BasketShares

Storage Map v441 → current

Map (validator_hotkey) to total fund shares outstanding for that basket.

Explore chain
Queried by: validatorsstakersanalyticsdevelopers

The Big Picture

Decoupling entitlement from composition is what lets holdings be rebalanced, or converted to TAO when a subnet dissolves, without touching anyone claim.

Why This Matters

Shares are the unit that makes a fund fair. Because deposits mint at the pre-deposit NAV, someone joining late cannot dilute you and you cannot free-ride on their entry.

Example Scenario

A fund holds 1,000 TAO of realizable NAV against 1,000,000 shares, so one share is worth 0.001 TAO. A 100 TAO dividend deposit mints roughly 100,000 new shares at that same price, leaving every existing holder worth exactly what they were.

Common Questions

How do I turn shares into a TAO figure?
Divide fund NAV by BasketShares for share price, or query root_basket_owed for your position.
Do shares move when I change root stake?
Outstanding shares do not. Your entitlement is rebased through the BasketClaimed watermark so accrued yield is neither granted nor destroyed.

Use Cases

  • Compute share price alongside fund NAV
  • Track fund size over time

From Chain Metadata

MAP ( validator_hotkey ) --> total outstanding basket fund shares `P`. A validator's beta basket is a single fund: its holdings are the escrow stake positions `(hotkey, escrow, netuid)` across subnets (the root slot is the fund's TAO/cash position), and its net asset value `N` is the realizable (slippage-aware) TAO value of those holdings. Stakers' entitlements are denominated in *fund shares*, never in any particular subnet's alpha: deposits mint `value_added * P / N` shares, where `value_added` is the realizable NAV the deposit actually added (so existing holders are neither diluted nor taxed with the deposit's buy slippage), and redemption pays the staker's owed share fraction `owed / P` of every holding, sold pro-rata. Direct deposits (`stake_into_basket`) mint the same way, credited via the signed [`BasketClaimed`] watermark. Because entitlement is decoupled from composition, holdings can be rebalanced (validator-directed trading, dissolution conversions) without touching any staker's claim.

Purpose & Usage

Purpose

Denominator of the fund. Deposits mint shares against the realizable NAV they added; a claim redeems the staker owed fraction of every holding.

Common Query Patterns

  • Query by validator hotkey to size the fund
  • Pair with BasketRate to compute a staker entitlement

Notes

  • Deposits mint value_added * P / N shares, so existing holders are neither diluted nor charged the deposit slippage
  • Entitlement is a fraction of the whole fund, never a claim on specific alpha

Query Keys

#NameTypeDescription
1
validator_hotkey
AccountId [u8; 32]validator_hotkey (AccountId, hashed key component) (hex -> SS58)

Stored Value

u64

total (u64)

RAO -> TAO (/ 10^9)

Default Value

0 0x0000000000000000

Absent keys read as this value — querying a key that has never been written returns this default, not an error or empty result.

Relationships

Code Examples

import { createClient, Binary } from "polkadot-api";
import { getWsProvider } from "polkadot-api/ws";
import { sub } from "@polkadot-api/descriptors"; // generated by: npx papi add sub -w wss://entrypoint-finney.opentensor.ai:443

const client = createClient(getWsProvider("wss://entrypoint-finney.opentensor.ai:443"));
const api = client.getTypedApi(sub);

// Query BasketShares storage
const validator_hotkey = "5GrwvaEF5zXb26Fz9rcQpDWS57CtERHpNehXCPcNoHGKutQY";

const result = await api.query.SubtensorModule.BasketShares.getValue(validator_hotkey);
console.log("BasketShares:", result);

Runtime Info

View Source
Pallet
SubtensorModule
Storage Kind
Map
First Version
v441
Current Version
v472
Back to SubtensorModule Storage