Mined Pi is part of the network’s circulating supply of Pi tokens. The protocol also has a lock-up mechanism in place to control volatility.
Insight into the Pi Token Model and Mining
Recently, there have been misconceptions about the PI native token among pioneers in the Decentralized Finance (DeFi) space. One misinterpretation is the role of mined Pi in the protocol’s tokenomics.
Many Pi enthusiasts are faced with the problem of misunderstanding the tokenomics of the widely adopted crypto asset. In this light, we will briefly explain the Pi tokenomics, revealing essential information about its circulating supply.
Given the network’s size of over 30 million users, the total mainnet supply of Pi coin is 100 billion. Of which, 80% is issued to the community, and the remaining 20% is for the Pi Core team. Therefore, the community will receive 80 billion Pi tokens, while the team will get 20 billion tokens.
The community’s PI allocation is further divided as shown in the table below:
From the table, mined Pi is part of the coin’s circulating supply. Further, the Pi Core Team has integrated a lock-up system for Pi mining rewards. Hence, 80% of the circulating supply is locked for three years to sustain the token’s value in the long run.
In summary, Pi’s total circulating supply is 100 billion tokens. Mined Pi is included in the circulating supply. However, there is a lock-up mechanism imposed on the token’s circulation. For more information about Pi tokenomics, visit the Pi mobile application and read the new whitepaper.
What is Pi Network:
Pi Network is a novel cryptocurrency and developer platform that allows mobile users to mine Pi coins without draining the device’s battery. Pi’s blockchain secures not only economic transactions via a mobile meritocracy system but also a full Web 3.0 experience where community developers can build decentralized applications (dApps) for millions of users.
Where to find Pi Network:
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.