News·r/bittensor_·Sep 6, 2026, 08:31 UTC

Why does tao have halvings?

Maybe I don't understand the protocol very well, but from what I gather, people can pay tao to start a subnet, which then gets its own alpha token to incentivize miners to generate something and validators to check that something works according to the subnet owners specs. People can the. Swap tao for that alpha, and allocate the alpha to a validator. Good miners get more alpha. Validators that pick good miners get more alpha, and thus pay out more dividends to their nominators. So a stake can earn from dividends and from alpha going up. So far everything makes sense to me. There is demand for tao because that is what is needed to participate in the system, and demand for alpha because it is in some sense yield bearing. Yet, this all seems like a subnet creator pays the network with tao to get access to miners/validators and to get a subsidy in terms of alpha for them. However, doesn't this mean that as tao emissions decay, the subsidy advantage wanes? I understand subsidizing older subnets less as time goes by, but if tao emissions decay, future newborn subnets will simply not get the advantage of the subsidy. Correct? I dont understand how the system remains time invariant, why would people in the future pay for a subnet being created, if part of the allure is the subsidy? submitted by /u/guachoperez [link] [comments]

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