Pi Network Overview

Pi Network is a mobile-first cryptocurrency network that allows users to mine with low battery and low data consumption using smartphones. It relies on Security Circle and SCP consensus mechanisms to ensure decentralization and security of the network, aiming to popularize blockchain technology among ordinary users worldwide. The project development is divided into four phases: design and deployment, testnet mining, cross-application integration, and mainnet launch. On February 20, 2025, it officially entered the open mainnet phase, transforming Pi coins from test tokens into real-value, transferable digital assets, bringing new opportunities for community users in real-world applications and asset circulation.
In early 2026, Pi Network underwent a major update, unfreezing nearly 2.5 million user accounts previously frozen due to compliance and security checks. Qualified users’ balances were automatically migrated onto the blockchain, and 700,000 users who did not meet the original criteria were allowed to submit KYC applications. The total number of mainnet migrated users has exceeded 16 million. The network also added palmprint recognition technology for KYC verification, account recovery, and dual security validation. Rewards for KYC verifiers are also scheduled to be officially distributed by the end of March 2026.
Regarding token economics, the total supply of Pi coins is capped at 10 billion. Of these, 65% are allocated for community mining rewards, with the remaining distributed to the foundation reserves, liquidity pools, and the core team. The issuance follows a decreasing model, with mining rewards gradually reducing over time. Mainnet migration is not a simple airdrop but involves comprehensive verification of mining data from the past six years, sequentially completing the migration of basic mining, Security Circle, staking, node rewards, and referral rewards. Final balances are calculated based on actual mining activity, focusing on accuracy, fairness, and long-term scalability, aiming to build a complete decentralized ecosystem. $PI