Registering as a miner

To join a subnet as a miner, you pay a registration price. That price moves.

It falls steadily over time and jumps each time someone registers, so a rush of registrations quickly becomes expensive. There are no registration windows. The price alone controls how fast people can join.

A subnet can turn part of that price into collateral. Instead of paying it all away, part of it is locked as stake on the miner's hotkey. The miner earns it back gradually, but only by earning rewards on that subnet.

An honest miner gets the collateral back over time. A fake or idle registration never earns, so its collateral stays locked.