Pi Network is attracting attention with its unique approach to cryptocurrency mining and token management, setting it apart from traditional blockchain projects. Unlike typical mining that demands heavy computational power, Pi allows users to mine tokens on their smartphones by solving captchas once daily. This low-barrier entry method has helped build a large user base, known as “Pioneers.”
A notable feature of Pi’s protocol is its built-in referral system, which acts like an on-chain multi-level marketing (MLM) structure. Users earn a “referral fee” when they invite others to join, incentivizing network growth through social connections.
To move Pi tokens mined on mobile devices to the mainnet, users must complete a Know Your Customer (KYC) process. This means all mainnet wallets are verified identities, adding a layer of regulatory compliance and security to the ecosystem. The KYC step is mandatory for token migration and is part of Pi Network’s strategy to ensure legitimacy and reduce fraud.
Another intriguing mechanism is the “boost” system, where users can increase their mining rewards by locking up their tokens for extended periods. For example, locking tokens for three years can double the mining rate, encouraging long-term holding and network stability.
Pi Network is now ranked among the top 20 cryptocurrencies by market metrics, yet it remains relatively under-discussed in mainstream crypto conversations. The project is preparing for a major milestone: the launch of its open mainnet expected in the latter half of 2025. This launch will enable Pi to be traded on public exchanges and used in real-world applications, supported by a growing ecosystem of decentralized apps and services.
To support liquidity and smooth transactions, Pi Network has also established a liquidity pool with 1 billion Pi coins, aiming to facilitate decentralized finance (DeFi) activities and stabilize the token’s value.
In summary, Pi Network’s novel blend of mobile mining, mandatory KYC for mainnet migration, referral incentives, and token lockup boosts creates an unusual but rapidly growing crypto ecosystem. Its upcoming mainnet launch and expanding developer activity could turn Pi into a significant player in the blockchain space in 2025 and beyond.
