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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.

Emissions

Emissions are the new tokens the network creates to pay for work.

With every block, Subtensor creates new TAO. Today that is 0.5 TAO per block, about 3,600 TAO a day. That TAO is shared among the subnets and added to their pools.

Each subnet also creates its own alpha. Part of it goes into the pool next to the new TAO, which adds liquidity without moving the price. The rest is set aside for the people in the subnet: the owner, the miners, the validators and their stakers.

So emissions do two jobs at once. They deepen every subnet's pool, and they pay the people doing and checking the work.

Emissions | Crucible