توكنوميكس Pi Network (PI)

Overview

Pi Network is a decentralized cryptocurrency platform with a focus on accessibility and energy efficiency, allowing users to mine Pi coins via mobile devices. The project aims to build a peer-to-peer ecosystem powered by the Pi cryptocurrency, with a total supply capped at 100 billion Pi.

Issuance Mechanism

• Mining-Based Issuance:
  Pi coins are primarily issued through a mobile mining process. Users earn Pi by contributing to network growth and security, such as app usage and node operation. The mining rewards are designed to decrease over time, incentivizing early adoption and active participation.
• Phased Development:
  The issuance mechanism has evolved through three main phases: Beta, Testnet, and Mainnet. The Mainnet phase included an "Enclosed Network" period for KYC verification and ecosystem development before the Open Network launch.

Allocation Mechanism

• Mining Rewards: The largest share is allocated to users who actively participate in the network.
• Ecosystem & Community: Significant portions are reserved for ecosystem expansion and rewarding contributors.

Usage and Incentive Mechanism

• Utility:
  Pi is intended for use in payments, peer-to-peer transactions, and as a medium of exchange within the Pi ecosystem. With the Open Network phase, Pi can now be used for transactions beyond its native environment, including integration with external blockchains.
• Incentives:
  Mining rewards are based on user contributions, such as running nodes, referring new users, and engaging with dApps. This structure encourages both network security and ecosystem growth.

Locking Mechanism

• KYC and Enclosed Mainnet:
  During the Enclosed Mainnet phase, users' mined Pi was locked until successful KYC verification. This ensured that only verified users could access and transfer their tokens.
• Staking and Locking:
  Users may voluntarily lock their Pi for staking or to participate in certain ecosystem activities, though details on staking yields and penalties are not fully disclosed in the available documentation.

Unlocking Time

• Enclosed to Open Network Transition:
  The unlocking of Pi tokens was tied to the transition from the Enclosed Mainnet to the Open Network, which occurred in February 2025. After this milestone, users who completed KYC could access and transfer their tokens freely.
• Ongoing Unlocks:
  As of July 2025, the circulating supply of Pi continues to increase gradually, reflecting ongoing unlocks and mining rewards. For example, the circulating supply grew from approximately 7.627 billion Pi on July 2, 2025, to 7.646 billion Pi by July 8, 2025, indicating a steady but controlled release of tokens into the market.

Circulating Supply Trend (July 2025)

Summary Table

Nuances and Implications

• Controlled Supply Growth:
  The gradual increase in circulating supply helps mitigate inflation and supports long-term value stability.
• Community-Driven Incentives:
  The mining and referral-based reward system fosters organic network growth and user engagement.
• Transition to Open Network:
  The unlocking of tokens post-KYC and Open Network launch marks a significant shift, enabling broader utility and integration with external systems.
• Potential Limitations:
  The lack of detailed public disclosures on specific allocation percentages, staking yields, and penalty structures may limit transparency for some stakeholders.

Actionable Insights

• For Users:
  Completing KYC is essential to unlock and utilize mined Pi. Active participation in the ecosystem (mining, running nodes, using dApps) maximizes rewards.
• For Developers:
  The Open Network phase and developer environment present opportunities to build dApps and expand Pi’s utility.
• For Observers:
  Monitor the circulating supply and ecosystem developments to assess the impact of unlocks and new integrations on Pi’s value and adoption.

This analysis is based on the latest available documentation and supply data as of July 2025. For the most current details, refer to official Pi Network communications and technical resources.