# Taosis

> Taosis (https://taosis.com) is a Bittensor subnet explorer: live α prices, market data, validators, conviction locks, holder concentration and news for every subnet, read directly from the Bittensor chain. Non-custodial; no third-party market API. A figure Taosis cannot verify is shown as "—", never as a zero.

Operated under the trade name Taosis. Contact: contact@taosis.com. Terms and privacy: https://taosis.com/legal.

## What Taosis is authoritative about

- Subnet α prices, pool reserves, market cap, FDV, volume and net flow — computed from chain storage (SubnetTAO, SubnetAlphaIn, SubnetAlphaOut, SubnetMovingPrice, SubnetTaoFlow) and from Taosis's own index of on-chain fills.
- Emission share, chain buys, root cut and miner burn — from the chain's per-block emission storage and per-mechanism incentive vectors.
- Conviction locks, the takeover threshold (18% of eligible α, held by one hotkey, after a one-year age gate — from the runtime's lock.rs) and the deregistration queue.
- Holder concentration (holders, HHI, Nakamoto coefficient, Top 10 %, Gini) from a full scan of the chain's stake maps, owner excluded, refreshed every 10 minutes.
- Validators: on-chain identity names, take, delegated stake, nominators and APR from the dividends the chain actually paid.

## Key pages

- Screener (all 128 subnets, 45 metrics): https://taosis.com/subnets
- Definitions of every metric, with formulas and sources: https://taosis.com/definitions
- Subnet takeover watch: https://taosis.com/takeover
- Validators: https://taosis.com/validators
- Compare subnets: https://taosis.com/compare
- Explorer (any address, block or subnet): https://taosis.com/explorer
- News and GitHub releases per subnet: https://taosis.com/news
- Explainers: https://taosis.com/learn
- FAQ: https://taosis.com/faq
- Public JSON API (no key, rate-limited): https://taosis.com/api-docs — e.g. https://taosis.com/api/backend/markets/subnets

## Subnet pages

Each subnet has a page with its description, price chart, market figures, validators, holders, conviction and news: /subnets/{netuid}.

- SN64 Chutes: https://taosis.com/subnets/64
- SN51 lium.io: https://taosis.com/subnets/51
- SN4 Targon: https://taosis.com/subnets/4
- SN3 Teutonic: https://taosis.com/subnets/3
- SN8 Vanta: https://taosis.com/subnets/8
- SN120 Affine: https://taosis.com/subnets/120
- SN44 Score: https://taosis.com/subnets/44
- SN9 iota: https://taosis.com/subnets/9
- SN56 Gradients: https://taosis.com/subnets/56
- SN68 NOVA: https://taosis.com/subnets/68
- SN34 BitMind: https://taosis.com/subnets/34
- SN5 Hone: https://taosis.com/subnets/5
- SN53 engy: https://taosis.com/subnets/53
- SN75 Hippius: https://taosis.com/subnets/75
- SN19 blockmachine: https://taosis.com/subnets/19
- SN62 Ridges: https://taosis.com/subnets/62
- SN93 Bitcast: https://taosis.com/subnets/93
- SN17 404—GEN: https://taosis.com/subnets/17
- SN95 Actual: https://taosis.com/subnets/95
- SN14 Cacheon: https://taosis.com/subnets/14
- SN1 Apex: https://taosis.com/subnets/1
- SN28 SayGM: https://taosis.com/subnets/28
- SN107 Minos: https://taosis.com/subnets/107
- SN11 TrajectoryRL: https://taosis.com/subnets/11
- SN13 Data Universe: https://taosis.com/subnets/13
- SN39 deprecated: https://taosis.com/subnets/39
- SN81 Reliquary: https://taosis.com/subnets/81
- SN10 Pareton: https://taosis.com/subnets/10
- SN52 Dojo: https://taosis.com/subnets/52
- SN61 RedTeam: https://taosis.com/subnets/61
- SN25 UR: https://taosis.com/subnets/25
- SN15 ORO: https://taosis.com/subnets/15
- SN33 ReadyAI: https://taosis.com/subnets/33
- SN43 Graphite: https://taosis.com/subnets/43
- SN124 Swarm: https://taosis.com/subnets/124
- SN97 Albedo: https://taosis.com/subnets/97
- SN85 Vidaio: https://taosis.com/subnets/85
- SN12 Compute Horde: https://taosis.com/subnets/12
- SN41 Almanac: https://taosis.com/subnets/41
- SN77 Liquidity: https://taosis.com/subnets/77
- SN63 Enigma: https://taosis.com/subnets/63
- SN50 Synth: https://taosis.com/subnets/50
- SN48 Quantum Compute: https://taosis.com/subnets/48
- SN18 Zeus: https://taosis.com/subnets/18
- SN24 Quasar: https://taosis.com/subnets/24
- SN54 Yanez: https://taosis.com/subnets/54
- SN46 Instant: https://taosis.com/subnets/46
- SN30 Endure Network: https://taosis.com/subnets/30
- SN83 CliqueAI: https://taosis.com/subnets/83
- SN29 hoτfloaτ: https://taosis.com/subnets/29
- SN37 Aurelius: https://taosis.com/subnets/37
- SN6 Numinous: https://taosis.com/subnets/6
- SN2 DSperse: https://taosis.com/subnets/2
- SN110 Green Compute: https://taosis.com/subnets/110
- SN22 Desearch: https://taosis.com/subnets/22
- SN21 AdTAO: https://taosis.com/subnets/21
- SN60 Bitsec.ai: https://taosis.com/subnets/60
- SN66 conjectures: https://taosis.com/subnets/66
- SN79 MVTRX: https://taosis.com/subnets/79
- SN42 Unknown: https://taosis.com/subnets/42
- SN23 Trishool: https://taosis.com/subnets/23
- SN32 ItsAI: https://taosis.com/subnets/32
- SN73 Parked: https://taosis.com/subnets/73
- SN114 SOMA: https://taosis.com/subnets/114
- SN20 Witness: https://taosis.com/subnets/20
- SN55 NIOME: https://taosis.com/subnets/55
- SN118 Ditto: https://taosis.com/subnets/118
- SN88 Investing: https://taosis.com/subnets/88
- SN72 StreetVision by NATIX: https://taosis.com/subnets/72
- SN89 InfiniteQuant: https://taosis.com/subnets/89
- SN45 AlphaRidge.ai: https://taosis.com/subnets/45
- SN27 Orion: https://taosis.com/subnets/27
- SN7 Allways: https://taosis.com/subnets/7
- SN74 Gittensor: https://taosis.com/subnets/74
- SN65 True Performance Network: https://taosis.com/subnets/65
- SN104 TAOstatus: https://taosis.com/subnets/104
- SN106 Nodexo: https://taosis.com/subnets/106
- SN111 Claims: https://taosis.com/subnets/111
- SN121 sundae_bar: https://taosis.com/subnets/121
- SN123 MANTIS: https://taosis.com/subnets/123
- SN125 Refinery: https://taosis.com/subnets/125
- SN38 ChronoLLM: https://taosis.com/subnets/38
- SN71 Leadpoet: https://taosis.com/subnets/71
- SN98 NeverPlayAlone: https://taosis.com/subnets/98
- SN105 Beam: https://taosis.com/subnets/105
- SN69 Herald: https://taosis.com/subnets/69
- SN128 ByteLeap: https://taosis.com/subnets/128
- SN49 Nepher Robotics: https://taosis.com/subnets/49
- SN112 for sale: https://taosis.com/subnets/112
- SN91 cascade: https://taosis.com/subnets/91
- SN101 Tag101: https://taosis.com/subnets/101
- SN80 OpenRoboto: https://taosis.com/subnets/80
- SN102 ConnitoAI: https://taosis.com/subnets/102
- SN115 MoirAI: https://taosis.com/subnets/115
- SN96 Verathos: https://taosis.com/subnets/96
- SN119 CapabilityForge Next: https://taosis.com/subnets/119
- SN127 Astrid: https://taosis.com/subnets/127
- SN117 glyph: https://taosis.com/subnets/117
- SN67 Harnyx: https://taosis.com/subnets/67
- SN100 Cortex: https://taosis.com/subnets/100
- SN90 KubeTEE: https://taosis.com/subnets/90
- SN126 Poker44: https://taosis.com/subnets/126
- SN94 pending...: https://taosis.com/subnets/94
- SN26 Perturb: https://taosis.com/subnets/26
- SN31 rec4ll: https://taosis.com/subnets/31
- SN40 Ralph: https://taosis.com/subnets/40
- SN113 TensorUSD: https://taosis.com/subnets/113
- SN108 Prometheon: https://taosis.com/subnets/108
- SN87 Provenonce: https://taosis.com/subnets/87
- SN78 Umi: https://taosis.com/subnets/78
- Subnet 84: https://taosis.com/subnets/84
- SN116 Memo: https://taosis.com/subnets/116
- SN122 CookingTAO: https://taosis.com/subnets/122
- Subnet 57: https://taosis.com/subnets/57
- SN109 Finsight: https://taosis.com/subnets/109
- SN82 Compelle: https://taosis.com/subnets/82
- SN47 Feval: https://taosis.com/subnets/47
- SN36 Epago: https://taosis.com/subnets/36
- SN58 greevils: https://taosis.com/subnets/58
- SN92 MicroTensor: https://taosis.com/subnets/92
- Subnet 86: https://taosis.com/subnets/86
- SN99 Thirty Spokes: https://taosis.com/subnets/99
- SN35 OxMarkets: https://taosis.com/subnets/35
- SN59 Babelbit: https://taosis.com/subnets/59
- SN76 Ormas: https://taosis.com/subnets/76
- SN103 Capcomp: https://taosis.com/subnets/103
- Subnet 70: https://taosis.com/subnets/70
- SN16 trav: https://taosis.com/subnets/16

## 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.

## Metric definitions

### Price

- **Price (τ)** — The spot price of one α of the subnet, in TAO: the ratio of the pool's two reserves. Formula: price = τ in pool ÷ α in pool. Source: SubnetTAO and SubnetAlphaIn, read from the chain every few minutes. Caveat: 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. Formula: Exponential moving average maintained by the chain (SubnetMovingPrice), never above 1 τ.. Source: SubnetMovingPrice, read from the chain. Caveat: 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. Formula: (price now − price then) ÷ price then. Source: Taosis's price_history table, sampled from the chain since 2026-08-24. Caveat: 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. Formula: 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. Caveat: 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. Formula: EMA price × 21,000,000. Source: SubnetMovingPrice. Caveat: Not shown for root.
- **Volume 24h (τ)** — TAO traded through the subnet's pool over the last 24 hours — buys plus sells. Formula: Σ τ of every buy and sell fill Taosis indexed in the window. Source: Taosis's own index of on-chain StakeAdded and StakeRemoved events. Caveat: 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. Formula: tao_flow(now) − tao_flow(24 hours ago), from the chain's cumulative flow counter. Source: SubnetTaoFlow, sampled by Taosis. Caveat: 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. Formula: α in pool + α staked out. Source: SubnetAlphaIn + SubnetAlphaOut. Caveat: 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. Caveat: 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. Caveat: 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. Formula: max(α staked out − α burned, 0) ÷ α in pool. Source: SubnetAlphaOut, AlphaBurned, SubnetAlphaIn. Caveat: 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. Formula: 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. Caveat: 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. Caveat: 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. Formula: (τ injected + τ spent on chain buys) ÷ the same sum over every non-root subnet, from one block. Source: SubnetTaoInEmission and SubnetExcessTao, sampled by Taosis. Caveat: 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. Formula: excess τ on the last block × 7,200 blocks per day. Source: SubnetExcessTao. Caveat: 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. Caveat: 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. Formula: γ·R ÷ (γ·R + α in pool + α staked out), with γ the chain's TaoWeight and R the τ staked on root. Source: TaoWeight, root's SubnetTAO, SubnetAlphaIn, SubnetAlphaOut — computed, never read from the chain's RootProp cache, which is stale on emptied subnets. Caveat: 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. Formula: 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. Caveat: 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. Formula: 24-hour median of per-epoch dividend yield, annualized. Source: Taosis's own epoch samples of validator dividends, read from the chain. Caveat: 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. Caveat: 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. Formula: top non-owner hotkey conviction ÷ (18% × (α staked out − protocol α − α burned)), from the runtime's lock.rs. Source: The chain's conviction lock maps, read every 10 minutes. Caveat: 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. Formula: leader's matured conviction ÷ (α in pool + α staked out), projected forward to the current block. Source: The chain's lock maps and its maturity rate. Caveat: 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. Formula: Locked τ (realizable) = constant-product exit of the locked α against the pool. Source: Conviction lock maps, SubnetTAO, SubnetAlphaIn, swap fee. Caveat: 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. Caveat: 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. Formula: Σ share² over holders, min-normalised: (HHI − 1/N) ÷ (1 − 1/N). Source: Taosis's holder scan, owner coldkey excluded. Caveat: 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. Caveat: 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. Caveat: 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. Formula: Non-immune subnets ranked by the chain's EMA price ascending, oldest first on ties. Source: 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). Caveat: Almost every subnet has exactly one.

## Explainers

- What a subnet is: https://taosis.com/learn/what-is-a-subnet
- How the α price works: https://taosis.com/learn/how-alpha-price-works
- Tempo and emission: https://taosis.com/learn/what-is-tempo-and-emission
- How validator APR is computed: https://taosis.com/learn/how-validator-apr-is-computed
- Validator reliability: https://taosis.com/learn/what-validator-reliability-means
- Reading price attribution: https://taosis.com/learn/reading-price-attribution
- Deregistration risk: https://taosis.com/learn/understanding-deregistration
- Conviction locks: https://taosis.com/learn/what-conviction-locks-are
- Holder concentration: https://taosis.com/learn/what-holder-concentration-means
- Cost basis and P&L: https://taosis.com/learn/cost-basis-and-pnl
- Staking safely: https://taosis.com/learn/staking-safely
- What Taosis can and cannot know: https://taosis.com/learn/what-taosis-can-and-cannot-know

## Data policy

- Every chain figure is read from the Bittensor chain (finney) by Taosis's own watcher; TAO/USD conversion is display-only.
- Numbers refresh every few minutes; conviction and holder data every 10 minutes; validators hourly. Each page states when its data was read.
- Nothing on the site is financial advice.