Emissions and Yuma Consensus

Subtensor mints new TAO every block. The amount follows a halving schedule based on total issuance against the 21,000,000 cap rather than a fixed calendar interval; after the first halving, block emission sits at roughly 0.5 TAO. At about 7,200 blocks per day, that is on the order of 3,600 TAO entering circulation daily.

Each block's emission is divided between subnets according to their share of net TAO inflow, smoothed as an exponential moving average. In plain terms: subnets that attract staking capital receive a larger slice, and subnets losing capital receive less.

A subnet's TAO allocation is injected into its liquidity pool, and a corresponding amount of alpha is minted at the pool price. Participants inside the subnet are paid in alpha, not in TAO directly.

Once alpha has accrued to a subnet, the protocol divides it between three groups. The subnet owner's cut comes off the top, and the remainder is split evenly between miners and validators.

Two refinements are worth knowing. If the sum of all subnets' moving-average alpha prices exceeds 1.0, part of the validator half is reserved for root TAO stakers as claimable dividends. And if an epoch ends with zero total miner incentive, the miner half for that tempo is paid to validators instead of being withheld.

Yuma Consensus is the algorithm that converts validator weights into the scores that determine payment. It runs at each epoch boundary, and its purpose is to make the outcome reflect broad validator agreement rather than any single validator's opinion.

The process, simplified:

• Each validator submits a weight vector over miners during the epoch.
• Weights are scaled by the submitting validator's stake, so a large validator counts for more than a small one.
• Weights that fall far outside the stake-weighted consensus are clipped, limiting the damage an outlier or colluding validator can do.
• The clipped, stake-weighted result produces rank, trust, consensus, and finally incentive for each miner.
• Validators whose submissions tracked consensus earn higher dividends than those that did not.

The practical consequence for a miner is that being favoured by one validator is not enough. Earning meaningfully requires most of the stake-weighted validator set to score you highly.

Incentive is normalised across a subnet's miners, so a miner's incentive is already its share of the miner pool. That makes the calculation direct:

miner_pool_per_day = subnet_emission_per_day × 0.41
miner_earnings_per_day = miner_pool_per_day × miner_incentive_share

TaoScope applies exactly this to live data. The subnet emission comes from the chain, the 41% is the protocol constant above, and the incentive share is read from the subnet metagraph. No curve is assumed and no distribution is modelled.

Why the figure moves

The result is a snapshot of current conditions, not a forecast. It changes when the subnet's emission share moves, when miners join or leave, when validators reweight, and when the alpha price moves. Treat it as “what this position pays today”, and see the metrics glossary for the precise definition of every input.