Bittensor Emissions Calculator

Move the simple levers. Advanced stuff auto-calculates. Click "Advanced" to override if needed.

Your Subnet

Higher price = higher rank = more emissions and chain buys. This is your #1 lever.
Estimated rank AUTO ~32
Emission gate AUTO 50% (at the bar)

What You Control

0% = real mining competition (max emissions). Higher = burn alpha to control supply but lose emissions and chain buys.
What % of alpha miners sell. 0% = miners hold everything = zero miner sell pressure. Influence this through incentives.
What % of your 18% cut you sell. 0% = hold everything.
What % of validator alpha gets sold. Validators get 41% of emissions MINUS root's cut (rootProp). At 14.8% root proportion, validators keep ~35% and root gets ~6%. So at 100% sell, validator sells will be LESS than miner sells. No direct on-chain data for sell-through rate. FlowSniper Research (June 2026, 128 subnets) found median alpha price fell 10.1%/month while supply grew only 4.7%, implying most emissions get sold. Validators with 18% delegate take likely sell more to cover staker payouts. Range: 50-90% is realistic.

Root Reborn Validator Baskets

Null = root alpha sold by stakers for yield. Curated = root pool sells alpha + reinvests TAO into subnet baskets.
Show advanced settings

Advanced (auto-calculated, override if needed)

The price share at rank ~32 where the emission gate sits. Auto-set from field EMA and q=0.61.
Cliff sharpness. h=3 is mainnet default.
Sum of all other subnets' EMA prices. Auto-fetched. Determines your relative share.
Average miner burn across competing subnets. Affects their emission weight vs yours. Auto-estimated at 10%.
How mature your subnet is. Lower = more chain buys. Auto-fetched. Set by chain based on alpha issuance.

Emission Overview

Alpha price$1.90
Estimated rank~32
Emission gate50.0%
Your emission share0.609%
TAO inflow$4,748/day
Chain buys (auto-buyback)$2,724/day

Sell Pressure

Miner sells$0/day
Validator sells$1,433/day
Owner sells$0/day
Root sells (pays staker yield)$0/day
Total sells$1,433/day

Buy Pressure

Chain buys (excess TAO)$2,724/day
Injected TAO (pool liquidity)$0/day
Total buys$2,724/day

Net Result

NET BUY $1,291/day
Alpha Distribution (per day)
Miners get 41%5,904 alpha
Owner gets 18%2,592 alpha
Burned0 alpha
Validators get 35%5,018 alpha
Root gets 6%886 alpha
Validators + Root = 41%5,904 alpha
Net new circulating+14,400 alpha
Absorption
Buy absorption of sells190%
Daily alpha burned0

Scenario Matrix: Net $/day at different burn and miner sell levels

Green = NET BUY (protocol buys more than participants sell). Red = net sell. Uses your current price and basket settings.
Burn % Miners 0% Miners 10% Miners 20% Miners 30% Miners 50% Miners 75% Miners 100%

Formula Audit: What's Verified vs Approximated

VERIFIED against subtensor source code (run_coinbase.rs, subnet_emissions.rs)
1. Block emission: 0.5 TAO/block (logarithmic halving, DefaultBlockEmission=2.0, residual=2)
2. Alpha emission: 1.0 alpha/block (VERIFIED via taostats API: alpha_rewards = 1e9 rao)
3. Emission share: price_i * (1-miner_burned_i) / sum(...) [PR #3058 pending: removes burn weighting]
4. Hill gate: 1/(1+(theta/s)^h), applied per-subnet then renormalized
5. Alpha split: owner 18%, then 50/50 miners/validators. Root takes rootProp of validator half
6. Chain buy cap: root_proportion * alpha_emission (= rootProp * 1.0, VERIFIED against taostats)
7. Owner cut: 18% global, chain-set (not adjustable by subnet owner)
8. Root dividends: always sold for TAO (staker yield). Null = stakers sell individually. Curated = root pool sells + reinvests.
9. Injected TAO: total TAO inflow minus chain buys. Enters pool as liquidity paired with minted alpha. Absorbs sell pressure.

APPROXIMATIONS (cannot compute without full chain state)
A. Spot vs EMA: calculator uses spot price for SN25, on-chain uses SubnetMovingPrice (EMA). Overestimates speed of share changes.
B. Field gate = 1.0: on-chain gates each subnet individually. Weighted avg ~0.99 (active subnets pass, tail subnets ~0 weight). Error: ~1%.
C. Theta: linear scaling from calibration point. Valid when only SN25 price changes. Breaks if all prices scale together.
D. Field EMA: sum of all other subnet prices. If field changes, theta recalibrates.
E. Root dividend pool: 983 TAO/day (chain constant, may change with governance)

SIMULATION ASSUMPTIONS (user-set, not from chain)
S1. Miner sell %: no on-chain data for sell-through rate. Simulation parameter.
S2. Validator sell %: same. Based on FlowSniper research suggesting most alpha gets sold.
S3. Owner sell %: owner's choice to hold or sell.
S4. Root basket weights: future-state simulation for curated mode.
S5. Alpha emission = 1.0: verified via taostats API (alpha_rewards = 1e9 rao). If a subnet exceeds 21M alpha outstanding, emission may change.