Buybacks · subnet 28
20.3%of this cycle's miner emissions offset$104,372 burned to offset $514,686 emitted to miners16 Sep — 15 Oct 2026 · cycle 02
this cyclegoal 100.0%
The road to 100%
We offset miner emissions with buybacks and burns. We swap against the SN28 pool at the going price. Some of the alpha we burn also comes from customers paying in alpha. We measure burns against what the subnet paid its miners over the same days, and publish every burn with its transaction. We aim to raise the share we offset cycle by cycle towards 100%.
What we have burned so far
| Cycle | Window | Miner emissions | Burned | Coverage | Proof |
|---|---|---|---|---|---|
| 01 | 16 Aug — 15 Sep 2026 | $334,903 | $43,088 | 12.9% | block 9,081,319 · extrinsic 0022 ↗ |
| 02 | 16 Sep — 15 Oct 2026 | $514,686 | $104,372 | 20.3% | block 9,296,823 · extrinsic 0011 ↗ |
A published cycle stands as published. The open cycle shows emissions accruing so far.
How buybacks work
Every burn leaves treasury 5FqbWhtCvoSD3X3iNxyWXogrKGmeVLnjZXoNWPx16yErYQd9 ↗, where the alpha transfers and burns are on chain to read.
We buy on the open market
We swap against the SN28 pool at the going price. Some of the alpha we burn also comes from customers paying in alpha.
We burn monthly
Once a month. We use burnAlpha, which destroys it.
How we work out coverage
coverage = burned ÷ emitted to miners over the same cycleWe add up what the chain paid miners for work they served, epoch by epoch, from its own payout records. In dollars each epoch is valued at its own price, because emission accrues continuously and the price moves with it. Coverage counts what we burned.