Halving

The tokenomics of Bittensor follow Bitcoin: when half of the remaining supply has been issued, emission halves.

Tao and alpha both halve, but on independent schedules because their per-block emissions differ.

First halving (December 2025)

The first halving occurred in December 2025, when 10,500,000 tao had been issued. The block reward dropped by 50%.

• tao: per-block emission dropped from 1 → 0.5 τ/block (December 2025).

Current per-block emissions (post-Dec-2025)

Second halving

At 15.75M tao issued:

• tao: 0.5 → 0.25 τ/block

Third halving

At 18.375M tao issued:

• tao: 0.25 → 0.125 τ/block

etc.

See also

• Alpha Emission — how alpha emission is calculated each block.
• Tao Emission — how 0.5 τ/block is distributed across subnets.