3 watch items: Chain buys 24h · Health Score · Discord pulse · synthesised across 9 active pillars, 2 skipped.
What the chain explicitly says about this subnet right now, plus where it sits on the dereg watch list.
Protocol-level subnet status. "active" = healthy and registered. "at-risk" = on the dereg shortlist for the next emission cap recalc. "inactive" = dereg already pending. "immune" = protected slot (no dereg risk this cycle). The chain knows things off-chain heuristics don't, so we trust this signal with a high weight.
Risk
0
Position among active subnets ranked by alpha price ascending — same logic /deregwatch uses to flag subnets close to dereg. Skipped for immune / inactive / root subnets.
SubnetRadar's two main multi-axis scores — already tuned over months of feedback. The audit reuses them as primary pillars instead of re-deriving from scratch.
SubnetRadar Health Score — composite over liquidity, network, emission, growth, and development. Reused here as a structural-audit pillar because it's already a curated multi-axis read of subnet condition. Higher score = healthier (lower audit risk).
Risk
63
SubnetRadar's own composite ranking — dev velocity, revenue, smart-money positioning, momentum, all blended. Surfaced here as a structural quality cross-check: low Power means the broader signal stack says weak, regardless of what the per-flag on-chain check finds.
Risk
0
Joint check on HHI + Nakamoto + holder count. A subnet is only structurally concentrated when all three sub-signals look bad together.
Combined structural-concentration check. Looks at HHI (top-N share), Nakamoto coefficient (smallest 51% coalition), and total holder count — TOGETHER. The chain is structurally concentrated only when all three look bad: 4 whales controlling 51% on a 5,000-holder subnet is healthy distribution; 4 whales on a 50-holder subnet is risk.
Risk
0
How much TAO sits in the AMM pool vs market cap, plus whether validators are actively paying for this subnet through emissions.
USD value of TAO sitting in the AMM pool divided by the subnet's market cap. Healthy AMM-balanced subnets sit at 30-50% (the TAO side of an x*y=k pool equals the alpha side by invariant). <15% means the pool has been drained relative to circulating alpha — paper value, easily moved.
Risk
0
TAO injected into the subnet's pool by validators via emissions over the last 24h — the cleanest 'is the network actively paying for this subnet' signal. <50τ/24h = network is barely paying; 300τ+ = consistent emission flow.
Risk
100
Chain consensus routing + visible price action. Emission cut catches validators downgrading the subnet; price momentum catches market-side concerns the on-chain pillars may not see yet.
Consensus-side emission share dropping. When the per-block cap drops below the recent EMA, validators are routing less weight here. 0.5%pt cut = yellow; 1%pt+ = red. Strong forward-looking signal because emission decides the next epoch's validator payouts.
Risk
0
Combined 24h + 7d alpha/TAO price change. Only negative moves count — a subnet going up doesn't add risk. ~10%pt combined drawdown = yellow; ~20%pt+ = red. Captures market-side concerns the on-chain pillars may not catch.
Risk
16
Whether the team behind the subnet is actively shipping code AND showing up in their Discord. Github-cache drives dev pulse; the team-tagged Discord feed drives the chatter side.
Recent commit activity on the subnet's primary GitHub repo. Skipped when github-cache has no mapping for this subnet — many teams ship from private hosting or multi-org setups we haven't fully attributed.
Team-tagged Discord posts attributed to this subnet over the last 14 days. 10+ posts = healthy chatter; 5 = light; 1-3 = slow; 0 (with mapping) would be silence — we currently skip 0 because we can't yet distinguish unmapped from silent.
Risk
45
Each subnet lands in one of three buckets — Healthy (all pillars clear or 1-2 soft watches), Watch (multiple yellow signals or one mild structural concern), or Critical (multiple yellow signals stacking, or a clearly bad pillar pulling the whole composite up). The verdict is what to act on; the numeric composite (0-100 below) is there for sorting + precision but the bucket is what reads.
Math under the hood: weighted geometric mean across active pillars with a soft floor, so multiplicity of concerns matters more than the severity of any single pillar. Each pillar is a pure function over on-chain or cached data — no LLM in the loop, every rule readable in the source. Composite bands: Healthy < 30 · Watch 30-44 · Critical ≥ 45. Per-pillar bands are stricter (a pillar only badges red individually when its underlying signal is ≥ 0.66) so the per-pillar grid below tells you which axis is which.
The Alpha Score and the SubnetRadar scoring system are provided for informational and educational purposes only. Nothing on this platform constitutes financial advice, investment advice, or a recommendation to buy or sell any asset. Alpha Scores reflect proprietary algorithmic analysis of on-chain and off-chain data — a high score does not guarantee or predict future price appreciation. Cryptocurrency investments involve substantial risk, including the possible loss of principal. Always conduct your own research and consult a qualified financial advisor before making investment decisions. Past performance is not indicative of future results.