"Bittensor “fair launched” (no tokens were pre-mined) in 2021. The supply of Tao is capped at 21,000,000, so, like Bitcoin, it is scarce. There is also a halving cycle such that every 10.5 million blocks rewards per block are halved. Currently, every 12 seconds (one blockstep) a single Tao is minted into the network, giving allocation a consistency that safeguards against inflation. There will be 64 halving events in total with the first occurring in 2025. Follow this link to view the current supply and block number.

Emissions between Servers and Validators

50% of each Tao minted per block is distributed to the Validators with the other 50% going to the Servers per the consensus mechanism. Validators earn Tao proportional to their stake in the network in regard to the bonding matrix. Validator emissions generally follow a normal distribution (bell curve), however, there are some possible optimizations to be made to Validators that may improve their Tao earnings.

Servers compete amongst each other for the other 50% of Tao minted per block and are ranked on their performance by the Validators. Servers with higher rankings earn more Tao.