New subnets

Creating a subnet takes a large amount of TAO, often thousands. The price doubles each time anyone registers a subnet, then falls back gradually until the next registration pushes it up again.

The owner cannot reclaim that TAO. The whole amount goes into the new subnet's pool as its starting TAO reserve.

A new subnet starts switched off. Only its owner can switch it on, and until they do, the subnet pays no emissions at all. It can still have a price during that time.

Once it is on, the subnet starts creating its own alpha straight away and pays it to miners, validators and the owner. Its share of new TAO follows its average price over time, which starts at zero, so a new subnet usually gets little or no TAO at first. Before assuming a new subnet pays rewards, check that it has been switched on.