SN125 · 𑀂
Refinery
Market snapshot
USD · Finalized data- Price
- $0.631971
- Market cap
- $2,111,042
- Emission share
- 0.0032% of network emissions
- Emission change · 24h
- -0.0004 pts percentage points
- Pool TAO reserve
- $1,326,220
- Trading volume · 24h
- $13,785
- Estimated staker APY
- 89.39%63.87% APR1 epoch · subnet-wideSnapshot 21:15:36 UTC
Basis & stability
A subnet-wide estimate from one latest net reward epoch divided by recent staked alpha. This is not a specific validator’s return or a 7/30-day measured yield.
Latest net epoch dividends: 108.950506 α. Recent staked alpha: 1,241,865.114188 α (circulating alpha minus pool alpha). Stake may have changed after the reward epoch.
Observed epoch rate: 0.0088%. Annualization interval: 361 blocks. APR repeats the epoch rate without compounding; APY compounds it, assuming 7,200 blocks/day for 365 days and the same rate every epoch.
A small or changing stake denominator and a transient reward epoch can amplify annualization. Repeating one epoch for a year is not a forecast. Net rewards already reflect fees; no second take deduction. Token-price changes are excluded.
Snapshot: 2026-10-22T21:15:36+00:00. This timestamps the input snapshot, not the reward epoch. Exact reward-epoch time and a multi-epoch stability history are not supplied.
- Locked alpha
- 226.02K α 8.83% of α-out
- Staked / outstanding alpha
- 2.56M α SubnetAlphaOut
- Estimated deregistration payout
- $1.06 per alpha · conditional estimate
- Payout vs market price
- +67.91% only on deregistration
- Liquidity flow · 24h
- -0.76% TAO reserve change
What these figures mean
Market cap is the current alpha price multiplied by the circulating supply used by our market feed. Pool reserve is TAO held in the subnet pool, shown in the selected currency; it is not the amount you can sell without price impact.
Emission share is allocation, not price performance. Its color tracks the 24-hour change in percentage points. Estimated subnet-wide APY compounds recent net staking rewards; APR does not compound. Both exclude token-price changes and are not a specific validator’s yield.
Locked alpha is a portion of SubnetAlphaOut, not matured conviction. Estimated deregistration payout compared with the current alpha price. +20% means the estimate is 20% above market; −20% means 20% below. Applies only if the subnet is deregistered. Ordinary sales use market price and incur price impact.
Price returns use rolling periods in the selected currency. Missing figures remain unavailable. Snapshot: Thu, 22 Oct 2026 21:15:36 GMT. Figures use the existing market feed; opening this panel makes no additional market-data requests.
Owner-submitted on-chain metadata
What this subnet does
Incentivizing the improvement of the algorithms behind a pretraining run
Owner wallet Subnet owner coldkey
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SN125 · PUBLISHED COVERAGE
Recent news & history
Updates across our daily reports, newest first. Dates are report dates. A subnet number can be reused by a different project; each update keeps its recorded name. Registration, deregistration and ownership stories appear when covered in our reports.
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On-chain research
Trading signals · Refinery
Negative alignment
10m +0.35% · 1h -0.29% · 1d -7.84%TAO leaving pool
-0.39% TAO reserve over 1hAllocation decreasing
-0.0003 percentage points over 1hNormal activity
1× previous hourLower relative risk
62.82% liquidity coverage · 0.29% 1h volatilityScores compare current on-chain conditions, not future performance. Thin liquidity, missing history, and sudden chain events can make any signal unreliable.