Methodology

• Subnets are screened by size, stability, flow and age.
• Holdings are weighted by pool depth within concentration limits.
• The basket holds about 10 subnets.
• A 5% reserve is staked on root.
• Unallocated TAO is staked to root until deployed, shown as Root (awaiting deployment). Buys are funded by unstaking from it when they execute.
• NAV per SWELL divides NAV by a fixed paper supply from the genesis tranches (paper, not issued). Genesis multipliers: every genesis tranche, founder 1.50x down to public 1.05x, issues bonus SWELL above the 10,000 per TAO reference, so backing starts below the reference rate. The liquidity allocation is issued at 1.00x.
• Stake is delegated to tao.bot, with disclosed fallbacks: Kraken, then the eligible validator with the highest estimated delegator yield after take.

This is a paper record. Harbor is simulated: trades are simulated against live pool state read from a local Subtensor node, including slippage and fees. Staking yield is modelled and reported separately from price-only NAV.