26 Nov 2045 |
| H7 | 20,835,938 τ | 0.007813 τ | Upcoming | 23 Nov 2049 |
| H8 | 20,917,969 τ | 0.003906 τ | Upcoming | 21 Nov 2053 |
| H9 | 20,958,984 τ | 0.001953 τ | Upcoming | 19 Nov 2057 |
| H10 | 20,979,492 τ | 0.000977 τ | Upcoming | 16 Nov 2061 |
| H11 | 20,989,746 τ | 0.000488 τ | Upcoming | 14 Nov 2065 |
| H12 | 20,994,873 τ | 0.000244 τ | Upcoming | 11 Nov 2069 |
Subnet registration
Subnet registration cost: 153.40 τ
as of block 9,474,196 · 07:01 UTC
- Falls by 42.97 τ a day until 1.00 τ (block 9,499,731, ≈13 Nov 2026)
- Next registration allowed from block 9,485,498
- Price right after a registration: 306.79 τ (2× the price paid)
- Subnets: 128/128At capacity: a registration removes the lowest-ranked subnet
| If nobody registers, in | Block | Cost |
|---|---|---|
| 1 day (≈11 Nov 2026) | 9,481,395 | 110.43 τ |
| 7 days (≈17 Nov 2026) | 9,524,589 | 1.00 τ |
| 14 days (≈24 Nov 2026) | 9,574,982 | 1.00 τ |
| 30 days (≈10 Dec 2026) | 9,690,166 | 1.00 τ |
After each registration the price starts at twice what was paid, then falls in a straight line — the last lock ÷ 14,400 blocks, every block — until the floor. A projection at today's block reward; any registration resets it.
The runtime's registration price as Taosis sampled it (last sample of each UTC day), since 25 Sep 2026. 10 registrations in the window.
Data table
| Time (UTC) | Registration cost |
|---|---|
| 10 Nov 2026, 07:01 UTC | 153.4 τ |
| 9 Nov 2026, 23:56 UTC | 166.09 τ |
| 8 Nov 2026, 23:58 UTC | 350.32 τ |
| 7 Nov 2026, 23:55 UTC | 413.6 τ |
| 6 Nov 2026, 23:56 UTC | 476.75 τ |
| 5 Nov 2026, 23:56 UTC | 284.77 τ |
| 4 Nov 2026, 23:58 UTC | 343.51 τ |
| 3 Nov 2026, 23:59 UTC | 402.23 τ |
| 2 Nov 2026, 23:57 UTC | 461.13 τ |
| 1 Nov 2026, 23:56 UTC | 282.88 τ |
| 31 Oct 2026, 23:59 UTC | 339.4 τ |
| 30 Oct 2026, 23:57 UTC | 396.11 τ |
| 29 Oct 2026, 23:58 UTC | 452.72 τ |
| 28 Oct 2026, 23:58 UTC | 282.33 τ |
| 27 Oct 2026, 23:55 UTC | 338.62 τ |
| 26 Oct 2026, 23:55 UTC | 394.8 τ |
| 25 Oct 2026, 23:57 UTC | 227.69 τ |
| 24 Oct 2026, 23:56 UTC | 336.45 τ |
| 23 Oct 2026, 23:56 UTC | 445.11 τ |
| 22 Oct 2026, 23:55 UTC | 553.84 τ |
| 21 Oct 2026, 23:57 UTC | 662.36 τ |
| 20 Oct 2026, 23:55 UTC | 770.08 τ |
| 19 Oct 2026, 23:58 UTC | 444.99 τ |
| 18 Oct 2026, 23:55 UTC | 568.76 τ |
| 17 Oct 2026, 23:57 UTC | 692.05 τ |
| 16 Oct 2026, 23:59 UTC | 815.38 τ |
| 15 Oct 2026, 23:57 UTC | 939.07 τ |
| 14 Oct 2026, 23:57 UTC | 627.48 τ |
| 13 Oct 2026, 23:56 UTC | 848.76 τ |
| 12 Oct 2026, 23:55 UTC | 1,419 τ |
| 11 Oct 2026, 23:58 UTC | 1,530 τ |
| 10 Oct 2026, 23:56 UTC | 1,640 τ |
| 9 Oct 2026, 23:59 UTC | 1,751 τ |
| 8 Oct 2026, 23:59 UTC | 952.66 τ |
| 7 Oct 2026, 23:55 UTC | 1,034 τ |
| 6 Oct 2026, 23:56 UTC | 1,116 τ |
| 5 Oct 2026, 23:59 UTC | 1,198 τ |
| 4 Oct 2026, 23:56 UTC | 1,279 τ |
| 3 Oct 2026, 23:57 UTC | 705.79 τ |
| 2 Oct 2026, 23:56 UTC | 784.46 τ |
| 1 Oct 2026, 23:56 UTC | 863.04 τ |
| 30 Sep 2026, 23:59 UTC | 941.47 τ |
| 29 Sep 2026, 23:58 UTC | 1,020 τ |
| 28 Sep 2026, 23:55 UTC | 1,099 τ |
| 27 Sep 2026, 23:58 UTC | 1,177 τ |
| 26 Sep 2026, 23:59 UTC | 1,256 τ |
| 25 Sep 2026, 23:58 UTC | 691.03 τ |
Subnet registrations
| Subnet | Registered | Registration cost | Status |
|---|---|---|---|
| SN78waw | block 9,471,124 · 9 Nov 2026 | 85.94 τ | Current |
| SN99gani | block 9,447,220 · 6 Nov 2026 | 252.78 τ | Current |
| SN36Weir | block 9,420,559 · 2 Nov 2026 | 235.20 τ | Current |
| SN16bitads | block 9,392,863 · 29 Oct 2026 | 226.54 τ | Current |
| SN70Fugal | block 9,364,303 · 26 Oct 2026 | 224.64 τ | Current |
| SN103Terza Inference | block 9,321,589 · 20 Oct 2026 | 434.68 τ | Current |
| SN86OnSale | block 9,289,319 · 15 Oct 2026 | 493.99 τ | Current |
| SN92REAX | block 9,247,819 · 9 Oct 2026 | 884.38 τ | Current |
| SN116Carbon | block 9,210,632 · 4 Oct 2026 | 653.02 τ | Current |
| SN82Noah | block 9,155,260 · 26 Sep 2026 | 628.71 τ | Current |
| SN108ChipForge | block 9,111,253 · 20 Sep 2026 | 508.68 τ | Current |
| SN35Jacob Robert Steeves | 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 |
| SN36 | block 8,884,359 | 501.15 τ | Replaced at block 9,420,559 |
| SN70 | block 8,825,571 | 511.54 τ | Replaced at block 9,364,303 |
| SN103 | block 8,762,380 | 566.30 τ | Replaced at block 9,321,589 |
| SN86 | block 8,693,284 | 707.13 τ | Replaced at block 9,289,319 |
| SN90KubeTEE | block 8,618,670 | 1,003 τ | Current |
| SN99 | block 8,572,056 | 842.33 τ | Replaced at block 9,447,220 |
| SN58Attune | block 8,511,017 | 895.82 τ | Current |
| SN16 | block 8,460,646 | 795.93 τ | Replaced at block 9,392,863 |
| SN40Ralph | block 8,409,860 | 711.73 τ | Current |
| SN92 | block 8,352,006 | 714.88 τ | Replaced at block 9,247,819 |
| SN116 | block 8,294,730 | 710.88 τ | Replaced at block 9,210,632 |
| 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 |
| SN82 | block 8,026,517 | 509.10 τ | Replaced at block 9,155,260 |
| SN78 | block 7,966,145 | 534.84 τ | Replaced at block 9,471,124 |
| SN102ConnitoAI | block 7,840,965 | 658.95 τ | Current |
| SN97Ingot | 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 |
| SN113SN113 | block 7,119,664 | 248.37 τ | Current |
| SN94Cathedral | 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 |
| SN127Zils | 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 |
| SN112THOR | 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 |
| SN73Elenost | 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 |
| SN34Yugos | 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 |
| SN2DaniLabs | block 2,734,060 | — | Current |
| SN7Allways | block 2,627,691 | — | Current |
| SN24ms.computer | 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 |
| SN27Komms | 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.