What Is Pi Network? (OKX Referral Code: SUPER20OFF)

Pi Network is catching attention as an accessible mobile-friendly crypto project, but if you're looking for a proven platform to trade PI tokens with lower fees and deeper liquidity, understanding where to buy matters just as much as understanding what you're buying.

Pi Network is a social cryptocurrency, developer platform, and ecosystem designed for widespread accessibility and real-world utility. It enables users to mine and transact Pi using a mobile-friendly interface while supporting applications built within its blockchain ecosystem.

Supply Model and Mining Mechanism

The Maximum Supply of Pi is 100 billion tokens. This supply is allocated as follows: 65 billion tokens (65%) for all community mining rewards; 10 billion (10%) for foundation reserves; 5 billion (5%) for liquidity purposes; and 20 billion (20%) for the Core Team. Each allocation tracks the community Migrated Mining Rewards issuance pace, so the proportions of each allocation in the total supply remain consistent at any given time.

The Effective Total Supply of Pi—the total Pi supply at the current time—allocates Pi proportionally the same as the Maximum Supply. Since every allocation tracks the Migrated Mining Rewards of the community, the Effective Total Supply can be calculated by dividing the current Migrated Mining Rewards of Pi on the Mainnet blockchain by 65%. The other allocations within the Effective Total Supply can then be calculated based on the same proportions as the Maximum Supply. For instance, at most 10% of the Effective Total Supply is available in the foundation reserve, 5% for liquidity purposes, and 20% for the Core Team.

Circulating Supply includes all Migrated Mining Rewards and all tokens that entered circulation from other buckets of the allocations, which at its maximum could be summed up to equal the Effective Total Supply.

Pi's mining rewards are distributed based on an issuance formula that follows a declining exponential model. Users can increase the amount of mining rewards they receive based on their individual contributions to the network, like Security Circles, using utility-based Pi apps, running Nodes, and more. For each month, the amount of Pi to be distributed as mobile balance is capped and determined by the model, regardless of how many people or how many types of mining rewards there are during the month. The capping is achieved by the design of a system-wide base mining rate, and each type of mining reward to each individual is just a multiplier of this base mining rate. As the monthly supplies always diminish, the base mining rate generally decreases over time.

Fewer Pi may also be issued because the real Pi issuance on the blockchain depends on Pioneers passing KYC and completing all steps required for migration to the Mainnet. Despite all efforts to facilitate and remind Pioneers to complete those required steps, there are always dropoffs along the way, resulting in less than all outstanding mobile balances being issued on the blockchain. Because of this mechanism, the community issued amount (Migrated Mining Rewards) on the blockchain will likely be closer to a line lower than the 65 billion. This is the reason for the variable Effective Total Supply which incorporates this effect.

Ecosystem and Adoption

Pi Network has built an integrated ecosystem that facilitates real-world transactions and decentralized applications. Pi can be used as a medium of exchange for goods and services, including online commerce and local brick-and-mortar businesses.

Users can engage with Core Team and community-built apps in the Pi ecosystem through the Pi Browser, where integrated features like the Pi Wallet provide a seamless experience. Events like PiFest 2025 showcased Pi's growing adoption, with over 27,000 active sellers and 28,000 test merchants across 160 countries.

Who Are the Founders of Pi Network?

Pi Network was founded by Dr. Nicolas Kokkalis and Dr. Chengdiao Fan, both of whom have PhDs from Stanford University and a passion for improving human lives through technology.

Dr. Nicolas Kokkalis is a Stanford PhD in EE and postdoc in CS with research on distributed systems and human-computer interaction. His work focuses on combining distributed systems and human computer interaction to bring cryptocurrency to everyday people. As a strong and long-term believer in the technical, financial and social potential of cryptocurrencies, he is determined to move them beyond their current limitations and is committed to bringing the power of blockchain to more people.

Dr. Chengdiao Fan holds a Stanford PhD in Anthropological Sciences, harnessing social computing to unlock human potential on a global scale. Chengdiao is building Pi Network to mobilize individuals all over the world to participate and be rewarded for their contributions, and establish an inclusive ecosystem for global citizens to unleash and capture their own agency, and in turn create utilities and productions for society and the world.

Compliance and Identity Verification

Pi Network follows a one-account-per-person policy through its Know Your Customer (KYC) solution. This system combines machine automation and human verification to authenticate user identities while preserving privacy.

The KYC process emphasizes real individuals, combats fraudulent activities and enables fair participation in the mining process of the network. Pi's identity verification approach balances scalability, security, and accessibility, allowing millions of users worldwide to validate their accounts while maintaining regulatory compliance.

Where Can You Buy Pi Network?

PI tokens can be traded on centralized crypto exchanges. For traders seeking lower trading fees and better liquidity conditions, choosing the right exchange matters significantly. Leading platforms offer competitive fee structures that can save you money on every transaction.

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The most active trading pairs include PI/USDT with substantial 24-hour trading volumes across multiple exchanges. When selecting where to trade, consider factors like trading volume, fee structure, security features, and available trading pairs to optimize your trading experience.

Key Trading Metrics

Daily Trading Volume: Pi Network (PI) has maintained active trading volume in the tens of millions, indicating steady market interest and liquidity for traders.

Price Performance: Like many cryptocurrencies, PI has experienced significant price volatility since launch. The token has seen both peaks and valleys, with its current price reflecting broader market conditions and project developments.

Market Capitalization: Pi Network ranks among tracked cryptocurrencies by market cap, with billions of PI tokens currently in circulation on the market. The circulating supply represents migrated tokens that have completed the KYC process and mainnet migration.

Fully Diluted Valuation: The fully diluted valuation (FDV) assumes the maximum number of 100 billion PI tokens in circulation. Depending on how the emission schedule unfolds, it might take multiple years before FDV is realized as more tokens migrate to mainnet.

Conclusion

Pi Network represents an interesting experiment in accessible cryptocurrency mining and blockchain adoption. With its mobile-first approach, growing ecosystem, and focus on real-world utility, the project aims to bring crypto to everyday users. For those interested in trading PI tokens, choosing an exchange with competitive fees and strong liquidity becomes essential.

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Whether you're mining Pi or trading it, understanding the tokenomics, supply model, and where to access the best trading conditions helps you make informed decisions in this evolving ecosystem.