SN18 Zeus: the complete guide

The spot price of one α of the subnet, in TAO: the ratio of the pool's two reserves.

The value of every α that circulates, at the chain's moving price.

Fully diluted valuation: the price applied to the 21 million α maximum supply every subnet shares.

Every α that exists for the subnet: in the pool plus staked out.

α destroyed for good on the subnet, with its τ value at the moving price.

The τ side of the liquidity pool — the deeper it is, the less a trade moves the price.

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.

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.

τ of every buy and sell leg on the subnet over the last 24 hours — buys plus sells, including the legs the chain writes for stake moves and transfers.

The two sides of the 24-hour volume, apart: τ of every buy fill (in) and τ of every sell fill (out) on the subnet over the last 24 hours, the buy and sell legs of stake moves and transfers included.

The number of buy and sell fills on the subnet over the last 24 hours, and how many distinct coldkeys made at least one buy (buyers) or one sell (sellers).

How much of the subnet's market cap changed hands in the last 24 hours.

The average τ per α if every α anybody holds outside the pool were sold into the pool at once, swap fee included, at the current reserves.

The τ that single sale of every circulating α would fetch in total.

τ that users staked into the subnet minus τ they unstaked over the last ~24 hours — stake, unstake, stake moves and swaps between subnets, and limit orders. The protocol's own τ is not in it: no emission injection, no chain buys of α, no root-basket trades.

The same user flow as the 24-hour figure — τ staked minus τ unstaked — over the last ~7 days.

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 the protocol swaps into the subnet's pool each block to buy its α: the part of the subnet's τ emission above the α-injection cap (root proportion × α emission). The α bought accrues to the protocol (SubnetProtocolAlpha).

The share of the subnet's validator emission paid to people staking τ on root instead of to α holders on the subnet.

The share of the subnet's miner emission captured by the owner's own neurons and destroyed instead of paid out.

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.

The annualized yield of the subnet's default validator — among its paid validators holding at least 5% of the largest paid stake, the most-staked one whose yield is within 2 points of the best — from the dividends the chain paid its nominators last epoch. Simple: one epoch's return multiplied by the epochs in a year, with no compounding.

The same validator's yield if every epoch's dividends stay staked and earn in turn — which is what the chain does: dividends are added to the stake every epoch. It is the APR (simple) compounded once per epoch, never a separate measurement.

Where the subnet's α emission goes each day at the current per-block rate: the owner's cut, the miners' half, the part withheld from the owner's own miner slots, the validators' half, and within it the root stakers' part — each in α and in its τ value at the spot price.

The coldkey that owns the subnet on the chain.

The owner coldkey's own pool trades on its subnet over the window: α sold minus α bought, and τ received minus τ spent. A negative figure reads "net bought".

How much of the subnet's whole α supply the single largest conviction lock has locked up and matured.

How far the strongest challenger — the hotkey with the most matured conviction among those another coldkey than the owner's owns — has climbed toward the bar that lets it claim ownership of the subnet.

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.

Position in the deregistration queue: #1 is dissolved by the next new subnet registration.

Inside its registration immunity (about 120 days), during which no new registration can deregister it — with the block it lapses.

How long ago the subnet was registered on the chain.

Distinct wallets (coldkeys) holding α of the subnet, above a 0.000001 α dust floor — the owner's coldkey included, like every other.

How lopsided the ownership is once the owner's own stake and the protocol's root-basket escrow are set aside: 0% evenly spread, 100% one wallet.

The fewest wallets that would have to act together to hold more than half the α, owner and root-basket escrow excluded.

Inequality of the same holder set, owner and root-basket escrow excluded: 0 perfectly equal, 1 one wallet holds everything.

From GitHub's public commits feed of Orpheus-AI/Zeus (main), read every 6 hours; as of Oct 16, 2026, 20:49 UTC. "20+" means at least that many: the feed lists the latest 20 only. One repository and one branch — a team shipping elsewhere can read as quiet here.