@say_gm_ SN28 reports $104,372 of alpha burned. I'd give more attention to the 20.3% beside it. That's how much of the cycle's miner emissions the burn covered, up from 12.9% previously. Coverage improved even as the dollar value of miner emissions grew. A bigger burn gets attention. Covering a larger share of issuance gives holders a more useful comparison. The burned alpha includes customer payments, so $104,372 isn't the same as cash spent buying tokens. We followed the cycle ledger and the burn transaction. Worth understanding if you're researching value capture in $TAO Bittensor: https://t.co/z4WUWZsdfx