Reference

Definitions

Every figure Taosis shows, what it means, the formula the code actually runs and the chain storage it is read from. A blank cell anywhere on the site means the figure could not be verified — never a zero standing in for one. The same text is available to machines at /llms.txt.

Concepts

Subnet: One of the independent markets on the Bittensor network, each with its own α token, its own price and its own set of miners and validators.
α (alpha): A subnet's own token. Bought and sold against TAO through the subnet's liquidity pool; staked to a validator on that subnet.
τ (TAO): Bittensor's base token, in which every α is priced.
Pool: The subnet's constant-product liquidity pool holding τ and α; the price is the ratio of its reserves, and every buy or sell moves it.
Root (SN0): Not a market: staking to root is one-to-one with τ at any size. Taosis hides it from the screener by default and blanks every pool-shaped figure for it.
Emission: τ the chain mints each block and splits across subnets — part injected into pools, part spent buying α when there is more τ than α to pair it with.
Conviction lock: α locked on a subnet for a chosen time; the longer and larger the lock, the more "conviction" it accrues, and conviction is what decides who can own a subnet.
Deregistration: When the network is at its subnet limit, registering a new subnet dissolves the existing non-immune subnet with the lowest moving price.
Fail-closed display: Taosis's rule: a figure it cannot verify is shown as "—", never as a zero standing in for one. A zero is always a verified zero.

Price

Price (τ): The spot price of one α of the subnet, in TAO: the ratio of the pool's two reserves.price = τ in pool ÷ α in poolSource: SubnetTAO and SubnetAlphaIn, read from the chain every few minutes.Root (SN0) has no pool: staking to it is one-to-one with TAO at any size, so root has no price.
EMA price (τ): The chain's own moving-average price — the figure the runtime uses for emission and for the deregistration queue.Exponential moving average maintained by the chain (SubnetMovingPrice), never above 1 τ.Source: SubnetMovingPrice, read from the chain.A moving price of 0 means "not applicable" (no emission yet), not a measured zero; Taosis shows a dash there.
1h / 24h / 7d / 30d / 90d change: Percentage change of the spot price against Taosis's own price sample taken that long ago.(price now − price then) ÷ price thenSource: Taosis's price_history table, sampled from the chain since 2026-08-24.A window is offered only once that much history exists; 30d and 90d appear when Taosis has sampled for 30 and 90 days. No third-party price feed is ever used.
7d sparkline: The last seven days of hourly closes, drawn as a line.Source: Taosis's price_history table.

Size & flow

Market cap (τ): The value of every α that circulates, at the chain's moving price.EMA price × (α in pool + α staked out − α burned). Root: spot price × α staked out.Source: SubnetMovingPrice, SubnetAlphaIn, SubnetAlphaOut and the burn counter, read from the chain.Subtracting burned α is what makes the figure agree with taoswap and taostats (under 0.6% apart on every subnet checked).
FDV (τ): Fully diluted valuation: the price applied to the 21 million α maximum supply every subnet shares.EMA price × 21,000,000Source: SubnetMovingPrice.Not shown for root.
Volume 24h (τ): TAO traded through the subnet's pool over the last 24 hours — buys plus sells.Σ τ of every buy and sell fill Taosis indexed in the windowSource: Taosis's own index of on-chain StakeAdded and StakeRemoved events.Stake transfers, moves and swaps between subnets are not counted: they carry the same τ as the pool legs written for them and would double-count.
Net flow 24h (τ): TAO that actually entered or left the pool over 24 hours: buys minus sells.tao_flow(now) − tao_flow(24 hours ago), from the chain's cumulative flow counterSource: SubnetTaoFlow, sampled by Taosis.Blank until Taosis holds 24 hours of samples, and blank if the baseline sample is more than 30 hours old — a gap must not widen a "24h" figure.

Supply

Supply (α): Every α that exists for the subnet: in the pool plus staked out.α in pool + α staked outSource: SubnetAlphaIn + SubnetAlphaOut.Burned α is still counted here, which is why supply × price sits above market cap on burn-heavy subnets.
Staked α: α held outside the pool — everything staked to validators, the owner's and locked α included.Source: SubnetAlphaOut.
α in pool: The α side of the subnet's liquidity pool.Source: SubnetAlphaIn.
Burned α: α destroyed for good on the subnet, with its τ value at the moving price.Source: The chain's AlphaBurned counter.A lower bound: the counter covers burns on one path since 2026-05-28.

Liquidity

TAO in pool: The τ side of the liquidity pool — the deeper it is, the less a trade moves the price.Source: SubnetTAO.Root's "reserve" is τ staked to root, not a pool; it is excluded from the network total.
ADR: Alpha dominance ratio: α held outside the pool for every α inside it. Above 1, holders own more than the pool could absorb, so a rush for the exit sells at a discount.max(α staked out − α burned, 0) ÷ α in poolSource: SubnetAlphaOut, AlphaBurned, SubnetAlphaIn.Still includes the owner's locked α and the protocol's own α.
Depth ±2% / ±5% (τ): TAO of net buying that would move the price up by that much, and TAO of net selling that would move it down by that much.Up: τ reserve × (√(1+δ) − 1) ÷ (1 − swap fee). Down: τ reserve × (1 − √(1−δ)).Source: SubnetTAO and the subnet's own swap fee, read from the chain.The down figure is always a little larger than the up figure at the same distance: fee treatment plus the curve's convexity, not a bug. Constant-product pool assumed.
Swap fee: The fee the pool takes on every swap, as set on the chain for this subnet.Source: Swap.FeeRate per subnet.Read per subnet, never a global constant — all subnets currently read 0.0504%.

Emission & yield

Emission %: The subnet's share of all the τ the chain emits each block: τ injected into its pool plus τ the protocol spends buying its α.(τ injected + τ spent on chain buys) ÷ the same sum over every non-root subnet, from one blockSource: SubnetTaoInEmission and SubnetExcessTao, sampled by Taosis.Blank when the block's split could not be read; 0 is a verified zero (the subnet's allocation fitted under the pairing cap that block).
Chain buys (τ/day): τ the protocol itself spends each day buying the subnet's α, because the block had more τ emission than α to pair it with.excess τ on the last block × 7,200 blocks per daySource: SubnetExcessTao.A rate read at one instant, not a measured day: the realized 24-hour figure sits a few percent away. Most subnets read a real 0.
Chain buys %: The subnet's share of every τ the protocol spends buying α network-wide.Source: SubnetExcessTao across non-root subnets.Spiky: the denominator moves too.
Root cut %: The share of the subnet's validator emission paid to people staking τ on root instead of to α holders on the subnet.γ·R ÷ (γ·R + α in pool + α staked out), with γ the chain's TaoWeight and R the τ staked on rootSource: TaoWeight, root's SubnetTAO, SubnetAlphaIn, SubnetAlphaOut — computed, never read from the chain's RootProp cache, which is stale on emptied subnets.A stake-weight split, not what root stakers were actually paid.
Miner burn %: The share of the subnet's miner emission captured by the owner's own neurons and destroyed instead of paid out.Σ over mechanisms of (mechanism weight × owner neurons' incentive ÷ all incentive)Source: Incentive per mechanism, MechanismEmissionSplit, the owner's registered hotkeys — read from the chain every 30 minutes.The owner does not pocket it; the chain scales the subnet's whole τ allocation by (1 − burn). The chain's own MinerBurned value is kept as an audit figure and can read 0 where the truth is 100%.
Default APR: The annualized yield of the subnet's most-staked validator whose yield is within 2 points of the best, from the dividends the chain actually paid.24-hour median of per-epoch dividend yield, annualizedSource: Taosis's own epoch samples of validator dividends, read from the chain.Blank means no meaningful stake paid dividends in the window — not a claim of 0%. Not sourced from any third-party API.
Pool injection (τ/block): τ injected into the subnet's pool per block — the pairing leg only, not the subnet's whole take.Source: SubnetTaoInEmission.See Emission % for the whole allocation.

Ownership & conviction

Takeover %: How far the largest non-owner hotkey's matured conviction has climbed toward the bar that lets an outsider claim ownership of the subnet.top non-owner hotkey conviction ÷ (18% × (α staked out − protocol α − α burned)), from the runtime's lock.rsSource: The chain's conviction lock maps, read every 10 minutes.100% is not eligibility: the runtime also requires the subnet to be at least one year old. The bar moves as α is minted, so a gauge can slip back while nobody unlocks. The 10% figure published elsewhere is not the chain's.
Largest lock %: How much of the subnet's whole α supply the single largest conviction lock has locked up and matured.leader's matured conviction ÷ (α in pool + α staked out), projected forward to the current blockSource: The chain's lock maps and its maturity rate.The leader is usually the owner. Projected between Taosis's syncs, so it keeps maturing.
Locked α / Locked τ: α locked in conviction on the subnet — every lock, owner included — and what that α would actually fetch if sold through the pool in one go, after fee and slippage.Locked τ (realizable) = constant-product exit of the locked α against the poolSource: Conviction lock maps, SubnetTAO, SubnetAlphaIn, swap fee.The spot valuation is a fiction on thin subnets: a large stack can take a 20% haircut on exit.
Owner: The coldkey that owns the subnet on the chain.Source: SubnetOwner.

Concentration

Holders: Distinct wallets (coldkeys) holding α of the subnet, above a 0.000001 α dust floor.Source: Taosis's scan of the chain's stake maps, converted from shares to α, refreshed every 10 minutes from indexed fills.Coldkeys, not people. Published only for subnets whose scan covered at least 98% of the α and reconciled with the chain's total.
HHI: How lopsided the ownership is once the owner's own stake is set aside: 0% evenly spread, 100% one wallet.Σ share² over holders, min-normalised: (HHI − 1/N) ÷ (1 − 1/N)Source: Taosis's holder scan, owner coldkey excluded.Min-normalised, so not comparable to the raw HHI most explorers publish.
Nakamoto: The fewest wallets that would have to act together to hold more than half the α, owner excluded.Source: Taosis's holder scan.Coldkeys, not independent parties. Shown as a dash below two holders.
Top 10 %: Combined share of the ten largest holders, owner excluded.Source: Taosis's holder scan.Blank below twenty holders, where it would read 100% for a reason that has nothing to do with capture.
Gini: Inequality of the same holder set, owner excluded: 0 perfectly equal, 1 one wallet holds everything.Source: Taosis's holder scan.

Lifecycle

Dereg #: Position in the deregistration queue: #1 is dissolved by the next new subnet registration.Non-immune subnets ranked by the chain's EMA price ascending, oldest first on tiesSource: SubnetMovingPrice, NetworkRegisteredAt, NetworkImmunityPeriod.
Immune: Inside its registration immunity (about 120 days), during which no new registration can deregister it — with the block it lapses.Source: NetworkRegisteredAt + NetworkImmunityPeriod.
Age: How long ago the subnet was registered on the chain.Source: NetworkRegisteredAt.
Miners: Miners actually being paid right now: neurons with a non-zero incentive score, counted across every mechanism, with the owner's own neurons taken out.Source: Incentive per mechanism and the owner's registered hotkeys, read every 30 minutes.
Mechs: Separate incentive mechanisms the subnet runs, each with its own miner set and slice of the emission.Source: MechanismCountCurrent (default 1).Almost every subnet has exactly one.

Chain storage names refer to the Bittensor runtime (SubtensorModule and related pallets) on finney. Formulas are the ones in Taosis’s own code; where a competitor computes a figure differently, the caveat says so.