## PI Network: The Complete Guide from Mobile Mining to Mainnet Trading

### What makes this coin attract 45 million users?

Since its inception in 2019, PI Network has accumulated over 45 million active users. This is not an illusion—the behind-the-scenes is a complete system built by a team of Stanford PhDs. The core selling point is simple: you can mine with your phone—no electricity, no cost.

Traditional mining requires specialized mining rigs and high electricity bills, keeping ordinary people out. PI Network changes the game with the **Stellar Consensus Protocol (SCP)**. This mechanism is based on federated Byzantine consensus, ensuring security while consuming so little energy that it can run in the background on a mobile device.

**Latest Market Data** (as of December 2024):
- Coin Price: $0.21
- 24h Trading Volume: $1.01 million
- Market Cap: $1.72 billion
- Circulating Supply: 8.37 billion PI
- Max Supply: 10 billion PI

### How to mine PI? Three steps to get started

**Step 1: Download the App and Register an Account**
Available on iOS and Android, just use your phone number or Facebook account.

**Step 2: Tap the lightning button daily**
No complicated operations needed. Open the app and press the lightning icon; after 24 hours, you can activate again. This is basic mining—your system automatically distributes PI coins to you.

**Step 3: Invite others to join and speed up earning**
- Join the "Security Circle" (add trusted users) → Mining speed +20%
- Invite new users → Earn a share of their mining rewards
- Run a PI Node (operate a node on your computer) → Share additional rewards

This is PI Network’s unique four-role system:
- **Pioneers**: Basic mining users
- **Contributors**: Users who build trust circles
- **Ambassadors**: Users who refer new members
- **Node Operators**: Users running node software

### How big is PI’s total supply? Tokenomics breakdown

**Total Supply: 10 billion PI**

How is this 10 billion allocated? 80% to the community, 20% to the core team.

**Community’s 8 billion PI:**
1. **Mining Rewards (6.5 billion)** ← The main portion
- About 3 billion mined before mainnet, but KYC verification will filter out 1-2 billion
- The remaining will be released gradually through the new mainnet mining mechanism, with decreasing annual limits

2. **Community Operations & Ecosystem (1 billion)**
- Funding developers, community activities, ecosystem projects

3. **Liquidity Reserve (500 million)**
- Ensures trading liquidity, providing entry and exit points for new users

**Core Team’s 2 billion PI:**
- Unlocks gradually with community mining progress, possibly with additional lock-up conditions

The core logic of this design is: rewards decrease over time, ultimately increasing scarcity and pushing up the coin’s price.

### Will PI mining go on forever?

This is a common concern. The answer is: **No, mining will not be indefinite**.

Based on the decreasing reward mechanism, the total mining quota each year declines. When all 10 billion PI are released, traditional mining will end. But this doesn’t mean the network stops working—other incentives may be introduced, such as transaction fee sharing, staking rewards, etc.

When exactly will mining fully end? It depends on:
- Actual mining speed after mainnet launch
- Whether the annual cap is adjusted
- Decisions by the community and foundation

Currently, the mainnet is expected to launch by the end of 2024, and the "mining epoch" timer will start then.

### Mainnet launch, KYC, and trading—these three things you need to prepare

**Key dates:**
- KYC deadline: November 30, 2024
- Mainnet opening: Expected by the end of 2024

**Why do KYC?**
When PI moves to the mainnet, only verified users can transfer their balances. In other words: no KYC = mined PI becomes invalid. The system offers a grace period (extensions possible after the deadline), but it’s best not to gamble.

**After mainnet launch, here’s how to sell PI:**

1. **Centralized Exchanges (CEX)**
- Transfer to exchange wallet → Place sell order → Withdraw fiat currency
- High liquidity, suitable for large trades
- Transparent fees, but platform takes a cut

2. **Decentralized Exchanges (DEX)**
- Connect your Web3 wallet → Swap for other tokens
- No middlemen, but requires wallet operation skills
- Liquidity depends on trading pair depth

3. **P2P Trading**
- Trade directly with individuals
- Flexible but highest risk (scams)

### Risks of PI Network you need to see clearly

**1. Repeated delays of the mainnet**
The project entered the "closed mainnet" phase in 2021 and has not yet fully opened. This raises doubts about whether the network can truly operate stably.

**2. Coin price is a mystery**
Currently, PI has no real market price, only transfers within the official ecosystem. Will it surge or crash after mainnet? No one can guarantee. Some "PI IOUs" (futures certificates) are being traded, but these are not officially endorsed products.

**3. Scammers are increasing**
As attention grows, phishing scams and fake exchanges are proliferating. Remember: only trust official channels, and be wary of promises of proxy buying, selling, or early trading.

**4. Regulatory risks**
Different countries have varying attitudes toward cryptocurrencies. Whether PI can enter mainstream exchanges depends on future regulatory developments.

### The three-stage evolution of PI Network

**Stage 1 (2018-2020): Beta Testing**
- Mobile app launched → users "check-in" to mine
- White paper published, establishing technical direction

**Stage 2 (2020-2021): Testnet**
- Global nodes can verify transactions
- Developers can build DApps in testing environment

**Stage 3 (2021-present): Mainnet Launch**
- End of 2021, entered the closed phase (only nodes and KYC users can interact)
- Planned open in late 2024 as a true public blockchain

Once open, PI shifts from "test coins" to "real assets," tradable on exchanges and capable of cross-chain interoperability.

### Can I still "buy the dip"? How to do it?

If you’re interested in PI, here’s a clear action plan:

1. **Complete KYC immediately** (if not done yet)
- No KYC = potential loss of all balances when mainnet launches

2. **Keep checking in daily**
- Mining records before mainnet will be counted, affecting your initial balance
- Do it every day until mainnet opens

3. **Monitor official news**
- Follow PI Network’s official website and social media
- Details on mainnet opening and mechanisms will be announced in advance
- Beware of clone apps and fake exchanges

4. **Prepare your wallet**
- Download a secure crypto wallet
- After mainnet, you’ll need a place to store your PI

### Is PI Network worth spending time on?

Honestly, it depends on your expectations:

**If you want to get rich quick**: Don’t bother; the probability is too low. The mainnet isn’t live yet, and the coin’s value is uncertain.

**If you’re a long-term holder**: PI’s innovations (mobile mining, low energy consumption, community-driven) are real. Investing some time and attention as part of a long-term portfolio is reasonable.

**If you want to experience Web3 ecosystem**: PI is a good entry point—learn about wallets, KYC, trading processes at minimal cost.

Finally: don’t put all your eggs in one basket. PI’s prospects are uncertain, but exploring new projects and participating in ecosystems is worthwhile in itself.

As 2024 approaches, PI Network’s story is about to enter a new chapter. Be prepared—what’s coming will come.