Halving

The process where Bittensor's daily token emission rate cuts in half, similar to Bitcoin's halving mechanism.

What is a Halving?

The Halving in Bittensor reduces the rate of new TAO tokens entering circulation. Unlike Bitcoin which halves based on block numbers, Bittensor implements its halving based on the total token supply. When specific supply thresholds are reached, the emission rate of TAO is cut in half.

When Will It Happen?

The first halving will occur in approximately:

00:00:00:00

Thursday, January 9, 2025 at 04:03:41 PM UTC

HALVING DATE

The actual date of the halving is constantly changing because of the amount of TAO being recycled each day. The estimation above does assume that today's recycling date will continue.

TIP: The data is being refreshed constantly, so it may be helpful to revisit this timer from time to time.

Recycling Delay

Recycling of registration fees can delay the halving date. When tokens are recycled, they return to the emission pool and thus taking tokens out of the circulating supply. This process extends the time until the next halving event. The more tokens recycled, the longer it takes to reach the next halving point.

Impact on Network

The halving affects all network participants. Today's emission add 7,200 TAO to circulation each day (without recycling in mind). After the first halving, this rate will drop to 3,600 TAO per day. These emissions get distributed among miners , validators , and subnet owners . All participants will receive fewer rewards for the same work. This reduction in supply can create value pressure on the token, in this case TAO.