MetaHash | Subnet 73

Overview

🚀 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 α to work across subnets,
• Allow miners and subnet owners to access α without destabilizing their own liquidity pools,
• Enable validators to allocate weights in a transparent, market-driven way.

In short: MetaHash connects α supply and demand while minimizing slippage, improving capital efficiency, and strengthening subnet economics.

🔥 Value Proposition

🧑‍🌾 For dTAO Holders

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

🧍‍♀️ For Subnet 73

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

🔁 How It Works (Epoch Lifecycle)

MetaHash validators run a three-epoch pipeline:

Epoch e: Auction & Clearing

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

Epoch e+1: Commitments

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

Epoch e+2: Settlement

• Merge payment windows, scan on-chain α 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).

🧠 Key Features

• Auction → Clearing → Commitments → Settlement pipeline.
• Slippage-aware valuation of α 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).