BittensorHalving.com

The Bittensor halving is an automatic event that cuts the TAO block emission rate by 50% every time total issued supply reaches a predetermined threshold. It mirrors Bitcoin's deflationary model and is designed to reduce the rate of new TAO entering circulation over time. The total TAO supply is hard-capped at 21,000,000 — the same as Bitcoin.

The 2nd Bittensor halving is triggered automatically when total TAO issuance reaches 15,750,000 TAO — not at a specific block number. At that point, the block emission drops from 0.5 to 0.25 TAO per block, reducing daily TAO issuance from ~3,600 to ~1,800 TAO.

Subnet registration fees on the Bittensor network are recycled back into the emission pool rather than burned. This effectively returns TAO to circulating supply, which extends the time needed to reach the 15,750,000 TAO threshold and pushes the estimated halving date later. This is why the estimated date can shift.

Each block, emitted TAO is distributed across active subnets in proportion to staking flows. Within each subnet, emissions are split roughly as: 41% to miners, 41% to validators and their stakers, and 18% to the subnet owner. After the halving, all these amounts halve alongside the block reward — but the distribution ratios stay the same.

Dynamic TAO (dTAO), introduced in February 2025, is a system where each subnet has its own Alpha token and an automated market maker (AMM) pool. When you stake TAO into a subnet, you receive that subnet's Alpha token. The weight of each subnet — and therefore its share of TAO emissions — is determined by net TAO inflows (staking minus unstaking), letting the market organically allocate emissions based on perceived value.

Each Bittensor subnet has its own Alpha token with a hard cap of 21,000,000 — the same as TAO. Alpha tokens follow their own halving schedule that begins from the moment a subnet is created. A TAO halving halves Alpha pool injections, but Alpha rewards to miners, validators, and subnet owners are not directly affected by a TAO halving.