The Emissions Gate

Bittensor spec v440 went live 27 July 2026: emission now flows through a hill gate that concentrates it above a demand bar and chokes the tail. Modelled here per subnet — including the TAO/day each pool receives, which in dTAO is injected straight into that subnet's AMM.

REPORTSCREENER

THE BAR · θ

0.851%

32 SUBNETS ABOVE IT

WINNERS

GAIN EMISSION VS DEMAND

LOSERS

1 OF THEM EMISSION-DISABLED

STRONGEST POOL PRESSURE

2.81%

GREEVILS · DAILY INJECTION VS DEPTH

BIGGEST WINNER · lium.io +4.62pp → 616 τ/day into its pool· 71% of all emission is chain buys — protocol TAO buying alpha on the poolsbiggest loser: Compelle -3.65pp

The gainers — more emission than before

every subnet taking a LARGER share under v440, scored on the backtested criteria — updated daily

Subnet	Δ emission	τ / day	≈ USD / day	EIS	Depth	Cool	Align	Unlock	Heat	Since gate
Hone SN5	+0.05pp	46 τ	$10K	78.3	86	94	63	87	0.02×	—
iota SN9	+0.72pp	111 τ	$24K	76.6	92	71	97	50	0.13×	—
Gradients SN56	+0.22pp	60 τ	$13K	76.5	91	91	53	91	0.05×	—
Chutes SN64	+2.47pp	337 τ	$72K	76.3	100	87	61	61	0.06×	—
Vanta SN8	+1.18pp	168 τ	$36K	75.3	97	69	84	59	0.14×	—
deprecated SN3	+0.63pp	100 τ	$21K	74.5	94	80	52	81	0.10×	—
BitMind SN34	+0.05pp	46 τ	$10K	73.1	89	92	56	71	0.03×	—

Losers — choked by the gate

below the bar, or emission-disabled entirely (OFF)

Subnet	Demand	Gate	New emission	Δ vs demand	TAO / day	≈ USD / day
Compelle SN82OFF	3.65%	0.988	0.00%	-3.65pp	0 τ	$0
Leoma SN36	1.08%	0.672	0.22%	-0.85pp	8 τ	$2K
NexisGen SN70	1.10%	0.683	0.37%	-0.73pp	13 τ	$3K
RedTeam SN61	0.66%	0.317	0.22%	-0.44pp	8 τ	$2K
Yanez MIID SN54	0.58%	0.241	0.17%	-0.41pp	6 τ	$1K
glyph SN117	0.65%	0.307	0.26%	-0.39pp	9 τ	$2K
ChronoLLM

Bar Watch — the subnets on the line

ranks 24–40 · the bar sits at rank 32 · what a 25% demand move would cost or earn

Rank	Subnet	Emission share	τ / day	Chain buys / day	× bar	Gate pass	If demand −25%	If demand +25%	Regime
#24	greevils SN58	1.17%	42 τ	2 τ	1.36×	72%	−19 τ	+19 τ	—
#25	wgmi SN92	1.05%	38 τ	0 τ	1.26×	67%	−18 τ	+19 τ	—
#26	Almanac SN41	0.91%	33 τ	23 τ	1.18×	62%	−17 τ	+17 τ	ORGANIC
#27	Cacheon

Organic vs Propped — who is really buying

for subscribers

Method. Emission share and TAO/day are the chain's actual per-block rate — pool injection plus chain buys, which sum to the network's ≈0.5 TAO/block (3,599 TAO/day). The demand and gate columns model why: demand share = alpha price ÷ total alpha price, discounted by miner burn; θ = the demand share of the subnet ranked 32 (the chain's rank mode); gate(s) = s^3/(s^3+θ^3); emission redistributed among enabled subnets. Volume is average daily traded TAO (buys + sells) from our own classified tape over each window — one basis for all three columns, so they are directly comparable; the tape records trades ≥0.5 τ, so dust is excluded. Caveat: the chain gates on an on-chain EMA price (`moving_price`) that no public API exposes — the demand and gate columns use live AMM spot price, which reproduces the chain's actual shares to within ~0.5pp in total but will lead or lag for subnets whose price moved sharply in recent weeks. Not investment advice.

Emission Gate

The Emissions Gate

The gainers — more emission than before

Losers — choked by the gate

Bar Watch — the subnets on the line

Organic vs Propped — who is really buying

Pool pressure — where the flow actually bites

Emission Impact Score — full table

Starved — pools with no protocol bid