What is Pi Network (Pi)?
Pi Network is an ongoing project aiming to become the foundation for “the future of social cryptocurrency in Web3”, with the native Pi coin at its core.
According to the official website, the Pi team describes the network as a global community of tens of millions of users who have been mining Pi to support the ecosystem's growth.
If you’re trying to understand the value of Pi in crypto, think of it as an evolving system. The mining process (and the coin itself) supplies resources that power development within the network, like building decentralized apps (dApps). These dApps are then used and expanded by the same community members, known as Pioneers, who originally mined the coin.
The project places strong emphasis on the “human factor.” Before asking how much Pi crypto is worth, it’s key to know that users must complete KYC verification. This is intended to ensure that all participants are genuine individuals, thereby minimizing botting and automated abuse. Through this, Pi hopes to encourage fairness and generate long-term value.
The Open Mainnet officially launched on February 20, 2025, enabling real Pi coin transfers, external transactions, and integration with exchanges. In just over 100 days, 13 million+ users migrated, 7.4 billion Pi moved on-chain, and real-world utilities like domain auctions, peer-to-peer marketplaces, gaming (e.g., FruityPi), and Pi Network Ventures (with a $100 M fund) have emerged.
Pi is now being widely traded, marking its transition from speculation to active market participation.
Who Developed the Pi Network?
It’s important to discuss who developed Pi, since this can directly impact the Pi Network price. While many similar projects often have anonymous developers, the team behind Pi is doxed.
The two founders behind Pi are Dr. Nicolas Kokkalis and Dr. Chengdiao Fan. Kokkalis is the Head of Technology at Pi Network. He holds a PhD in Computer Engineering from Stanford University and was the instructor of Stanford’s first course on decentralized applications (dApps).
His expertise lies in designing social computing systems, and he’s a firm believer in the transformative power of cryptocurrencies in improving everyday human interaction.
Dr. Chengdiao Fan serves as the Head of Product. Also a Stanford PhD, she has a degree in Anthropological Sciences, focusing her research on human behavior and social structures.
Her mission with Pi is to “mobilize individuals all over the world to participate and be rewarded for their contributions.” She leads the product vision and ensures the platform remains centered around real users, not just technical scalability.
The broader Pi Core Team includes over 35 professionals from various countries, spanning disciplines like blockchain engineering, UI/UX design, marketing, legal, and community development.
The team continues to actively engage with the community through Pi Network’s developer platform, community channels, and initiatives like the Pi Hackathon and Pi Network Ventures.
Both Kokkalis and Fan remain highly visible in public updates, ecosystem decisions, and leadership of Pi’s ongoing transition from development into a fully functioning Web3 platform.
The Pi Coin
The Pi coin is the native, underlying asset behind the Pi Network ecosystem. In order to get a better understanding of the dynamics of the Pi coin price, let’s take a closer look at the tokenomics of the coin.
The Tokenomics of Pi Coin
The total supply of Pi is capped at 100 billion coins.
Around 20 billion Pi is allocated to the Core Team, gradually unlocked over time to align with long-term project development. The remaining 80 billion Pi covers:
- Mining rewards (pre- and post-mainnet)
- Ecosystem liquidity
- Community incentives
- Developer and user engagement programs
While earlier versions of these tokenomics were intended for the pre-mainnet phase, the launch of the Open Mainnet in early 2025 has brought many of these mechanics to life. However, tokenomics may continue to evolve as the ecosystem scales and regulatory or market demands shift.
Pi Coin Mining
Pi uses a social network-based mining mechanism designed to ensure sustainability and fairness. The concept is simple: as the number of active users (Pioneers) increases, the mining rate decreases. This gradually slows the release of new coins into circulation, supporting long-term scarcity and value.
Below is a breakdown of the historical mining rate milestones, which influenced both user behavior and perceptions of the Pi Network’s potential value:
Milestone | Pi/Hour |
|---|---|
Up to 1,000 Pioneers | 3.14 |
1,000 Pioneers | 1.57 |
10,000 Pioneers | 0.78 |
100,000 Pioneers | 0.39 |
1,000,000 Pioneers | 0.19 |
10,000,000 Pioneers | 0.10 |
Table: Pi coin mining rate adjustments
As of June 2025, the base mining rate has been further reduced to just 0.0029 Pi/hour, emphasizing Pi’s transition from rapid growth to long-term utility and scarcity.
Pi Coin Use Cases
What determines how much Pi crypto is worth? A major factor is utility. Pi is designed for use in several cases, including:
- Everyday transactions within the Pi ecosystem;
- Securing the network through node operations and user verification;
- dApp payments and interactions on the Pi Browser;
- .pi domain services, gaming, and other platform-native features;
- Potential third-party integrations (e.g., in fintech, commerce, or Web3 applications).
Now that Pi coin is publicly tradable on platforms like MEXC, Bitget, and OKX, its price will likely depend on how useful it becomes in real-world applications.
Controversies
If you’ve been looking into the Pi Network price, you’ve probably come across some of the concerns surrounding the project.
One of the most discussed controversies was the repeated delay of the Open Mainnet launch. For years, Pi remained in a closed mainnet phase, where users couldn’t freely trade their tokens. Although the team consistently stated that the delay was to ensure the network’s infrastructure, apps, and KYC processes were fully prepared, many community members grew frustrated, especially since it took nearly six years from launch to go public.
Now that the Open Mainnet has officially launched (as of February 2025), those particular concerns have started to ease. However, the project still faces ongoing scrutiny.
Pi Network has been the subject of pyramid scheme allegations, mostly due to its heavy reliance on referral-based mining boosts. In addition, there are lingering data privacy concerns, as users must complete KYC (Know Your Customer) verification to access and transfer their Pi tokens, raising questions about how personal information is stored and used.
These issues are important to consider when assessing Pi’s long-term credibility and determining what Pi crypto might realistically be worth in the broader market.
