Delegation
Any hotkey may become a delegate and receive nominations of stake from other wallets in the network. Key owners of delegates collect an 18% "take" on emissions of all delegated Tao.
When a coldkey creates a hotkey delegate, it will receive all of the emissions from the stake it adds to its hotkey delegate. The delegate owner will also collect 18% of the emissions from all delegated stake.
Turn your hotkey into a delegate:
btcli nominate
Stake to a delegate account:
btcli delegate
List all the delegates in the network:
btcli list_delegates
Show who you are delegating to:
btcli my_delegates
E = emissions earned by the key per block
Sn = Stake from owner
St = Total stake on hotkey
Delegate key owner
\[ Emissions\ received = \mathrm{E} \cdot 0.18 + \left( \mathrm{Sn} / \mathrm{St} \right) \cdot \left( \mathrm{E} - \mathrm{E} \cdot 0.18 \right) \]
~delegates receive an 18% tax
Delegated stake owners
\[ Emissions\ received = \left( \mathrm{Sn} / \mathrm{St} \right) \cdot \left( \mathrm{E} - \mathrm{E} \cdot 0.18 \right) \]
~delegated stake owners pay an 18% tax through emissions