Author: Kaff Compiled by: Yuliya, PANews TL;DR Bittensor consists of 128 independent subnets, each operating like a startup with its own token (Alpha), revenue model, and team. There are two ways to make money: TAO emissions (protocol subsidies based on staking inflows) and Alpha token P&L (capital gains from subnet performance). Since Taoflow in November 2025, subnets with negative net staking inflows will receive zero emissions, forcing them either online or eliminated. Approximately 3600 TAO (about $960,000) are distributed daily across all subnets, with the top ten controlling roughly 56% of the share.

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