The Subnet metagraph is a chart the displays a detailed readout of the subnet.

Metagraph key

• POS: Position in the chart (not a ranking)
• Shield: The shield icon is shown for all validators.
• Open circle: The open circle shows a node in immunity.
• UID: Unique ID: A number 0-{node count -1} that specifies the node the miner/validator is connecting on.
• Stake: Amount of tao staked to the node. For miners, all tao earned is staked to the UID.
• Rank: Numerical rank of node based on staked TAO. (highest stake =1, lowest stake =255).
• VTrust: Validator Measurement of Validator trust.
• Consensus: Miners: A measurement of the consensus between the validators on the accuracy of the mining results. Adds to 1 for each subnet.
• Incentive: Miners: Represents the distribution of miner emissions. The emissions column adds to 1 for all miners.
• Dividends Validators: Breakdown of emissions per validator. Calculated from the amount of TAO staked and the Vtrust. Adds to 1 for each subnet
• Emission(P): TAO granted each epoch (72 minutes/360 TAO emitted). (Note: The metagraph from Bittensor outputs emission in RAO (1 billionth of a tao) per block. Sme data, different units.).
• Updated
  • Validator: The number of blocks since weights were last set. This should be less than 500 for optimum performance, and anything over 1500 triggers an alert.
  • Miners face no such time limit, so this value has no meaning for miners.
• Active: 0 for live nodes, 1 for nodes that are in an immunity state.
• Axon: Obfuscated IP address
• Hotkey: Hotkey of the node
• Coldkey: Cold Key of the node
• Daily Rewards: Based on the emission, an estimate of tao in 24 hours.
• Daily $: Daily rewards estimate * current price of tao..
• Total $: USD value of all TAO staked to the hotkey.

Reading the metagraph

There is a ton of information here. Here are a few tricks to read the metagraph:

Validator view

Columns of interest:

• Stake & rank - how much tao the validator has (and their rank in the subnet)
• VTrust: your trust value
• Dividends/emissions/Daily rewards: How your stake and vtrust is translated into earnings.
• Updated: The number of blocks since last setting weights to ensure your validaotr is functionaking correctly. A validator that is not setting weights will drop in vtrust and emissions

Sort by stake (or rank) descending to display validators at the top of the table.

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Some basic analysis points to help you better understand the data:

• Mining and validating: A single UID can run a miner and a validator. (Note: This is not true in all subnets)
  • Position 7 (UID 224) is mining in addition to validation (there are nonzero Trust/Consensus/Incentive values.)
• Vtrust vs. Stake. Validator emissions are defined by the amount staked and the Vtrust determined by the Yuma Consensus. Generally, higher numbers of stake do better. Given similar amounts of stake, higher Vtrust does better.
  • Vtrust effectPositions 8&9 have nearly identical stake values. Position 9 has a higher Vtrust (0.94 > 0.92). This leads to higher emissions (0.53 > 0.47.)
    • Vtrust is affected by how often weights are set (Updated lists the tao emitted since last update.). Pe Position 8 has not updated weights on this network for 2657 (vs 298 for position 9), lowering their Vtrust score.
  • High stake/low Vtrust: Position 3 has ~ 40k more tao staked than position 4. Yet, it has lower Vtrust (0.91 vs 0.97). As a result, position 4 has slighty higher dividends and receives more emission - despite the lower tao stake.

Miner View

Sort the metagraph by incentive. Your goal is to gain as much incentive - this directly correlates to emission. (You can sort by emission, but this will also add validators into the mix.)

• Set the number of entries to 100. We now see the bottom 100 nodes for emission (note, validators are here too - as they have 0 emission). Subtract away the validators, and the miners in immunity (gear icon), and the remaining miners are at risk of de-registration, as they have the lowest emission values.