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What is the issuance and circulation of PI coins?
Pi Network aims to distribute a total of 100 billion PI coins through its mobile application, with the initial distribution based on users' contributions to network security and consensus.
Oct 16, 2024 at 04:18 pm
What is the Issuance and Circulation of Pi Coins?
1. Issuance
- Pi Network, the creator of Pi Coin, is aiming for a fixed total supply of 100 billion PI.
- Initially, Pi Coins were distributed through the Pi Network mobile application, where users could earn coins by contributing to the network's security and consensus algorithm.
- The Pi Network whitepaper states that the issuance rate of Pi Coins decreases over time, with the final supply being reached in several decades.
2. Distribution
- Pi Coins are not currently available for purchase or sale on any exchanges.
- Users can only acquire Pi Coins through the Pi Network mobile application, which is free to download and use.
- The distribution of Pi Coins is designed to encourage network participation and ultimately create a decentralized and community-owned currency.
3. Circulation
- Pi Coins have no official market value or liquidity as they are not currently traded on any exchanges.
- The circulation of Pi Coins is limited to the Pi Network ecosystem, where users can transfer coins between each other within the app.
- Pi Network plans to introduce a decentralized exchange in the future, which would allow users to trade Pi Coins for other cryptocurrencies and fiat currencies.
4. Future Plans
- Pi Network is actively working towards transitioning Pi Coin to a mainnet blockchain, which will enhance its security and scalability.
- The mainnet launch is expected to unlock new possibilities for Pi Coin usage, including decentralized applications, payment services, and smart contracts.
- The Pi Network team emphasizes that Pi Coin's future value and adoption will depend on its widespread usage and the adoption of the Pi Network ecosystem.
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