Ctrl K

Level 1How Bittensor works10 lessons
Subnets, the people in them, and the chain that pays them.
Level 2Your wallet9 lessons
The keys that own your TAO, and how to keep them safe.
Level 3Staking8 lessons
Backing a validator with your TAO, and what it earns.
Level 4Subnets5 lessons
Who runs a subnet, who joins it, and how ownership can change.
Level 5Emissions7 lessons
Where new tokens come from, and who receives them.
Level 6Subnet lifecycle4 lessons
How subnets start, how they end, and what it means for the people holding their alpha.
Level 7Root4 lessons
How staking on root earns, since Root Reborn.
Level 8How rewards are decided5 lessons
How validators' scores turn into payments.
Level 9Validators5 lessons
What validators do, how they qualify, and what to look at when choosing one to stake with.

The halving

TAO has a fixed limit of 21 million, so the rate of new TAO has to fall over time. It falls through halvings.

A halving is not set by date. It happens when the total amount of TAO issued crosses a threshold. The first was at 10.5 million, half the supply. The next is at 15.75 million, half of what remains, and so on.

The first halving happened in December 2025. Emissions dropped from 1 TAO per block to 0.5 TAO per block.

A halving also halves what flows into every subnet's pool, which slows the creation of every subnet's alpha too.

Each subnet's alpha has its own 21 million limit and follows the same halving pattern, counted from that subnet's own start.