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πŸš€ Overview

MetaHash (Subnet 73) is a decentralized liquidity and incentive layer on the Bittensor network. It is designed to:
  • Give dTAO holders a way to put Ξ± to work across subnets,
  • Allow miners and subnet owners to access Ξ± without destabilizing their own liquidity pools,
  • Enable validators to allocate weights in a transparent, market-driven way.
In short: MetaHash connects Ξ± supply and demand while minimizing slippage, improving capital efficiency, and strengthening subnet economics.

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πŸ”₯ Value Proposition

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πŸ§‘β€πŸŒΎ For dTAO Holders

  • Open participation – you don’t need to be a miner to earn.
  • Convert Ξ± β†’ MetaHash exposure seamlessly.
  • Deploy Ξ± across subnets without causing slippage in your origin pools.
  • Receive transparent accounting of how your Ξ± is allocated.

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πŸ§β€β™€οΈ For Subnet 73

  • Acts as a liquidity hub where Ξ± demand meets Ξ± supply.
  • Validator weights are allocated by a fair, deterministic auction, not subjective heuristics.
  • Budget signaling and burns ensure unused Ξ± is never misallocated.
  • Strengthens SN73’s role as a backbone for cross-subnet liquidity.

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πŸ” How It Works (Epoch Lifecycle)

MetaHash validators run a three-epoch pipeline:

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Epoch e: Auction & Clearing

  1. AuctionStart β€” validator broadcasts start of auction.
  2. Bids β€” miners submit (subnet_id, Ξ±, discount_bps).
  3. Clearing β€” bids are ranked by TAO value with slippage and optional reputation caps; partial fills allowed.
  4. Early Wins β€” winners are notified with a Win invoice, including the payment window [as, de] in e+1.
  5. Stage Commitment β€” snapshot of winners + budget signals (bt_mu, bl_mu) saved locally.

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Epoch e+1: Commitments

  • Validator publishes e’s snapshot:
    • CID-only on-chain (v4 commitments)
    • Full JSON payload to IPFS
  • Strict publisher: only eβˆ’1 is published, no catch-up.

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Epoch e+2: Settlement

  • Merge payment windows, scan on-chain Ξ± transfers.
  • Apply STRICT_PER_SUBNET rules (if enabled).
  • Compute miner scores, burn underfill to UID 0, and set weights.
  • If TESTING=true, preview only (no on-chain weights).

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🧠 Key Features

  • Auction β†’ Clearing β†’ Commitments β†’ Settlement pipeline.
  • Slippage-aware valuation of Ξ± bids (K_SLIP, SLIP_TOLERANCE).
  • Reputation caps per coldkey (baseline & max fractions).
  • Budget signaling (bt_mu, bl_mu) to enforce deterministic burns.
  • Strict publisher: CID on-chain, JSON in IPFS.
  • Safety: miners only pay to whitelisted treasuries (metahash/treasuries.py).