PI
by BSC News
January 19, 2023
Mined Pi is part of the network’s circulating supply of Pi tokens. The protocol also has a lock-up mechanism in place to control volatility.
Recently, there have been misconceptions about the PI native token among pioneers in the Decentralized Finance (DeFi) space. One misinterpretation is the role of mined Pi in the protocol’s tokenomics.
Many Pi enthusiasts are faced with the problem of misunderstanding the tokenomics of the widely adopted crypto asset. In this light, we will briefly explain the Pi tokenomics, revealing essential information about its circulating supply.
Given the network’s size of over 30 million users, the total mainnet supply of Pi coin is 100 billion. Of which, 80% is issued to the community, and the remaining 20% is for the Pi Core team. Therefore, the community will receive 80 billion Pi tokens, while the team will get 20 billion tokens.
The community’s PI allocation is further divided as shown in the table below:
From the table, mined Pi is part of the coin’s circulating supply. Further, the Pi Core Team has integrated a lock-up system for Pi mining rewards. Hence, 80% of the circulating supply is locked for three years to sustain the token’s value in the long run.
In summary, Pi's total circulating supply is 100 billion tokens. Mined Pi is included in the circulating supply. However, there is a lock-up mechanism imposed on the token’s circulation. For more information about Pi tokenomics, visit the Pi mobile application and read the new whitepaper.
Pi Network is a novel cryptocurrency and developer platform that allows mobile users to mine Pi coins without draining the device’s battery. Pi’s blockchain secures not only economic transactions via a mobile meritocracy system but also a full Web 3.0 experience where community developers can build decentralized applications (dApps) for millions of users.
Related News
Latest News
May 7, 2024
Donald Trump Presidency May Propel Bitcoin to New Heights - Standard Chartered
May 7, 2024
Former HKMA Chief Executive’s Firm To Launch Hong Kong Dollar Stablecoin with Chainlink Integration
May 7, 2024
Binance Targeted by Unknown Nigerian Officials for Cryptocurrency Settlement, CEO Claims
May 6, 2024
Could Chinese Mainland Investors Buy Into Spot Bitcoin ETFs Soon?
May 6, 2024
SEC Set to Sue Robinhood Over Crypto Operations: What to Know
May 4, 2024
Weekly Article Recap: 4/29-5/03
May 3, 2024
Nigeria to Ban P2P Crypto Trading: Report
May 3, 2024
Fidelity Reveals Growing Interest in Cryptocurrencies Among Pension Funds
More News