Cryptocurrency mining has traditionally been associated with expensive hardware, high energy consumption, and complex technical knowledge. Pi Network disrupts this paradigm by offering a revolutionary approach: mobile mining. Since its launch in 2019, Pi Network has captured global attention, amassing over 60 million users. With its transition to the Open Mainnet in February 2025, curiosity about its potential has surged.
Below, we explore Pi Network’s origins, mechanics, tokenomics, and how to trade Pi coins—alongside its unique advantages and challenges.
What Is Pi Network?
Pi Network is a decentralized cryptocurrency project that enables users to mine tokens (Pi) directly from their smartphones. Unlike traditional mining (e.g., Bitcoin’s Proof-of-Work), Pi uses a simulated mining process based on user engagement:
- No specialized hardware required—just a smartphone.
- Low energy consumption due to its consensus model (Stellar Consensus Protocol).
- Gamified elements like referral bonuses and Security Circles to incentivize growth.
👉 Discover how Pi Network compares to other mobile-mined cryptocurrencies
Key Milestones and Development
Founders and Launch
Pi Network was co-founded in 2019 by Dr. Nicolas Kokkalis and Dr. Chengdiao Fan, Stanford graduates who aimed to democratize crypto mining. The project’s name pays homage to Pi Day (March 14, or 3/14).
Phases of Pi Network
- Bootstrap Phase (2019): User acquisition and network security testing.
- Testnet (2020–2021): Blockchain implementation trials.
- Closed Mainnet (2021–2025): Balance visibility with restricted transactions.
- Open Mainnet (2025): Full blockchain access and tentative exchange listings.
How Pi Network Works
User Roles
- Pioneer: Mines Pi via daily app engagement.
- Contributor: Builds Security Circles (trust networks).
- Ambassador: Expands the network via referrals.
- Node Operator: Runs validation software.
Consensus Mechanism
Pi Network combines:
- Stellar Consensus Protocol (SCP): Energy-efficient, trust-based validation.
- Federated Byzantine Agreement (FBA): Byzantine fault tolerance for security.
Rewards depend on activity level, referrals, and node contributions.
Tokenomics of Pi Network
Supply and Distribution
- Max Supply: 100 billion Pi tokens.
- 65% to Community Mining
- 20% to Core Team
- 10% to Foundation Reserve
- 5% to Liquidity Provision
Emission Rules
Tokens are pre-minted but distributed gradually as users migrate to Mainnet.
How to Sell Pi Coins
Pi is tradable on exchanges like OKX, MEXC, and Gate.io. Follow these steps:
- Complete KYC verification in the Pi app.
- Migrate Pi coins to Mainnet.
- Transfer Pi to a supported exchange wallet.
- Trade Pi for USDT or other pairs.
👉 Learn more about trading Pi Network tokens
FAQs
Q: Is Pi Network legit?
A: While its model is innovative, regulatory clarity varies by region. Research local compliance before investing.
Q: How much is Pi coin worth?
A: Prices fluctuate post-Mainnet launch. Check real-time data on exchanges.
Q: Can I mine Pi without referrals?
A: Yes, but referrals significantly boost mining rates.
Q: What’s the future of Pi Network?
A: Adoption hinges on exchange support, utility development, and regulatory acceptance.
Final Thoughts
Pi Network lowers barriers to crypto entry but faces scrutiny over sustainability and decentralization. Its success depends on delivering real-world utility post-Mainnet.
Whether you’re a skeptic or supporter, Pi Network’s journey is one to watch.