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. The owner has to start it once a short activation delay has passed. Even then, the subnet's share of network emissions stays off until root enables it. Only root can turn that on, and the owner cannot.

For a trader, this means a brand-new subnet can exist and have a price while still receiving no emissions. It is worth confirming that emissions are on before assuming a new subnet pays rewards.