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What a subnet is

A subnet is an independent market for one kind of work, with its own token, its own miners and its own price.

Tempo and emission

Emission is the chain paying for work on a fixed schedule — the metronome behind every subnet number.

How the α price works

It is a ratio between two chain values, not an order book — which is why the price can move with no trade at all.

How validator APR is computed

One epoch of observed dividends, net of take, annualised — computed from the chain, and honest about being a snapshot.

Reading price attribution

Trading versus emission, decomposed exactly rather than fitted — with the leftover always published.

Cost basis and P&L

WAC or FIFO, replayed over indexed fills — with coverage stated, because a partial history makes a fake profit.

Validator reliability

A track record cannot be backfilled, so this one says "insufficient" until it has genuinely watched long enough.

Deregistration risk

Registering a new subnet dissolves the weakest existing one. Here is how the queue is ordered and what it costs.

Conviction locks

Locking α builds conviction on a schedule set in the chain's own source — including the 18% takeover threshold.

Holder concentration

Three different questions about who holds a subnet — and why the numbers refuse to appear unless they reconcile.

Staking safely

What you are actually signing when you stake through Taosis, and what Taosis can never do with it.

What Taosis can and cannot know

The one page to read first: why a blank is never a zero, and why some questions are refused outright.