💿Bittensor SRB

TAO Staking Rewards Benchmark (TAOSRB™) Methodology

TAOSRB is a benchmark representing the mean, annualized staking rate across all active Bittensor validators.

TAOSRB is calculated and published by Staking Rewards via the Bittensor Profile and Staking Data API.

$$TAOSRB = ae * vrs / st$$

Formula key	Metric name	Description
ae	Annual Emissions	The annual reward emissions established by the protocol.
vrs	Validator Reward Share	The share of the emissions that are to be distributed to validators of the protocol.
st	Staked Tokens	The sum of all staked tokens that are eligible for validator rewards.

Slashing

1. TAOSRB does not factor in the possibility of slashing occurrences.

2. The Bittensor protocol applies slashing when validators act maliciously

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TAO Validator Staking Reward Rate: TAOSRB(v)

Staking Rewards calculates the TAOSRB for each validator based on their individual performance and commission rate.

$$TAOSRB(v) = dr * 365 *(1 - c)$$

Formula key	Metric name	Description
dr	Daily Rewards	The rewards attributed to each validator based on performance, supported subnets, and staked tokens.
c	Commission	The fee imposed by a specific validator to its delegators.

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Observation Period:

1. The TAOSRB is determined based on the latest generated block at the evaluation point.

2. This data is then annualized for a comprehensive year-long projection.

Calculation

The calculation happens every 2 hours and is immediately published via Staking Data API.

Limitations

1. TAOSRB employs a 365-day convention for annualizing current slot times. This convention remains consistent and does not accommodate adjustments for leap years.

TAO Real Reward Rate: TAOSRB^R

The real reward rate calculates the TAOSRB adjusted for inflation in the network.

$$TAOSRB^R=1 + TAOSRB/(1+ir) -1$$

Formula key	Metric name	Description
ir	Inflation Rate	The annual rate at which supply increases. This value is equal to the annual emissions.

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Other Bittensor metrics calculated by Staking Rewards:

Metric	Description
Delegated Tokens	The number of TAO tokens delegated to validators.
Self Staked Tokens	The number of TAO tokens staked by validators directly.
Staking Wallets	Total number of unique delegations onchain. It doesn't distinguish based on unique delegator addresses.

References:

• TaoStats

• Staking Rewards TAO profile

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Last updated on 08/27/2024