On-chain market structure · dTAO era

Bittensor Network Metrics

What subnets cost to register, how TAO and subnet alpha prices have moved, and how circulating TAO is split between root stake, subnet pools, and elsewhere.

Data as of 8 November 2026, 01:23 (London)Latest chain snapshot 8 Nov 2026, 01:23 (London, block 9,458,109)Source Bittensor chain + TaostatsCreator Siam Kidd

Subnet registrations

High registration cost means it is expensive to launch or replace a subnet. It is a rough read on how contested network slots are. Each dot is one registration and what it cost in TAO; costs jump after a registration and then decay, which draws the sawtooth.

409.8TAO

Registration cost now

252.8TAO

Last paid · SN99 on 6 Nov 2026

124

Registrations since dTAO

44,788TAO

Total paid since dTAO

Log scale. All 285 registrations since April 2023 are shown except 4 zero-cost ones from 2023, which a log scale can't plot (they're in the CSV). No subnets were registered from 25 Jun to 19 Oct 2025 because the network was full at 128 subnets. Registrations restarted once deregistration began. Cost is the lock cost Taostats records (/v1/subnets/registrations). Spot checks against chain storage (NetworkLastLockCost) matched within 0.02% in 5 of 6 cases. Current cost is read from the chain (the runtime's registration-cost call at block 9,458,109, 8 Nov 2026, 01:23 London).

TAO price against subnet alpha prices

Alpha is each subnet's own token, priced here in TAO. When alpha prices rise versus TAO, capital is rotating into subnets; when they fall, TAO is preferred. Prefer the median for a typical subnet, because a few expensive names can pull the average up.

$221.98

TAO price (latest)

0.0096TAO

Average alpha price

0.0041TAO

Median alpha price

1.225TAO

Sum of alpha prices

127

Active subnets counted

127 of 128 subnets counted (root excluded). SN99 is still in launch phase (startup mode), so its prices aren't counted yet. No empty slots, and no outliers in today's snapshot.

TAO/USD isn't stored on chain, so TAO price is the Taostats daily candle (/v1/price/ohlc): the 00:00 UTC price for daily points and the latest price for today. Alpha prices are each subnet's pool spot price read from the chain: one snapshot per day at the first block after 00:00 UTC, plus a live snapshot for today. Price is the pool's TAO reserve divided by its alpha reserve (SubnetTAO / SubnetAlphaIn, weighted by the Swap pallet's pool weight, about 50/50); while concentrated liquidity was live, it is the Swap pallet's AlphaSqrtPrice squared. Root (netuid 0) is excluded, and so are subnets still in startup mode (no FirstEmissionBlockNumber yet). Outlier filter: a pool is dropped for the day if its price is more than 20 times that day's median alpha price and fewer than 10 alpha tokens sit in its pool, which makes the price formula blow up. That removed 3 glitched pool readings across 3 days, all from freshly registered pools with almost no liquidity. Read from the Bittensor chain for 14 Feb 2025 to 8 Nov 2026. Chain values were checked against Taostats at the same blocks on 7 dates from Mar 2025 to Oct 2026: subnet prices, startup flags, counts, averages, sums, root stake, pool TAO and supply all matched to within 0.0001%. Median uses the same subnets as the average, outlier filter included; the filter changed the median on only 3 of 633 days, and never by much. The median sits well below the average because a few high-priced subnets pull the average up.

Where circulating TAO sits: root, pools, elsewhere

Root is shared "safe" stake, pools are TAO locked into subnet liquidity, and elsewhere is unstaked or sitting on exchanges and wallets. Root was 70.1% at dTAO launch and is 46.9% now; elsewhere moved from 29.9% to 36.1%. Rising pool share usually means deeper markets for alpha; a growing elsewhere share can mean dry powder on the sidelines, or capital leaving staking.

46.9%

On root (netuid 0)

17.0%

In subnet pools

36.1%

Elsewhere

4.23MTAO

Elsewhere

11.70MTAO

Circulating supply

Root = TAO staked on root (chain SubnetTAO for netuid 0). Subnet pools = TAO reserves in subnet liquidity pools (SubnetTAO, netuids 1 and up). Circulating = TotalIssuance. Elsewhere = circulating TAO minus root stake minus subnet pool TAO (clamped at 0). All four come from the same block, so the shares sum to 100%. Daily points use the first block after 00:00 UTC; the last point is a live snapshot. Read from the Bittensor chain for 14 Feb 2025 to 8 Nov 2026. Subnet pools count only TAO reserves, not the TAO value of alpha held by stakers.

How widespread are gains?

Share of subnets whose alpha price is higher than 30 days ago. Above 50% means most names are up: a broad bull tape. Below that, gains are concentrated in fewer subnets, so a strong average can hide a weak majority.

22.7%

Higher than 30 days ago

27 of 119

Subnets up vs 9 Oct 2026

25.0%

Average over last 30 days

27.0%

Share of days above 50%

Each day compares every subnet's alpha price with its price 30 calendar days earlier, using the daily chain snapshots (first block after 00:00 UTC; today's point is the live snapshot against 00:00 UTC 30 days earlier). A subnet is only counted if it has a price on both dates, wasn't in startup mode on either date and passed the outlier filter on both. Subnets whose netuid was re-registered between the two snapshots (its NetworkRegisteredAt block changed) are left out so we never compare two different projects. Unchanged prices count as not higher. The series starts on 16 Mar 2025, 30 days after dTAO launched. "Share of days above 50%" covers that whole period.

Compute subnet holder concentration

Same idea as holder concentration, but for compute subnets only. A high top-five share means a few wallets dominate the alpha. That means exit risk if they sell, and more owner influence over the subnet. As of 8 Nov 2026, 01:24 (London).

SN110 Green Compute

32.50%

SN64 Chutes

34.16%

SN4 Targon

40.51%

SN51 lium.io

43.24%

SN53 engy

43.52%

SN95 Actual

46.94%

SN90 KubeTEE

61.70%

SN47 GPUForge

73.51%

SN12 Compute Horde

76.89%

Per-subnet wallets

Top five unique wallets by share of circulating alpha. Same coldkey stakes are combined. "Owner" marks the subnet owner's coldkey.

01 · SN110 Green Compute

Top 532.50%

#	Address	Share
1	5HVkV9…	8.74%
2	5HAdjS…	8.04%
3	5Ebftb…	7.12%
4	5GPu4X…	5.17%
5	5Er6L6…	3.43%

02 · SN64 Chutes

Top 534.16%

#	Address	Share
1	Owner 5FRYKh…	21.04%
2	5HMtFE…	5.55%
3	5EJ92L…	4.14%
4	5EZU8T…	1.77%
5	5FZt2z…	1.67%

03 · SN4 Targon

Top 540.51%

#	Address	Share
1	Owner 5CXGPM…	27.18%
2	5HMtFE…	6.11%
3	5Fsaw8…	3.19%
4	5GBYUu…	2.31%
5	5FvcSV…	1.72%

04 · SN51 lium.io

Top 543.24%

#	Address	Share
1	Owner 5FqACM…	15.94%
2	5Hp6u6…	8.77%
3	5HMtFE…	8.25%
4	5EJ92L…	5.93%
5	5HVRMz…	4.34%

05 · SN53 engy

Top 543.52%

#	Address	Share
1	5GZJzC…	26.47%
2	5Hfzhn…	9.22%
3	Owner 5H8SFV…	3.82%
4	5H1zco…	2.10%
5	5H8n3B…	1.90%

06 · SN95 Actual

Top 546.94%

#	Address	Share
1	Owner 5D5UhU…	27.10%
2	5H8n3B…	6.74%
3	5FQEpg…	5.04%
4	5GqH8z…	4.77%
5	5E1z4G…	3.29%

07 · SN90 KubeTEE

Top 561.70%

#	Address	Share
1	Owner 5C9y6f…	26.33%
2	5FKdc9…	16.00%
3	5EYCAe…	11.22%
4	5Gxh84…	4.40%
5	5G62K9…	3.76%

08 · SN47 GPUForge

Top 573.51%

#	Address	Share
1	5FpiEY…	18.18%
2	5CXGvK…	18.06%
3	Owner 5D7yqC…	15.99%
4	5HRCJk…	10.71%
5	5CM4r1…	10.57%

09 · SN12 Compute Horde

Top 576.89%

#	Address	Share
1	Owner 5ELzhH…	68.42%
2	5GbURN…	2.99%
3	5GzuSU…	2.18%
4	5GjUb9…	1.66%
5	5HHF68…	1.64%

Gini & HHI rankings

Same compute set, sorted least → most concentrated on each metric.

Gini Coefficient (top 100 holders)

How evenly stake is distributed among the T100. Closer to 0 = more even. Closer to 1 = a few holders dominate.

SN	Name	Gini ↑
110	Green Compute	0.6738
64	Chutes	0.6896
53	engy	0.7123
95	Actual	0.7229
4	Targon	0.7321
51	lium.io	0.7495
90	KubeTEE	0.8159
12	Compute Horde	0.8687
47	GPUForge	0.8816

Herfindahl-Hirschman Index

How concentrated ownership is among the top 100 holders. Closer to 0 = spread across many wallets. Closer to 1 = a few wallets dominate.

SN	Name	HHI ↑
110	Green Compute	0.0285
51	lium.io	0.0467
64	Chutes	0.0512
4	Targon	0.0811
53	engy	0.0829
95	Actual	0.0887
90	KubeTEE	0.1154
47	GPUForge	0.1176
12	Compute Horde	0.4713

Live from the same chain holder scan as section 06 (block 9,458,115), refreshed every 6 hours. Shares are of circulating alpha (Taostats alpha_staked); Gini and HHI use the top 100 coldkeys, the same method as section 06.

Holder concentration across all subnets

A high top-five share means a few wallets dominate the supply. That means more exit risk if they dump, and more owner control. Lower concentration usually means a healthier, more distributed holder base. As of 8 Nov 2026, 01:24 (London).

127

Subnets screened

47.63%

Median top-5 share

39of 127

Top-5 ≥ 60%

SN2989.8%

Most concentrated

SN11114.5%

Least concentrated

Lowest top-5 share of circulating alpha.

SN	Name	Top 5	Gini T100
111	Claims	14.49%	0.502
118	Ditto	18.33%	0.506
44	Score	19.52%	0.526
85	Vidaio	23.06%	0.537
9	iota	23.57%	0.631
62	Ridges	24.73%	0.606
92	REAX	25.88%	0.511
71	Leadpoet	26.10%	0.550

Most concentrated

Highest top-5 share of circulating alpha.

SN	Name	Top 5	Gini T100
29	hoτfloaτ	89.76%	0.928
76	Ormas	89.41%	0.951
43	Graphite	88.28%	0.915
86	OnSale	88.01%	0.949
104	TAOstatus	85.55%	0.922
69	Herald	84.37%	0.943
82	Noah	83.68%	0.929
59	Unknown	82.00%	0.924

Full screen

Click a column to sort. Rows with top-5 ≥ 60% are highlighted.

#	SN	Name	Top 5	Top 1	Gini T100	HHI T100	Holders	Mcap TAO
1	111	Claims	14.49%	3.74%	0.5018	0.0141	1,311	18,393
2	118	Ditto	18.33%	4.94%	0.5058	0.0143	1,814	10,932
3	44	Score	19.52%	7.37%	0.5263	0.0121	6,171	187,315
4	85	Vidaio	23.06%	6.10%	0.5372	0.0168	2,326	21,883
5	9	iota	23.57%	6.41%	0.6306	0.0190	5,594	123,493
6	62	Ridges	24.73%	7.52%	0.6060	0.0172	5,296	42,956
7	92	REAX	25.88%	10.03%	0.5112	0.0218	761	13,961
8	71	Leadpoet	26.10%	8.20%	0.5502	0.0207	2,036	19,103
9	94	Cathedral	26.83%	9.07%	0.5651	0.0257	1,082	7,246
10	27	Komms	27.92%	10.23%	0.5248	0.0245	1,568	11,103
11	34	Yugos	29.46%	9.40%	0.7449	0.0316	2,553	69,178
12	21	AdTAO	29.76%	10.02%	0.5514	0.0257	1,590	23,641
13	3	Teutonic	30.56%	18.20%	0.6468	0.0401	4,220	125,189
14	33	ReadyAI	31.07%	15.73%	0.6024	0.0359	1,730	15,495
15	24	ms.computer	31.10%	11.07%	0.6221	0.0303	2,338	68,758
16	54	Yanez	31.21%	15.79%	0.6530	0.0385	1,991	30,466
17	106	Nodexo	31.77%	12.36%	0.6197	0.0335	1,415	9,351
18	110	Green Compute	32.50%	8.74%	0.6738	0.0285	2,098	96,195
19	55	NIOME	32.72%	11.47%	0.6283	0.0335	1,789	11,795
20	80	OpenRoboto	32.90%	13.73%	0.6578	0.0371	1,978	33,096
21	105	Beam	33.27%	13.82%	0.6816	0.0368	3,890	13,943
22	115	MoirAI	33.75%	10.54%	0.6223	0.0364	977	5,178
23	64	Chutes	34.16%	21.04%	0.6896	0.0512	12,597	430,678
24	28	SayGM	35.23%	11.43%	0.6841	0.0332	2,738	139,671
25	41	Almanac	35.24%	14.87%	0.6583	0.0373	2,588	53,711
26	50	Synth	36.04%	19.83%	0.5962	0.0526	2,312	17,772
27	112	THOR	36.05%	21.45%	0.6488	0.0580	1,219	25,312
28	75	Hippius	36.25%	11.02%	0.7129	0.0354	3,931	86,126
29	15	ORO	36.73%	20.30%	0.7443	0.0514	2,240	39,952
30	78	Umi	36.83%	11.17%	0.7596	0.0411	1,466	1,717
31	66	conjectures	36.91%	21.43%	0.6063	0.0569	1,794	12,207
32	120	Affine	37.15%	14.97%	0.7028	0.0393	4,776	189,456
33	102	ConnitoAI	38.23%	17.48%	0.7593	0.0496	1,381	7,588
34	107	Minos	38.40%	27.96%	0.7735	0.0823	2,371	62,420
35	30	Endure Network	38.95%	20.19%	0.6533	0.0571	1,301	19,158
36	87	Provenonce	39.08%	15.76%	0.6798	0.0476	1,123	4,508
37	19	blockmachine	39.31%	16.28%	0.6818	0.0453	2,689	44,580
38	68	NOVA	39.92%	16.09%	0.7036	0.0520	3,689	95,959
39	119	CapabilityForge Next	40.24%	15.24%	0.6715	0.0495	997	4,933
40	114	SOMA	40.42%	29.61%	0.6685	0.0922	1,653	39,869
41	4	Targon	40.51%	27.18%	0.7321	0.0811	7,764	344,885
42	70	Fugal	40.58%	11.83%	0.7641	0.0452	164	892
43	109	Finsight	40.95%	24.20%	0.6878	0.0731	1,189	3,138
44	42	Unknown	41.18%	14.42%	0.6806	0.0469	1,490	12,127
45	93	Bitcast	41.27%	28.58%	0.7242	0.0886	3,397	65,177
46	61	RedTeam	41.35%	18.53%	0.6832	0.0538	2,122	30,118
47	39	deprecated	41.64%	12.65%	0.7061	0.0478	1,614	33,469
48	127	Zils	41.95%	27.08%	0.6515	0.0841	1,247	9,666
49	23	Trishool	42.19%	16.04%	0.7263	0.0514	1,589	36,412
50	13	Data Universe	42.43%	20.92%	0.6933	0.0618	2,302	22,113
51	46	Instant	42.58%	16.87%	0.7015	0.0541	2,377	16,417
52	117	everyframe.studio	43.22%	10.80%	0.6779	0.0445	1,273	17,298
53	51	lium.io	43.24%	15.94%	0.7495	0.0467	7,231	637,513
54	53	engy	43.52%	26.47%	0.7123	0.0829	3,254	171,732
55	81	Reliquary	43.60%	17.53%	0.6773	0.0639	1,607	24,917
56	65	True Performance Network	44.01%	13.02%	0.6795	0.0491	1,667	13,259
57	74	Gittensor	44.43%	14.91%	0.7661	0.0608	1,229	18,573
58	113	Unknown	44.78%	30.16%	0.6884	0.1023	1,078	3,754
59	8	Vanta	45.48%	33.17%	0.7409	0.1166	4,410	190,075
60	18	Zeus	46.06%	21.80%	0.7320	0.0707	1,865	20,557
61	38	ChronoLLM	46.92%	28.27%	0.7899	0.0929	1,242	11,326
62	95	Actual	46.94%	27.10%	0.7229	0.0887	1,969	80,653
63	10	Pareton	46.98%	17.31%	0.7318	0.0598	2,182	23,029
64	6	Numinous	47.63%	23.98%	0.7016	0.0776	1,943	12,804
65	56	Gradients	47.73%	16.65%	0.7532	0.0674	4,097	81,296
66	97	Ingot	47.80%	36.33%	0.8481	0.1373	1,909	24,191
67	100	Cortex	49.18%	16.43%	0.7388	0.0687	1,495	7,043
68	25	UR	49.34%	25.27%	0.7372	0.0913	1,574	21,882
69	60	Bitsec.ai	49.40%	27.38%	0.6974	0.0971	1,784	15,362
70	1	Apex	49.88%	17.16%	0.7371	0.0678	2,371	32,154
71	32	ItsAI	50.14%	26.40%	0.8001	0.0946	1,302	15,688
72	72	StreetVision by NATIX	50.31%	32.69%	0.7076	0.1199	1,092	10,665
73	7	Allways	53.01%	18.46%	0.7396	0.0804	1,207	12,986
74	11	TrajectoryRL	53.22%	18.79%	0.7504	0.0745	2,028	34,477
75	5	Hone	54.29%	16.78%	0.8028	0.0727	2,367	57,106
76	125	Refinery	54.53%	28.18%	0.7198	0.1027	965	8,087
77	17	404-GEN	54.75%	28.48%	0.8077	0.1059	1,962	39,292
78	124	Swarm	55.24%	20.84%	0.8071	0.0805	1,488	36,298
79	123	MANTIS	55.41%	42.04%	0.7350	0.1839	1,455	9,864
80	2	DaniLabs	55.93%	39.62%	0.7694	0.1687	1,629	20,495
81	63	Enigma	56.01%	27.84%	0.7960	0.1115	1,683	23,675
82	88	Investing	56.60%	32.33%	0.7438	0.1230	1,788	13,390
83	37	Aurelius	56.60%	25.47%	0.7330	0.0991	1,254	13,036
84	91	cascade	58.54%	41.79%	0.7656	0.1838	1,239	6,569
85	14	Cacheon	58.61%	47.47%	0.8329	0.2307	2,469	47,164
86	49	Nepher Robotics	58.67%	37.01%	0.8248	0.1526	1,285	13,472
87	48	Quantum Compute	58.71%	24.03%	0.8014	0.1128	1,721	46,862
88	96	Verathos	59.24%	17.40%	0.8225	0.0844	1,183	4,023
89	103	Terza Inference	60.06%	23.01%	0.8496	0.1108	140	921
90	58	Attune	61.49%	34.30%	0.8198	0.1425	646	10,070
91	90	KubeTEE	61.70%	26.33%	0.8159	0.1154	724	14,799
92	26	Perturb	62.32%	24.15%	0.8595	0.1066	899	2,625
93	45	AlphaRidge.ai	62.41%	34.31%	0.7945	0.1420	1,290	10,788
94	20	Witness	63.13%	47.86%	0.7701	0.2382	1,086	11,077
95	83	CliqueAI	63.51%	26.88%	0.8835	0.1151	1,105	26,712
96	126	Attelier	64.26%	47.51%	0.8849	0.2360	1,133	7,093
97	40	Ralph	65.24%	51.82%	0.9253	0.2802	819	2,158
98	101	Tag101	65.52%	52.01%	0.8614	0.2780	1,080	9,327
99	67	Harnyx	65.85%	57.30%	0.8644	0.3318	1,255	4,597
100	73	Elenost	66.49%	26.89%	0.8360	0.1275	975	10,733
101	36	Weir	66.97%	33.65%	0.8996 T76	0.1477	76	838
102	16	Unknown	67.47%	30.94%	0.9256 T58	0.1779	58	238
103	98	NeverPlayAlone	68.06%	50.76%	0.8121	0.2692	939	8,449
104	128	ByteLeap	68.25%	27.26%	0.8430	0.1283	913	12,720
105	35	Unknown	70.42%	36.99%	0.8939	0.1868	132	307
106	22	Desearch	71.26%	44.62%	0.8088	0.2266	1,277	14,199
107	47	GPUForge	73.51%	18.18%	0.8816	0.1176	945	2,599
108	31	rec4ll	73.72%	50.21%	0.8673	0.2803	933	6,084
109	84	Unknown	73.80%	39.83%	0.9147	0.1972	815	3,217
110	116	Carbon	74.30%	27.52%	0.8659	0.1508	278	8,376
111	79	MVTRX	75.10%	63.35%	0.8743	0.4062	1,431	14,845
112	77	Liquidity	75.76%	66.13%	0.9400	0.4416	1,062	26,674
113	121	sundae_bar	75.89%	37.35%	0.8501	0.1844	1,150	10,938
114	12	Compute Horde	76.89%	68.42%	0.8687	0.4713	1,148	22,605
115	122	CookingTAO	77.58%	44.03%	0.9136	0.2270	853	2,581
116	89	InfiniteQuant	79.20%	33.78%	0.9055	0.1972	1,305	13,477
117	108	ChipForge	79.94%	33.19%	0.9198	0.2147	173	1,170
118	52	Dojo	80.59%	46.09%	0.8769	0.2661	1,414	30,045
119	57	Unknown	80.98%	70.56%	0.9457	0.5039	812	2,473
120	59	Unknown	82.00%	32.75%	0.9235 T79	0.1891	79	1,615
121	82	Noah	83.68%	22.46%	0.9293 T93	0.1578	93	12,454
122	69	Herald	84.37%	75.44%	0.9427	0.5718	858	8,744
123	104	TAOstatus	85.55%	34.96%	0.9221	0.2270	645	17,972
124	86	OnSale	88.01%	43.04%	0.9493 T78	0.3365	78	417
125	43	Graphite	88.28%	41.83%	0.9151	0.2886	993	21,054
126	76	Ormas	89.41%	46.25%	0.9514	0.3142	126	1,221
127	29	hoτfloaτ	89.76%	42.78%	0.9278	0.3527	1,031	14,411

Wallet balances are read from the Bittensor chain at block 9,458,115 (8 Nov 2026, 01:24 London): every stake on every subnet (AlphaV2 shares converted to alpha with each hotkey's TotalHotkeyAlpha and TotalHotkeySharesV2), combined by coldkey. Shares are of circulating alpha as Taostats reports it (alpha_staked); the chain's own staked-alpha total runs 1 to 13% lower on large subnets, so the Taostats figure is kept as the denominator. With it, chain balances reproduce Taostats' top-5 shares to within about 0.3%. Gini T100 is measured across the top 100 coldkeys. HHI T100 is the sum of their squared shares of circulating alpha, which makes it a floor on full-population HHI. Holders = coldkeys with any alpha staked on the subnet. Section 05 now uses the same data and method. Market cap is from Taostats. Excluded (startup mode or no stake): SN99. T<100 tag = fewer than 100 unique coldkeys.

Realised sell pressure

More TAO sold out of subnet pools than bought in means dumping pressure. A single day says little; a run of days with sells above buys, or a rising sell share, is the trend to watch. The chart shows daily TAO volume across all subnet pools, 9 Sep 2026 to 7 Nov 2026 (UTC days). The figures and tables below cover the 24 hours to 8 Nov 2026, 01:24 (London).

Daily buy vs sell volume

Bars are TAO bought into and sold out of subnet pools each day. The line is the net TAO flow (buys minus sells) or, if you switch it, the sell share of volume, with a dashed 7-day average. Pick a subnet to see its own trend.

View

Per-subnet history started on 11 Oct 2026. It fills in with every 6-hourly refresh, one point per UTC day (the 24 hours to that day's last refresh).

Last 24 hours

Snapshot to 8 Nov 2026, 01:24 (London).

44,458τ

24h buy volume

44,754τ

24h sell volume

−296τ

Net TAO flow

50.2%

Sell share of volume

82of 127

Subnets in net outflow

Largest net TAO outflow

Sell minus buy volume in TAO, and the outflow as a % of TAO in the pool.

SN	Name	Sold TAO	Bought TAO	Net TAO	% pool
44	Score	925	518	−407	−0.64%
75	Hippius	724	361	−363	−1.09%
21	AdTAO	905	556	−349	−4.11%
50	Synth	656	407	−248	−2.72%
117	everyframe.studio	443	195	−247	−5.55%
81	Reliquary	689	449	−240	−1.46%
127	Zils	465	269	−196	−5.67%
105	Beam	362	193	−168	−3.60%
11	TrajectoryRL	200	43	−157	−0.82%
65	True Performance Network	650	519	−131	−2.12%
15	ORO	437	318	−119	−0.87%
120	Affine	434	317	−117	−0.15%

Highest sell share

Subnets with ≥ 100 τ of 24h volume, ranked by sells as a share of TAO volume.

SN	Name	Vol TAO	Sell %	Net TAO	Sells/Buys
109	Finsight	130	88.1%	−99	12/9
11	TrajectoryRL	243	82.3%	−157	16/13
78	Umi	119	81.7%	−75	80/14
2	DaniLabs	132	77.1%	−72	10/18
42	Unknown	124	70.7%	−51	13/4
117	everyframe.studio	638	69.4%	−247	48/37
55	NIOME	275	67.2%	−94	51/10
75	Hippius	1,085	66.7%	−363	149/57
90	KubeTEE	267	65.9%	−85	53/23
105	Beam	555	65.2%	−168	54/28
7	Allways	140	64.4%	−40	9/3
44	Score	1,443	64.1%	−407	116/81

All 127 subnets (sortable)

SN	Name	Bought TAO	Sold TAO	Net TAO	Sell %	Net % pool	Sells	Buys	Sellers
44	Score	518	925	−407	64.1%	−0.64%	116	81	72
75	Hippius	361	724	−363	66.7%	−1.09%	149	57	124
21	AdTAO	556	905	−349	62.0%	−4.11%	91	48	60
50	Synth	407	656	−248	61.7%	−2.72%	66	47	26
117	everyframe.studio	195	443	−247	69.4%	−5.55%	48	37	30
81	Reliquary	449	689	−240	60.5%	−1.46%	82	38	34
127	Zils	269	465	−196	63.4%	−5.67%	72	48	43
105	Beam	193	362	−168	65.2%	−3.60%	54	28	39
11	TrajectoryRL	43	200	−157	82.3%	−0.82%	16	13	12
65	True Performance Network	519	650	−131	55.6%	−2.12%	62	52	35
15	ORO	318	437	−119	57.9%	−0.87%	84	38	43
120	Affine	317	434	−117	57.8%	−0.15%	69	29	41
116	Carbon	228	342	−114	60.0%	−6.90%	58	50	30
109	Finsight	16	115	−99	88.1%	−8.61%	12	9	8
30	Endure Network	233	332	−99	58.8%	−1.13%	43	19	33
55	NIOME	90	185	−94	67.2%	−1.61%	51	10	13
80	OpenRoboto	208	299	−91	59.0%	−1.81%	65	108	44
102	ConnitoAI	126	216	−90	63.2%	−2.93%	48	18	31
90	KubeTEE	91	176	−85	65.9%	−1.55%	53	23	17
25	UR	210	294	−85	58.4%	−0.81%	24	15	16
118	Ditto	194	271	−78	58.3%	−1.72%	86	19	23
78	Umi	22	97	−75	81.7%	−9.70%	80	14	55
2	DaniLabs	30	102	−72	77.1%	−0.82%	10	18	10
42	Unknown	36	88	−51	70.7%	−0.73%	13	4	13
97	Ingot	0	51	−50	99.9%	−0.47%	24	2	10
33	ReadyAI	82	127	−45	60.7%	−0.38%	120	4	30
68	NOVA	287	328	−41	53.3%	−0.10%	39	32	30
7	Allways	50	90	−40	64.4%	−0.74%	9	3	8
74	Gittensor	225	266	−40	54.1%	−0.63%	25	34	19
6	Numinous	10	50	−40	83.4%	−0.56%	17	3	9
56	Gradients	8	42	−34	84.1%	−0.07%	18	6	15
93	Bitcast	531	565	−34	51.5%	−0.15%	96	44	70
121	sundae_bar	4	37	−33	90.8%	−0.62%	9	5	7
106	Nodexo	10	40	−30	80.1%	−0.54%	9	4	6
113	Unknown	202	232	−30	53.5%	−1.82%	19	28	14
9	iota	30	58	−28	65.7%	−0.05%	202	14	143
63	Enigma	77	102	−26	57.2%	−0.23%	12	6	11
62	Ridges	19	44	−24	69.4%	−0.10%	35	81	26
124	Swarm	0	24	−24	99.7%	−0.21%	26	2	15
46	Instant	281	305	−24	52.0%	−0.29%	46	24	28
83	CliqueAI	0	23	−22	99.9%	−0.29%	86	1	9
31	rec4ll	1,966	1,987	−22	50.3%	−1.27%	54	31	24
60	Bitsec.ai	97	118	−22	55.0%	−0.36%	12	13	11
77	Liquidity	0	16	−16	99.9%	−0.14%	14	1	8
17	404-GEN	0	15	−15	99.2%	−0.07%	9	2	7
110	Green Compute	650	664	−14	50.5%	−0.10%	104	90	63
37	Aurelius	0	14	−13	99.9%	−0.19%	19	1	6
73	Elenost	0	12	−12	100.0%	−0.20%	20	0	8
38	ChronoLLM	87	97	−10	52.6%	−0.20%	20	13	16
67	Harnyx	0	9	−9	99.9%	−0.39%	108	1	26
1	Apex	39	46	−7	54.1%	−0.03%	48	61	15
39	deprecated	0	7	−7	100.0%	−0.04%	6	0	5
72	StreetVision by NATIX	15	21	−6	58.7%	−0.10%	3	2	3
10	Pareton	0	6	−6	99.7%	−0.04%	3	1	3
103	Terza Inference	20	26	−6	56.2%	−1.18%	14	9	8
96	Verathos	0	6	−6	99.0%	−0.26%	10	2	10
45	AlphaRidge.ai	0	5	−5	99.8%	−0.09%	222	1	7
13	Data Universe	0	5	−5	98.7%	−0.03%	255	2	118
101	Tag101	0	5	−5	99.7%	−0.15%	105	1	17
16	Unknown	4	9	−5	70.4%	−2.69%	20	4	1
34	Yugos	0	5	−5	98.7%	−0.01%	8	2	7
86	OnSale	0	4	−4	100.0%	−1.52%	20	0	1
5	Hone	54	58	−4	51.8%	−0.01%	91	8	18
94	Cathedral	35	38	−4	52.4%	−0.17%	9	7	9
36	Weir	3	7	−3	67.1%	−0.94%	9	11	7
95	Actual	89	92	−3	50.7%	−0.01%	14	13	12
12	Compute Horde	0	3	−3	99.9%	−0.02%	2	1	2
69	Herald	0	2	−2	100.0%	−0.07%	5	0	4
89	InfiniteQuant	0	2	−2	99.4%	−0.04%	62	1	34
47	GPUForge	0	2	−2	99.7%	−0.22%	4	1	2
57	Unknown	0	2	−2	100.0%	−0.16%	2	0	2
20	Witness	0	2	−2	99.4%	−0.03%	2	1	2
82	Noah	0	2	−2	99.8%	−0.07%	5	1	4
59	Unknown	0	1	−1	100.0%	−0.18%	2	0	2
123	MANTIS	5	6	−1	55.0%	−0.02%	23	3	16
122	CookingTAO	0	1	−1	98.8%	−0.09%	4	1	3
125	Refinery	0	1	−1	98.2%	−0.01%	5	1	5
108	ChipForge	3	3	−0	53.0%	−0.07%	3	1	3
52	Dojo	0	0	−0	100.0%	−0.00%	6	0	4
43	Graphite	0	0	−0	69.6%	−0.00%	2	1	2
84	Unknown	0	0	−0	100.0%	−0.00%	1	0	1
40	Ralph	0	0	−0	65.3%	−0.00%	1	1	1
98	NeverPlayAlone	0	0	+0	17.4%	+0.00%	1	1	1
29	hoτfloaτ	0	0	+0	17.3%	+0.00%	1	1	1
104	TAOstatus	0	0	+0	17.3%	+0.00%	1	1	1
58	Attune	257	257	+0	50.0%	+0.01%	27	45	17
27	Komms	107	107	+0	49.9%	+0.00%	11	20	11
66	conjectures	20	20	+1	49.3%	+0.01%	10	7	9
26	Perturb	3	2	+1	36.7%	+0.10%	2	7	2
35	Unknown	56	55	+2	49.3%	+0.75%	16	19	10
87	Provenonce	51	49	+2	49.1%	+0.14%	12	10	11
61	RedTeam	433	428	+6	49.7%	+0.06%	101	28	68
128	ByteLeap	92	83	+9	47.5%	+0.21%	13	32	12
19	blockmachine	451	442	+9	49.5%	+0.03%	31	30	25
91	cascade	281	270	+11	49.0%	+0.36%	32	31	25
126	Attelier	22	9	+13	29.2%	+0.53%	8	2	8
18	Zeus	25	8	+17	24.4%	+0.18%	9	4	8
54	Yanez	622	605	+17	49.3%	+0.18%	128	50	52
71	Leadpoet	93	75	+17	44.8%	+0.35%	14	9	12
32	ItsAI	182	163	+19	47.2%	+0.29%	54	15	41
22	Desearch	33	14	+19	29.8%	+0.27%	74	4	12
119	CapabilityForge Next	96	77	+20	44.3%	+0.65%	12	34	8
115	MoirAI	82	62	+20	43.1%	+0.61%	8	29	5
88	Investing	227	202	+25	47.1%	+0.45%	28	26	18
79	MVTRX	43	18	+25	29.1%	+0.37%	256	4	33
76	Ormas	2,132	2,102	+31	49.6%	+7.58%	46	86	18
14	Cacheon	95	64	+31	40.4%	+0.12%	21	9	10
49	Nepher Robotics	50	13	+37	20.9%	+0.93%	4	6	4
70	Fugal	447	404	+43	47.5%	+11.70%	1592	180	79
23	Trishool	656	610	+46	48.2%	+0.47%	46	52	30
114	SOMA	164	108	+56	39.7%	+0.59%	15	13	14
111	Claims	198	141	+57	41.6%	+1.03%	16	25	15
3	Teutonic	120	60	+59	33.5%	+0.09%	54	30	18
48	Quantum Compute	146	83	+63	36.2%	+0.41%	25	33	24
53	engy	5,314	5,248	+65	49.7%	+0.18%	200	246	105
85	Vidaio	427	315	+112	42.4%	+0.95%	18	22	14
100	Cortex	501	384	+118	43.3%	+5.03%	59	68	46
64	Chutes	967	848	+119	46.7%	+0.06%	117	85	56
4	Targon	1,549	1,341	+208	46.4%	+0.15%	104	103	56
41	Almanac	2,100	1,884	+216	47.3%	+1.16%	224	120	172
112	THOR	700	483	+217	40.8%	+3.10%	32	76	24
8	Vanta	544	251	+293	31.6%	+0.33%	36	69	29
92	REAX	3,821	3,481	+341	47.7%	+7.29%	649	698	185
51	lium.io	3,054	2,678	+376	46.7%	+0.19%	202	207	107
107	Minos	2,489	2,016	+473	44.8%	+2.36%	128	156	72
24	ms.computer	1,859	1,352	+507	42.1%	+3.29%	83	130	52
28	SayGM	3,431	2,854	+578	45.4%	+2.16%	327	206	153

Volumes are in TAO (Taostats returns rao; ÷1e9). Unit check on SN64: 24h TAO volume / alpha volume = 0.0676 against a pool price of 0.0677 τ. Network totals cover 127 subnets with trades; startup-mode subnets are excluded. Sells/Buys are trade counts. Trend chart: network bars are Taostats daily TAO stake (buy) and unstake (sell) volume summed over all subnet pools (netuid above 0, UTC days, the current part-day left out), so they also include startup-mode pools and can differ slightly from the 24h totals here. Subnet views come from this page's own 6-hourly snapshots.

Cross-subnet correlation

If alphas move together, diversification across subnets is weaker than it looks. A basket of correlated names behaves more like one bet. Low correlation means more idiosyncratic moves and truer diversification. 30 daily returns, 9 Oct – 8 Nov 2026 (London).

1.7%

Median pairwise correlation

6.4%

Avg corr to alpha basket

0.1%

Avg corr to TAO/USD

7of 780

Pairs ≥ 50%

Pairs ≥ 70%

Heatmap · top 20 by market cap

Pairwise correlation of daily returns, in %. Gold = positive, teal = negative.

	51	64	4	8	44	120	53	28	9	3	95	110	68	75	56	93	24	5	107	34
SN51 lium.io	n/a	21	5	13	-38	-24	-15	-4	-5	-7	36	-1	-31	6	6	-36	0	-6	-15	18
SN64 Chutes	21	n/a	11	58	-10	25	-4	-31	52	22	-4	-29	12	-12	40	17	-32	13	-10	-23
SN4 Targon	5	11	n/a	-23	9	27	-7	18	0	16	9	-17	-30	2	-31	-20	8	-3	7	8
SN8 Vanta	13	58	-23	n/a	-19	1	-10	-30	30	-6	-24	-34	12	-9	36	4	-20	0	-23	-17
SN44 Score	-38	-10	9	-19	n/a	23	-18	-8	16	3	-13	-3	8	-12	7	15	8	8	44	9
SN120 Affine	-24	25	27	1	23	n/a	3	18	11	21	-30	-13	-13	-15	-5	11	-24	-14	0	-4
SN53 engy	-15	-4	-7	-10	-18	3	n/a	35	-2	8	7	3	16	-1	-9	10	27	-19	-1	-3
SN28 SayGM	-4	-31	18	-30	-8	18	35	n/a	-22	20	8	22	-21	-7	-30	13	30	-32	-9	-13
SN9 iota	-5	52	0	30	16	11	-2	-22	n/a	49	2	-24	10	15	19	13	-24	15	7	1
SN3 Teutonic	-7	22	16	-6	3	21	8	20	49	n/a	-26	-19	12	25	1	10	23	-6	21	7
SN95 Actual	36	-4	9	-24	-13	-30	7	8	2	-26	n/a	16	-5	21	-4	9	-17	10	-9	5
SN110 Green Comput	-1	-29	-17	-34	-3	-13	3	22	-24	-19	16	n/a	-4	12	-25	22	3	-3	3	-4
SN68 NOVA	-31	12	-30	12	8	-13	16	-21	10	12	-5	-4	n/a	6	8	8	-18	-12	24	-19
SN75 Hippius	6	-12	2	-9	-12	-15	-1	-7	15	25	21	12	6	n/a	-10	-2	-5	-21	-3	16
SN56 Gradients	6	40	-31	36	7	-5	-9	-30	19	1	-4	-25	8	-10	n/a	22	0	15	-2	-27
SN93 Bitcast	-36	17	-20	4	15	11	10	13	13	10	9	22	8	-2	22	n/a	15	47	10	-65
SN24 ms.computer	0	-32	8	-20	8	-24	27	30	-24	23	-17	3	-18	-5	0	15	n/a	8	7	-20
SN5 Hone	-6	13	-3	0	8	-14	-19	-32	15	-6	10	-3	-12	-21	15	47	8	n/a	24	-28
SN107 Minos	-15	-10	7	-23	44	0	-1	-9	7	21	-9	3	24	-3	-2	10	7	24	n/a	0
SN34 Yugos	18	-23	8	-17	9	-4	-3	-13	1	7	5	-4	-19	16	-27	-65	-20	-28	0	n/a

Co-moving groups

Average-linkage groups with mean pairwise correlation ≥ 50%. No pair reaches 70%.

Group	Avg corr
SN51 lium.io · SN39 deprecated	55.8%
SN3 Teutonic · SN62 Ridges · SN19 blockmachine	52.2%
SN110 Green Compute · SN112 THOR	51.2%
SN41 Almanac · SN124 Swarm	50.0%

Most correlated pairs

Highest pairwise correlation among the 40 subnets.

Pair	Corr
SN64 Chutes · SN8 Vanta	58.1%
SN3 Teutonic · SN62 Ridges	57.6%
SN51 lium.io · SN39 deprecated	55.8%
SN64 Chutes · SN9 iota	51.6%
SN110 Green Compute · SN112 THOR	51.2%
SN19 blockmachine · SN62 Ridges	50.3%
SN41 Almanac · SN124 Swarm	50.0%
SN9 iota · SN3 Teutonic	49.4%

Factor exposure · 40 subnets

Alpha basket = equal-weight average of the other 39 subnets' returns. Click a column to sort.

SN	Name	Corr alpha basket	Corr TAO/USD	30d return in TAO	Daily vol
51	lium.io	18.5%	-6.5%	+24.3%	2.6%
64	Chutes	0.2%	-26.3%	−2.9%	0.6%
4	Targon	8.6%	-7.3%	+12.5%	1.7%
8	Vanta	-21.9%	-37.4%	+13.7%	1.3%
44	Score	12.3%	17.5%	−11.8%	2.2%
120	Affine	-13.8%	4.6%	−6.4%	1.6%
53	engy	12.0%	35.4%	−10.5%	4.4%
28	SayGM	1.8%	3.6%	+17.5%	5.3%
9	iota	6.2%	-6.6%	−4.7%	1.2%
3	Teutonic	22.9%	-18.6%	−17.3%	1.4%
95	Actual	6.7%	21.7%	−13.0%	2.8%
110	Green Compute	20.5%	12.6%	+66.7%	4.2%
68	NOVA	-21.7%	-10.5%	−12.9%	1.7%
75	Hippius	-6.1%	-18.6%	+3.0%	2.6%
56	Gradients	5.9%	-19.4%	−2.5%	0.6%
93	Bitcast	1.1%	-2.7%	−24.0%	3.0%
24	ms.computer	26.3%	-0.4%	+150.8%	7.9%
5	Hone	-8.5%	13.9%	−4.4%	0.4%
107	Minos	12.0%	22.8%	−22.0%	4.5%
34	Yugos	-10.8%	3.8%	−0.2%	2.9%
41	Almanac	4.7%	-5.3%	+37.8%	5.2%
14	Cacheon	28.3%	4.5%	+5.9%	1.5%
19	blockmachine	13.8%	1.3%	−8.5%	1.5%
48	Quantum Compute	4.1%	8.8%	+112.5%	4.7%
15	ORO	23.3%	23.6%	−21.2%	2.1%
114	SOMA	14.0%	48.2%	−19.4%	4.0%
23	Trishool	-14.5%	11.0%	+35.9%	7.3%
39	deprecated	30.8%	2.6%	−12.4%	8.8%
62	Ridges	-10.2%	-42.0%	−20.3%	1.9%
124	Swarm	-6.4%	-6.5%	−11.2%	1.4%
11	TrajectoryRL	17.4%	-10.4%	−12.4%	3.3%
17	404-GEN	7.4%	2.0%	−21.9%	1.8%
1	Apex	-8.5%	6.9%	−7.8%	1.0%
52	Dojo	-13.0%	4.7%	−0.3%	0.2%
80	OpenRoboto	4.0%	17.7%	−46.4%	5.4%
112	THOR	24.3%	-13.8%	+50.5%	5.8%
61	RedTeam	40.6%	21.6%	−57.2%	5.6%
54	Yanez	28.5%	-26.9%	−7.3%	5.3%
12	Compute Horde	18.7%	-23.6%	−3.3%	0.5%
81	Reliquary	-23.9%	-1.9%	−11.3%	2.1%

Returns are log changes in alpha price quoted in TAO, read from the Bittensor chain: each subnet's pool spot price at the first block after 00:00 UTC each day. The 40 subnets are the largest non-startup subnets by chain market cap (price times total alpha supply). TAO/USD is not on chain, so it is the Taostats daily candle price at 00:00 UTC. Equal-weight alpha basket vs TAO/USD: 15.4%. Correlations from 30 observations carry wide error bands (about ±38 points at 95% around zero).

Registration & deregistration pipeline

High cost = expensive to launch or replace a subnet. With the network full, every new registration recycles an old netuid, so the number can stay the same while the project and owner change. Check the registration date before trusting a subnet's history. As of 8 Nov 2026, 01:23 (London).

409.75τ

Registration cost now

252.78τ

Last paid · SN99 · 6 Nov

Registrations · 90 days

5.6days

Avg gap · last 10

157

Re-registrations all-time

Registration cost · last 90 days

Cost in TAO over 90 days. Gold dots mark registrations at the cost paid; the cost then jumps and decays. A high or rising path means slots are contested and replacement is pricey. 90-day range 225–1,751 τ.

Recent registrations

Reg # = how many times that netuid has been registered. Previous = date the prior identity on that netuid was registered.

Date	SN	Cost TAO	Owner	Reg #	Previous
6 Nov 2026	99	252.78	5HDnT2…LkpG	4th	7 Jul 2026
2 Nov 2026	36	235.20	5Gn72T…jM6P	8th	20 Aug 2026
29 Oct 2026	16	226.54	5FsQNT…qi6r	4th	22 Jun 2026
26 Oct 2026	70	224.64	5GbydR…wB7m	4th	12 Aug 2026
20 Oct 2026	103	434.68	5FHb1T…PzXz	3rd	3 Aug 2026
15 Oct 2026	86	493.99	5DyodY…zAmD	4th	24 Jul 2026
9 Oct 2026	92	884.38	5GMxpA…mU6B	4th	7 Jun 2026
4 Oct 2026	116	653.02	5D5Rwy…Ynj9	3rd	30 May 2026
27 Sep 2026	82	628.71	5GGrRd…Wj88	3rd	22 Apr 2026
20 Sep 2026	108	508.68	5FBwsA…UvoB	3rd	15 Dec 2025

157 re-registrations across 76 of 128 netuids (285 registrations since Apr 2023).

59 registrations since deregistration restarted (19 Oct 2025), all on recycled netuids.

Most reused: SN32, registered 8 times. Last 90 days: 15 registrations, 7,124 τ paid.

A recycled netuid carries a new owner and project under an old number; check the registration date before relying on a subnet's history. Current cost is read from the Bittensor chain (the runtime's own registration-cost call at the latest block); the 90-day line uses the same call at the first block after 00:00 UTC each day. It doubles the last lock cost paid and then decays linearly back towards the minimum. Registration history up to the last daily rebuild comes from Taostats; newer registrations are picked up from the chain (a subnet's NetworkRegisteredAt block changing), with the lock cost paid and owner read at that block.

Emission split by subnet (eTAO)

Until eTAO, every subnet paid out the same way: 18% to the owner, 41% to validators and 41% to miners. Now each subnet owner can change that, within limits (owner up to 33%, validators up to 50%, miners at least 33%). A subnet that sends more to miners is paying more for the actual work; a bigger owner share means more for the team. Last read from the chain at block 9,458,111, 8 Nov 2026, 01:23 (UK time).

22of 128

Subnets off 18 / 41 / 41

18.82%

Average owner share

39.48%

Average validator share

41.7%

Average miner share

22 of 128 subnets have a split that differs from 18% / 41% / 41% (21 changed it under eTAO, 1 already had the owner cut switched off before eTAO).

More to miners
SN47 GPUForge (69.4%), SN122 CookingTAO (64%), SN73 Elenost (61%), SN20 Witness (60%), SN98 NeverPlayAlone (60%), SN31 rec4ll (55%), SN78 Umi (53.75%), SN8 Vanta (50%), SN41 Almanac (50%), SN74 Gittensor (50%), SN44 Score (44%)

Owner took less
SN8 Vanta (0%), SN41 Almanac (10%), SN44 Score (12%), SN74 Gittensor (0%)

Owner took more
SN20 Witness (33%), SN31 rec4ll (25%), SN35 Unknown (33%), SN59 Unknown (31.97%), SN68 NOVA (26%), SN72 StreetVision by NATIX (33%), SN73 Elenost (33%), SN78 Umi (30.75%), SN92 REAX (26%), SN98 NeverPlayAlone (33%), SN106 Nodexo (33%), SN117 everyframe.studio (33%)

Live split for every subnet

Gold rows have changed their split. In the Owner column, green means the owner now takes less than the old 18% and red means more, and the colour gets stronger the further it moves (strongest green at 0%, strongest red at the 33% cap). In the Validators and Miners columns, green means higher than the old 41% and red means lower. Root stakers are paid first out of the validator share (about the same amount whatever the split), so the Root and Alpha validator columns show how the validator share divides between root and the subnet's own (alpha) validators. Price since change is how much the subnet's alpha price in TAO has moved since it switched to its current split: green is up, red is down, and the small line shows the price at the change and how all subnets moved on average over the same time. Click a column to sort.

OwnerRoot stakersAlpha validatorsMiners

SN	Subnet	Owner	Validators	Miners	Root takes	Alpha validators get	Changed (UK)	Price since change
1	Apex	18%	41%	41%	5.56%	35.44%	18 / 41 / 41	n/a
2	DaniLabs	18%	41%	41%	5.68%	35.32%	18 / 41 / 41	n/a
3	Teutonic	18%	41%	41%	5.43%	35.57%	18 / 41 / 41	n/a
4	Targon	18%	41%	41%	5.3%	35.7%	18 / 41 / 41	n/a
5	Hone	18%	41%	41%	5.66%	35.34%	18 / 41 / 41	n/a
6	Numinous	18%	41%	41%	5.67%	35.33%	18 / 41 / 41	n/a
7	Allways	18%	41%	41%	6.17%	34.83%	18 / 41 / 41	n/a
8	Vanta	0%	50%	50%	5.42%	44.58%	20 Oct, 01:14	+12.51%from 0.02991 τ · all −4.54%
9	iota	18%	41%	41%	5.4%	35.6%	18 / 41 / 41	n/a
10	Pareton	18%	41%	41%	5.54%	35.47%	18 / 41 / 41	n/a
11	TrajectoryRL	18%	41%	41%	5.54%	35.46%	18 / 41 / 41	n/a
12	Compute Horde	18%	41%	41%	5.34%	35.66%	18 / 41 / 41	n/a
13	Data Universe	18%	41%	41%	5.47%	35.53%	18 / 41 / 41	n/a
14	Cacheon	18%	41%	41%	5.53%	35.47%	18 / 41 / 41	n/a
15	ORO	18%	41%	41%	11.52%	29.48%	18 / 41 / 41	n/a
16	Unknown	18%	41%	41%	37.73%	3.27%	18 / 41 / 41	n/a
17	404-GEN	18%	41%	41%	5.47%	35.53%	18 / 41 / 41	n/a
18	Zeus	18%	41%	41%	5.68%	35.32%	18 / 41 / 41	n/a
19	blockmachine	18%	41%	41%	5.47%	35.53%	18 / 41 / 41	n/a
20	Witness	33%	7%	60%	5.56%	1.44%	27 Oct, 22:41	−0.71%from 0.002296 τ · all −1.09%
21	AdTAO	18%	41%	41%	5.49%	35.51%	18 / 41 / 41	n/a
22	Desearch	18%	41%	41%	5.46%	35.54%	18 / 41 / 41	n/a
23	Trishool	18%	41%	41%	5.49%	35.51%	18 / 41 / 41	n/a
24	ms.computer	18%	41%	41%	5.55%	35.45%	18 / 41 / 41	n/a
25	UR	18%	41%	41%	5.5%	35.5%	18 / 41 / 41	n/a
26	Perturb	18%	41%	41%	13.8%	27.2%	18 / 41 / 41	n/a
27	Komms	18%	41%	41%	5.44%	35.56%	18 / 41 / 41	n/a
28	SayGM	18%	41%	41%	5.39%	35.61%	18 / 41 / 41	n/a
29	hoτfloaτ	18%	41%	41%	5.51%	35.49%	18 / 41 / 41	n/a
30	Endure Network	18%	41%	41%	5.55%	35.45%	18 / 41 / 41	n/a
31	rec4ll	25%	20%	55%	11.26%	8.74%	4 Nov, 04:47	−5.69%from 0.003780 τ · all −1.83%
32	ItsAI	18%	41%	41%	5.5%	35.5%	18 / 41 / 41	n/a
33	ReadyAI	18%	49%	33%	6.04%	42.96%	27 Oct, 17:13	−0.97%from 0.003058 τ · all −1.26%
34	Yugos	18%	41%	41%	5.73%	35.27%	18 / 41 / 41	n/a
35	Unknown	33%	30%	37%	26.63%	3.37%	19 Oct, 20:00	−60.56%from 0.001458 τ · all −4.93%
36	Weir	18%	41%	41%	37.9%	3.1%	18 / 41 / 41	n/a
37	Aurelius	18%	41%	41%	5.47%	35.53%	18 / 41 / 41	n/a
38	ChronoLLM	18%	41%	41%	10.89%	30.11%	18 / 41 / 41	n/a
39	deprecated	18%	41%	41%	5.45%	35.55%	18 / 41 / 41	n/a
40	Ralph	18%	41%	41%	17.57%	23.43%	18 / 41 / 41	n/a
41	Almanac	10%	40%	50%	5.66%	34.34%	19 Oct, 20:50	+48.25%from 0.007090 τ · all −4.91%
42	Unknown	18%	41%	41%	5.75%	35.25%	18 / 41 / 41	n/a
43	Graphite	18%	41%	41%	5.49%	35.51%	18 / 41 / 41	n/a
44	Score	12%	44%	44%	5.49%	38.51%	4 Nov, 01:18	+1.03%from 0.03151 τ · all −1.97%
45	AlphaRidge.ai	18%	41%	41%	5.73%	35.27%	18 / 41 / 41	n/a
46	Instant	18%	41%	41%	5.67%	35.33%	18 / 41 / 41	n/a
47	GPUForge	18%	12.6%	69.4%	12.05%	0.55%	20 Oct, 17:27	−10.46%from 0.001716 τ · all −4.34%
48	Quantum Compute	18%	41%	41%	5.59%	35.41%	18 / 41 / 41	n/a
49	Nepher Robotics	18%	41%	41%	9.47%	31.53%	18 / 41 / 41	n/a
50	Synth	18%	41%	41%	5.71%	35.29%	18 / 41 / 41	n/a
51	lium.io	18%	41%	41%	5.53%	35.47%	18 / 41 / 41	n/a
52	Dojo	18%	41%	41%	5.53%	35.47%	18 / 41 / 41	n/a
53	engy	18%	41%	41%	5.46%	35.54%	18 / 41 / 41	n/a
54	Yanez	18%	49%	33%	5.57%	43.43%	27 Oct, 15:55	+12.82%from 0.004783 τ · all −1.25%
55	NIOME	18%	41%	41%	5.9%	35.1%	18 / 41 / 41	n/a
56	Gradients	18%	41%	41%	5.45%	35.55%	18 / 41 / 41	n/a
57	Unknown	18%	41%	41%	14.5%	26.5%	18 / 41 / 41	n/a
58	Attune	18%	41%	41%	19.75%	21.25%	18 / 41 / 41	n/a
59	Unknown	31.97%	35.03%	33%	32.58%	2.45%	29 Oct, 17:46	−19.90%from 0.008642 τ · all +0.07%
60	Bitsec.ai	18%	41%	41%	5.75%	35.25%	18 / 41 / 41	n/a
61	RedTeam	18%	41%	41%	5.41%	35.59%	18 / 41 / 41	n/a
62	Ridges	18%	41%	41%	5.85%	35.15%	18 / 41 / 41	n/a
63	Enigma	18%	41%	41%	5.5%	35.5%	18 / 41 / 41	n/a
64	Chutes	18%	41%	41%	5.31%	35.69%	18 / 41 / 41	n/a
65	True Performance Network	18%	41%	41%	5.58%	35.42%	18 / 41 / 41	n/a
66	conjectures	18%	41%	41%	5.65%	35.35%	18 / 41 / 41	n/a
67	Harnyx	18%	41%	41%	13.63%	27.37%	18 / 41 / 41	n/a
68	NOVA	26%	41%	33%	5.63%	35.37%	30 Oct, 19:32	+6.32%from 0.01636 τ · all −0.96%
69	Herald	18%	41%	41%	12.49%	28.51%	18 / 41 / 41	n/a
70	Fugal	18%	41%	41%	37.79%	3.21%	18 / 41 / 41	n/a
71	Leadpoet	18%	41%	41%	5.71%	35.29%	18 / 41 / 41	n/a
72	StreetVision by NATIX	33%	30%	37%	6%	24%	26 Oct, 09:06	−0.05%from 0.002080 τ · all −0.96%
73	Elenost	33%	6%	61%	5.75%	0.25%	27 Oct, 04:47	−13.63%from 0.002846 τ · all −1.18%
74	Gittensor	0%	50%	50%	6.28%	43.72%	before eTAO	+31.43%from 0.002869 τ · all −5.08%
75	Hippius	18%	41%	41%	5.8%	35.2%	18 / 41 / 41	n/a
76	Ormas	18%	49%	33%	28.22%	20.78%	25 Oct, 15:26	−11.76%from 0.004268 τ · all −2.11%
77	Liquidity	18%	41%	41%	5.82%	35.18%	18 / 41 / 41	n/a
78	Umi	30.75%	15.5%	53.75%	14.84%	0.66%	27 Oct, 21:56	−55.10%from 0.002338 τ · all −1.11%
79	MVTRX	18%	41%	41%	6.28%	34.72%	18 / 41 / 41	n/a
80	OpenRoboto	18%	41%	41%	10.8%	30.2%	18 / 41 / 41	n/a
81	Reliquary	18%	41%	41%	5.95%	35.05%	18 / 41 / 41	n/a
82	Noah	18%	41%	41%	30.55%	10.45%	18 / 41 / 41	n/a
83	CliqueAI	18%	41%	41%	7.8%	33.2%	18 / 41 / 41	n/a
84	Unknown	18%	41%	41%	14.74%	26.26%	18 / 41 / 41	n/a
85	Vidaio	18%	41%	41%	6.12%	34.88%	18 / 41 / 41	n/a
86	OnSale	18%	41%	41%	31.88%	9.12%	18 / 41 / 41	n/a
87	Provenonce	18%	41%	41%	11.38%	29.62%	18 / 41 / 41	n/a
88	Investing	18%	41%	41%	6.11%	34.89%	18 / 41 / 41	n/a
89	InfiniteQuant	18%	41%	41%	6.49%	34.51%	18 / 41 / 41	n/a
90	KubeTEE	18%	41%	41%	20.7%	20.3%	18 / 41 / 41	n/a
91	cascade	18%	41%	41%	13.03%	27.97%	18 / 41 / 41	n/a
92	REAX	26%	41%	33%	28.38%	12.62%	30 Oct, 23:31	+40.34%from 0.02315 τ · all −1.04%
93	Bitcast	18%	41%	41%	6.21%	34.79%	18 / 41 / 41	n/a
94	Cathedral	18%	41%	41%	10.69%	30.31%	18 / 41 / 41	n/a
95	Actual	18%	41%	41%	8.12%	32.88%	18 / 41 / 41	n/a
96	Verathos	18%	41%	41%	14.93%	26.07%	18 / 41 / 41	n/a
97	Ingot	18%	41%	41%	12.64%	28.36%	18 / 41 / 41	n/a
98	NeverPlayAlone	33%	7%	60%	6.53%	0.47%	26 Oct, 23:01	−0.26%from 0.002139 τ · all −0.83%
99	Unknown	18%	41%	41%	38.63%	2.37%	18 / 41 / 41	n/a
100	Cortex	18%	41%	41%	10.33%	30.67%	18 / 41 / 41	n/a
101	Tag101	18%	41%	41%	8.48%	32.52%	18 / 41 / 41	n/a
102	ConnitoAI	18%	41%	41%	14.02%	26.98%	18 / 41 / 41	n/a
103	Terza Inference	18%	41%	41%	32.88%	8.12%	18 / 41 / 41	n/a
104	TAOstatus	18%	41%	41%	6.95%	34.05%	18 / 41 / 41	n/a
105	Beam	18%	41%	41%	9.38%	31.62%	18 / 41 / 41	n/a
106	Nodexo	33%	30%	37%	6.51%	23.49%	2 Nov, 16:36	−2.19%from 0.002175 τ · all −1.74%
107	Minos	18%	41%	41%	11.48%	29.52%	18 / 41 / 41	n/a
108	ChipForge	18%	41%	41%	30.21%	10.79%	18 / 41 / 41	n/a
109	Finsight	18%	41%	41%	11.59%	29.41%	18 / 41 / 41	n/a
110	Green Compute	18%	41%	41%	8.14%	32.86%	18 / 41 / 41	n/a
111	Claims	18%	41%	41%	6.57%	34.43%	18 / 41 / 41	n/a
112	THOR	18%	41%	41%	8.18%	32.82%	18 / 41 / 41	n/a
113	Unknown	18%	41%	41%	10.83%	30.17%	18 / 41 / 41	n/a
114	SOMA	18%	41%	41%	11.09%	29.91%	18 / 41 / 41	n/a
115	MoirAI	18%	41%	41%	9.11%	31.89%	18 / 41 / 41	n/a
116	Carbon	18%	41%	41%	29.34%	11.66%	18 / 41 / 41	n/a
117	everyframe.studio	33%	34%	33%	9.68%	24.32%	22 Oct, 23:44	+182.62%from 0.002107 τ · all −3.96%
118	Ditto	18%	49%	33%	9.15%	39.85%	1 Nov, 17:41	−17.76%from 0.004362 τ · all −1.74%
119	CapabilityForge Next	18%	41%	41%	9.48%	31.52%	18 / 41 / 41	n/a
120	Affine	18%	41%	41%	7.16%	33.84%	18 / 41 / 41	n/a
121	sundae_bar	18%	41%	41%	7.07%	33.93%	18 / 41 / 41	n/a
122	CookingTAO	18%	18%	64%	16.68%	1.32%	19 Oct, 19:50	−28.83%from 0.003709 τ · all −5.03%
123	MANTIS	18%	41%	41%	7.07%	33.93%	18 / 41 / 41	n/a
124	Swarm	18%	41%	41%	6.57%	34.43%	18 / 41 / 41	n/a
125	Refinery	18%	41%	41%	7.03%	33.97%	18 / 41 / 41	n/a
126	Attelier	18%	41%	41%	12.44%	28.56%	18 / 41 / 41	n/a
127	Zils	18%	41%	41%	7.28%	33.72%	18 / 41 / 41	n/a
128	ByteLeap	18%	41%	41%	7.09%	33.91%	18 / 41 / 41	n/a

Price since change uses the alpha price (in TAO) at the change block from the chain, and the latest price from the 5-minute price feed when this page loads.

Split periods and price moves (22 subnets, 1 past periods)

Each line is one split a subnet has used: owner / validators / miners, when it started and ended, the alpha price at each end and the move in between.

SN8 Vanta

0% / 50% / 50% from 20 Oct 2026, 01:14 to now (current): 0.02991 τ to 0.03365 τ, +12.51% (all subnets −4.54%)

SN20 Witness

33% / 7% / 60% from 27 Oct 2026, 22:41 to now (current): 0.002296 τ to 0.002280 τ, −0.71% (all subnets −1.09%)

SN31 rec4ll

25% / 20% / 55% from 4 Nov 2026, 04:47 to now (current): 0.003780 τ to 0.003565 τ, −5.69% (all subnets −1.83%)

SN33 ReadyAI

18% / 49% / 33% from 27 Oct 2026, 17:13 to now (current): 0.003058 τ to 0.003028 τ, −0.97% (all subnets −1.26%)

SN35 Unknown

33% / 30% / 37% from 19 Oct 2026, 20:00 to now (current): 0.001458 τ to 0.000575 τ, −60.56% (all subnets −4.93%)

SN41 Almanac

10% / 40% / 50% from 19 Oct 2026, 20:50 to now (current): 0.007090 τ to 0.01051 τ, +48.25% (all subnets −4.91%)

SN44 Score

12% / 44% / 44% from 4 Nov 2026, 01:18 to now (current): 0.03151 τ to 0.03183 τ, +1.03% (all subnets −1.97%)

SN47 GPUForge

18% / 12.6% / 69.4% from 20 Oct 2026, 17:27 to now (current): 0.001716 τ to 0.001536 τ, −10.46% (all subnets −4.34%)

SN54 Yanez

18% / 49% / 33% from 27 Oct 2026, 15:55 to now (current): 0.004783 τ to 0.005396 τ, +12.82% (all subnets −1.25%)

SN59 Unknown

30.1% / 36.9% / 33% from 21 Oct 2026, 21:00 to 29 Oct 2026, 17:46: 0.01356 τ to 0.008642 τ, −36.29% (all subnets −3.23%)
31.97% / 35.03% / 33% from 29 Oct 2026, 17:46 to now (current): 0.008642 τ to 0.006922 τ, −19.90% (all subnets +0.07%)

SN68 NOVA

26% / 41% / 33% from 30 Oct 2026, 19:32 to now (current): 0.01636 τ to 0.01739 τ, +6.32% (all subnets −0.96%)

SN72 StreetVision by NATIX

33% / 30% / 37% from 26 Oct 2026, 09:06 to now (current): 0.002080 τ to 0.002079 τ, −0.05% (all subnets −0.96%)

SN73 Elenost

33% / 6% / 61% from 27 Oct 2026, 04:47 to now (current): 0.002846 τ to 0.002458 τ, −13.63% (all subnets −1.18%)

SN74 Gittensor

0% / 50% / 50% from 19 Oct 2026, 18:24 to now (current): 0.002869 τ to 0.003771 τ, +31.43% (all subnets −5.08%) First observed at eTAO launch; the owner cut was switched off before eTAO and the exact date is not on record.

SN76 Ormas

18% / 49% / 33% from 25 Oct 2026, 15:26 to now (current): 0.004268 τ to 0.003766 τ, −11.76% (all subnets −2.11%)

SN78 Umi

30.75% / 15.5% / 53.75% from 27 Oct 2026, 21:56 to now (current): 0.002338 τ to 0.001050 τ, −55.10% (all subnets −1.11%)

SN92 REAX

26% / 41% / 33% from 30 Oct 2026, 23:31 to now (current): 0.02315 τ to 0.03248 τ, +40.34% (all subnets −1.04%)

SN98 NeverPlayAlone

33% / 7% / 60% from 26 Oct 2026, 23:01 to now (current): 0.002139 τ to 0.002133 τ, −0.26% (all subnets −0.83%)

SN106 Nodexo

33% / 30% / 37% from 2 Nov 2026, 16:36 to now (current): 0.002175 τ to 0.002127 τ, −2.19% (all subnets −1.74%)

SN117 everyframe.studio

33% / 34% / 33% from 22 Oct 2026, 23:44 to now (current): 0.002107 τ to 0.005954 τ, +182.62% (all subnets −3.96%)

SN118 Ditto

18% / 49% / 33% from 1 Nov 2026, 17:41 to now (current): 0.004362 τ to 0.003587 τ, −17.76% (all subnets −1.74%)

SN122 CookingTAO

18% / 18% / 64% from 19 Oct 2026, 19:50 to now (current): 0.003709 τ to 0.002640 τ, −28.83% (all subnets −5.03%)

Source: read straight from the Bittensor chain (each subnet's emission weights, plus the chain's own runtime call that reports root's cut), no third-party data. Percentages are shares of each subnet's total emission and every row adds up to 100%. The old default is stored on chain as 17.9995% / 41.0002% / 41.0002% (the legacy owner cut of 11,796 out of 65,535), shown here rounded to 18% / 41% / 41%. eTAO went live at block 9,319,004 on 19 Oct 2026, 18:24 (UK time). "Changed" is the time we found the new split took effect on chain. Names from Taostats. Refreshed every 6 hours. Price since change: the alpha price at the change block is read from the chain (the chain's own price call at that block), so it is exact; current prices come from the same 5-minute feed as the screener below. "All subnets" is the plain average move of every subnet over the same time (subnets registered after the change are left out). Prices are in TAO, so a move in TAO itself does not show up here.

Conviction Loyalty Calculator

A planning tool for subnet owners. Every subnet is emitted 7,200 alpha a day. An owner who raises their own emission share above what they need to keep creates a surplus, and that surplus can pay a loyalty bonus to holders who lock (convict) their alpha for 6, 9 or 12 months. The bonus is paid in alpha at the end of the lock. The surplus is a fixed pool, so it can only cover so many holders at so much alpha each. Move the sliders to see who gets what, what normal stakers lose, and how much the pool can pay.

1Start from a subnet (optional)

Pick a subnet to fill in its current split, staked alpha and holders from the chain data on this page, or choose Custom and type your own numbers. Everything below works without a pick, using the example inputs.

Subnet Current owner % Current validators %

Current miners %n/a

Root share % (assumption) Total staked alpha Validator take % (assumption) Current staker APY %

2Set the split

Owner

0%cap 33%

Per day Per year Change

Miners

minimum 33%100%

Per day Per year Change

Validators

0%cap 50%

Per day Per year Change

Lock in: owner emissions I need to keep (%)

3What normal stakers get

Normal stakers are paid out of the validator share, after root stakers and the validator's take. So when validator emissions fall, their APY falls roughly in proportion. This is an estimate, not a forecast.

Average staker APY nown/a

At the new validator sharen/a

Validator share	Alpha to stakers a day	Average APY	Versus now

Method: stakers get (validator share minus root share) x 7,200 alpha x (1 minus validator take) x 365, divided by the total alpha staked on the subnet. Root stakers are paid first out of the validator share. If you type your own current APY, the new APY is that number scaled by the change in alpha going to stakers.

4Loyalty bonuses

Each bonus is a flat percentage of the alpha a holder convicted, paid in alpha at the end of the lock. A holder who convicts 100 alpha for 6 months at 50% receives 50 alpha when the lock ends. It is not a yearly rate. The Per year column scales each bonus to a full year so you can compare lock lengths and compare them with normal staker APY.

6 month lock

Bonus (% of alpha convicted)

9 month lock

Bonus (% of alpha convicted)

12 month lock

Bonus (% of alpha convicted)

Holders renew their lock when it ends

5How much can the pool pay?

Solve for

Cap per holder Number of holders Total convicted alpha

Cap: alpha convicted per holder

Holders today (wallets)

Total alpha convicted

Growth buffer (x holders)Holders are planned at this many times today's count, so a growing programme does not run the pool dry. 2 means 3,000 holders are planned as 6,000.

Lock	Bonus	Per year	Cap per holder	Paid out

How this works and its limits

The pool. Every subnet is emitted 7,200 alpha a day, split between owner, miners and validators. Surplus % = owner % minus the share the owner needs to keep (never below 0%). Surplus alpha a day = surplus % x 7,200. Surplus alpha a year = that x 365. Example: the owner goes to 33% but keeps 18%, so the surplus is 15%, which is 1,080 alpha a day and 394,200 alpha over 12 months.

Who pays for it. The extra owner share comes out of the miner or validator share. Use the padlocks to choose: lock one party and the other pays, or leave both open and they share it evenly. Chain limits used here: owner at most 33%, validators at most 50%, miners at least 33%. The sliders stop at those limits and tell you when one has stopped a move.

Staker APY. Stakers earn from the validator share. Root stakers are paid first, off the top of the validator share, so alpha validators get the validator share minus the root share. This calculator treats the root share as a fixed amount (about 5% to 6% of total emission), which matches how the chain reports it, and it is an editable assumption. APY = (validator share minus root share) x 7,200 x (1 minus validator take) x 365 / total alpha staked. Validator take is an assumption (default 18%) and real validators differ. This is a simple estimate: it ignores compounding, price moves and how stake is spread across validators.

The bonus. Each lock pays a flat percentage of the alpha convicted, once, at the end of the lock. The Per year column is bonus x 12 / months (50% over 6 months is 100% a year). Each lock length is worked out on its own, as if every planned holder chose that lock. Cycles a year is 1 if holders do not renew, or 12 / months if they do (2 for a 6 month lock). Rate = bonus x cycles.

Capacity. The surplus S for a year is the hard limit on payouts. For each lock: cap per holder = S / (planned holders x rate). Holders you can cover = S / (cap x rate). Total alpha the pool can support = S / rate. Planned holders = holders x growth buffer. Example: S = 394,200, 6,000 planned holders, 50% bonus on a 6 month lock, no renewal: cap = 394,200 / (6,000 x 0.5) = 131.4 alpha. If your planned total (cap x holders) times rate is more than S, the calculator flags a shortfall for that lock.

Limits. Owners can only change the split about once a week (eTAO), so the pool can change week to week. Bonuses are paid by the owner from a public Loyalty Dispersion Wallet that holds the surplus alpha; nothing in this page moves any alpha. Subnet data comes from the chain read used in section 10 and the holder scan used in section 06, and total staked alpha comes from the same source as section 06. This is a planning tool, not financial advice.

Net Chain Buy Screener

Which subnets have more TAO flowing in from chain buys than going out to miners?

When daily chain buys exceed miner emissions (the TAO value of the ~2,952 alpha paid to miners each day), more TAO is flowing into that subnet than miners are taking out. That is a rough on-chain vote of confidence. Net Chain Buy Ratio ranks that surplus against emissions (chain buys ÷ miner emissions). Net Chain Buy Impact scales the same surplus by pool depth so thin pools do not look stronger than they are. It is not total TAO in/outflow, but it is a useful read of what "the chain" is favouring.

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#	SN	Price τ	Chain Buys τ	Miner Emission τ	Daily Surplus τ	Buy/Emission Ratio	Liquidity Pool τ	Daily Impact %