Data as of (block 9307813)
High APY ≠ profit.
Subnet staking pays you in that subnet's alpha token. If alpha falls against TAO, you can earn rewards and still end up with less TAO. This calculator shows what you'd actually walk away with.
What if?
Drag to see APY, slippage and break-even update below. Same estimates as the inputs above.
How it works, in plain English
Root staking (subnet 0) — you stake TAO and are paid in TAO. No alpha price risk, usually lower yield.
Subnet staking — your TAO is swapped into the subnet's alpha through a pool. Rewards are paid in alpha. When you leave, alpha is swapped back to TAO at whatever the price is then.
Slippage — each subnet pool is a weighted balancer. With equal weights it behaves as a constant-product pool (TAO × alpha = k). A swap fee applies on the way in and on the way out. Big trades in small pools move the price against you.
FAQ
Is subnet staking APY real profit?
Only in alpha terms. Your profit in TAO depends on the alpha/TAO price when you unstake. A 60% APY with a 50% alpha drop is still a loss.
What's the difference between root and subnet staking?
Root stakes TAO and earns TAO from a share of all subnets' validator emissions. Subnet staking holds alpha and earns alpha from one subnet.
How is the APY estimated?
Alpha emitted per block × 41% validator/staker share × (1 − root proportion) × (1 − validator take) × 7,200 blocks/day × 365, divided by alpha staked on the subnet. The default take is the stake-weighted average from on-chain Delegates (take ÷ 65535). You can pick a listed validator or type a custom take. Root APY uses each subnet's own average take, sells one epoch of root alpha through that subnet's pool (slippage and the swap fee), and divides the TAO by root stake. Holding-period results compound once per epoch. These are estimates; yields change every block. See Methodology.
How is slippage calculated?
Spot price is (base weight ÷ quote weight) × (TAO reserve ÷ alpha reserve), from the subnet's SwapBalancer weights. At equal weights, price = taoIn ÷ alphaIn. The swap fee is FeeRate ÷ 65535 (about 0.05%) on the TAO in and on the TAO out. Exit reserves are rebuilt at the scenario price while the weighted-pool invariant stays fixed.
Where does the data come from?
Directly from the Bittensor Finney chain via the public OpenTensor RPC — see the "as of" note above the results.
Weekly subnet changes, in plain English
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Not financial advice. Estimates only, for education. Yields, prices and liquidity change constantly. Do your own research.