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Overview
Registration Activity
Neuron registration trends
This Interval
0
— burn · — PoW
Target / Interval
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Neuron registration trends
HODL (Subnet 118) is a financial infrastructure subnet for Bittensor that facilitates long-term conviction in subnet alpha tokens through an ETF model (V1) and an escrow-based orderbook exchange (V2). Miners earn emissions either by staking TAO into TrustedStake indices or by providing liquidity as Incentivized Market Makers (IMMs) on the HODL Exchange, which offers ~85% cheaper trading compared to on-chain liquidity pools. The subnet is transitioning from V1 to V2 over approximately four weeks, with emissions being split between both mechanisms during the transition period.
The subnet operates with validators that score miners and set weights, and miners that earn emissions through two primary mechanisms. Under V1, miners delegate TAO to TrustedStake indices without running any code. Under V2, miners fill orders on the HODL Exchange orderbook using escrow wallets.
The scoring system maintains moving averages of miner scores and updates weights at epoch intervals. The subnet includes a dashboard for monitoring scores and a CLI tool for validators to check live scoring. The transition from V1 to V2 is gradual over ~4 weeks, with emissions allocation shifting: Week 1 (25% V2/75% V1), Week 2 (50%/50%), Week 3 (75%/25%), Week 4 (100% V2/0% V1).
V1 Scoring: score = S × (1 + 0.25 × ln(1 + D/30)) where S is staked TAO amount and D is stake duration in days. Emissions are equally divided among five supported TrustedStake indexes. V2 Scoring: Currently based solely on FillVolume (total TAO equivalent of fills executed per epoch).
Emissions_i = (FillVolume_i / ΣFillVolume_j) × Daily_IMM_Emissions. Future scoring will expand to include SpreadQuality, TwoSidedMultiplier, and ConsistencyMultiplier in a multiplicative formula. IMM fees are ~15% of the slippage users would pay on-chain, with all TAO fees used for SN118 alpha buybacks.
The sections above were auto-generated from the GitHub repository and may not reflect the latest changes. View repository
This information was auto-extracted from the GitHub repository and may be incomplete or out of date. Always refer to the subnet's GitHub repository for the latest instructions.
Open-Source Claude Cowork
The Ditto Agent OS and Harness enable SOTA memory, healing, and speed for 1/100th of the frontier cost.
Holder & total-staked metrics as of 1h ago (hourly snapshot)
No specific hardware is required for mining under V1 or V2. V1 is zero-code requiring only hotkey registration and TAO delegation. V2 requires filling orders on the HODL Exchange through a web interface.
Validators need to run the scoring and weight-setting logic. Advanced miners can optionally run validator code to check live scores.
Register a hotkey on Subnet 118 using standard Bittensor CLI
btcli subnet register --wallet.name <your_coldkey> --wallet.hotkey <your_hotkey> --netuid 118
For V1: Use TrustedStake app (https://app.trustedstake.ai/strat) to delegate to one of five supported indexes (TSBCSI, Top 10, Full Stack, Fintech, Bittensor Universe). For V2: Link ss58 address and provide liquidity on HODL Exchange (https://exfe-orderbook.vercel.app/)
V1: Delegate TAO to TrustedStake index using the same coldkey; V2: Link miner ss58 wallet address to hotkey
Install system dependencies and pm2 process manager
sudo apt update && sudo apt install npm -y && sudo npm install pm2 -g
Clone the ETF subnet repository
git clone https://github.com/mobiusfund/etf && cd etf
Create and activate Python virtual environment(optional)
python -m venv .venv && . .venv/bin/activate
Install the subnet package and dependencies
python -m pip install -e .
Quick start validator to check live scores(optional)
ETF/bin/validator
Start validator with pm2 for persistent background operation
pm2 start neurons/validator.py --name etf-validator -- --wallet.name <coldkey> --wallet.hotkey <hotkey> --netuid 118
