How subnets get their share

Not every subnet receives the same amount of new TAO. The share follows price.

The chain looks at each subnet's alpha price, smoothed over time into a moving average. A subnet whose average price is a larger part of the total gets a larger part of the emissions. Demand for a subnet's token is what earns it TAO.

The average moves slowly on purpose. A new subnet starts near zero and takes weeks to build up, which stops a short burst of buying from grabbing a large share.

Weak subnets get less still. A gate reduces the share of subnets far below the leading group, so a subnet needs real demand, not just a listing, to earn much. A subnet that sends miner rewards back to its own owner also has its share cut.