Tokenomics

Learn how tao and alpha tokens are emitted and distributed to participants on Bittensor.

Tao: The emission and distribution of tao into the subnets.

Alpha Tokens: Each subnet has a token that can be purchased with tao.

Subnet Emission: Alpha emission is divided between the participants and the subnet pool.

Halving: Bittensor tokens (tao and alpha) follow the Bitcoin halving schedule.

Recycling: The purchase of a subnet or subnet neurons results in tao/alpah being recycled,

Staking: Buy and sell alpha in each subnet. Or for a safer option, stake into the root subnet.


Definitions:

  • ** Max Supply**: total number of tokens that will be issued. For all Subnets and for Tao,this is 21 million.
  • Total Supply: Max Supply - burned. WE can never pass total supply, as the remaiuning tokens are burned.
  • Burned: Tokens that have been removed from circulation. A burn cannot be reversed - the token is eliminated.
  • Recycled: Tokens that have been removed from circulation. These tokens can be issued again.
  • Circulating Supply: Token that can be bought or sold.
    • For Subnets, this is a sum of alpha in the liquidity pool + all alpha that is staked.
    • For tao - this is all free tao and all staked tao.
  • Total Issuance: Total of all tokens issued. This is circulating supply + all token that is burned.