Pi Network
PI Rank #80Price chart
What is Pi Network?
Origins and launch
Nicolas Kokkalis and Chengdiao Fan founded Pi Network. Its mobile application launched on March 14, 2019. An enclosed Mainnet period began in December 2021. Open Network followed on February 20, 2025, enabling external blockchain connectivity. PI is intended for transfers, payments and applications in the Pi ecosystem.
Consensus and participation
Pi uses an adaptation of the Stellar Consensus Protocol and Federated Byzantine Agreement. Nodes exchange messages to agree on transactions instead of competing through proof-of-work hashing. Users form Security Circles that contribute to a trust graph. Mobile mining is a reward-distribution process rather than computational block production on a phone. Identity verification and Mainnet migration are required to move eligible mobile balances onto the blockchain.
Supply allocation
The published Mainnet model sets a maximum supply of 100 billion PI. It allocates 65 billion to past and future participant rewards. Another ten billion is reserved for ecosystem organization and five billion for liquidity. The core team's allocation is 20 billion, released proportionally to community issuance. The maximum allocation differs from the amount migrated and available in circulation.
Reward mechanics
The base reward rate adjusts to the network's issuance budget. Individual rewards can include contributions from Security Circles, node operation and application use. Token lockups can also affect the reward calculation. These distribution rules operate alongside the separate consensus process maintained by blockchain nodes.
Where to trade PI
16 exchanges · top 10
Live spot quotes from connected exchanges
PI funding rates
Live perpetual funding on every connected exchange. Positive = longs pay shorts.
Contracts & chains
Exact contract or mint per network — the identity layer used for DEX routing.
On-chain routes
Networks with a connected DEX routing adapter.