Pi Network Adjusts Mining Rate Ahead of Mainnet Launch and Token Shift
TLDR
- Pi Network’s mining rate will decrease as the Mainnet launch approaches.
- Pi Network reaches over 30 million active users, triggering mining rate cuts.
- A reduction in mining rewards aims to ensure scarcity and ecosystem balance.
- Pi Network seeks MICA compliance, with expectations for future exchange listings
The Pi Network is nearing a pivotal moment in its evolution, as the much-anticipated launch of its Open Mainnet approaches. As part of its transition, Pi Network has announced that the mining rate for its cryptocurrency will continue to decrease, possibly reaching zero by the time the Mainnet goes live. This change reflects the network’s growing user base and its efforts to balance token supply with demand.
Mining Rate Reductions and Network Growth
The Pi Network’s mining system has always been structured around a decreasing reward model, designed to make the token more scarce as more users join the network. Currently, the mining rate sits at 0.0027551 Pi per hour, a significant drop from earlier rates that were once as high as 0.0047 Pi per hour. These reductions were made gradually, reflecting the increasing number of active users, which now exceeds 30 million.
According to Pi Network’s roadmap, mining rewards will continue to decline until they potentially reach zero at the launch of the Open Mainnet. As the network approaches this milestone, the overall scarcity of the token will increase, which could influence its future value in the market.
Open Mainnet and Its Effect on Pi’s Token Economy
The launch of the Open Mainnet will mark the end of Pi Network’s mobile mining phase. Experts speculate that the reduction in mining rewards will coincide with an increase in the token’s utility and market presence. This transition is expected to stabilize the token’s inflation rate and create a more balanced ecosystem as Pi moves toward a fully decentralized blockchain.
The Open Mainnet’s activation is expected to trigger significant volatility in the cryptocurrency market. Currently, Pi is being traded unofficially at around twenty cents per token, but once the Mainnet opens up, experts predict real price discovery will begin, potentially causing large fluctuations.
However, many analysts are optimistic about Pi’s long-term growth, with projections pointing to a slow but steady increase in the token’s value over the next few years as its utility expands.
Pi Network’s Expansion into the European Market
Pi Network is also making strides to expand its reach, with plans to comply with the European MICA regulations. This would allow Pi to become more accessible to European users, increasing its market potential.
Additionally, Pi is said to be pursuing an ISO certification, similar to other well-known tokens like XRP and Stellar. Although this information has yet to be independently verified, obtaining ISO certification would be a major milestone for Pi, potentially increasing investor confidence and furthering its global adoption.
As the Pi Network continues to grow and prepare for the Mainnet launch, it is evident that the project’s focus is shifting from simple mobile mining to a robust blockchain ecosystem. With increased regulatory efforts and ongoing discussions surrounding future token listings, Pi’s prospects in the global market seem poised for expansion.
Whale Activity and Market Movements
A notable indicator of Pi’s potential growth is the activity of large investors, or “whales,” who have been accumulating large quantities of Pi tokens. One whale recently purchased 646,667 tokens in a single transaction, raising their total holdings to 377 million tokens.
This move, along with the whale’s past profits, suggests that investors are positioning themselves for positive developments in the near future. Some speculate that the whale is anticipating key news or events related to Pi’s tokenomics, which could be linked to a potential token burn, new ecosystem updates, or upcoming exchange listings.
Pi Network’s increasing adoption, combined with its ongoing development, presents a promising outlook as the mining rate drops and the Mainnet nears. The project is moving into a new phase where real-world use cases and token scarcity will drive its market value.
The post Pi Network Adjusts Mining Rate Ahead of Mainnet Launch and Token Shift appeared first on CoinCentral.
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