it means some pi are unrecoverable by miners.

So far, close to 98 million Pi coins have been transferred to exchanges, which is only 1.5% of all Pi coins mined so far.

With less than 30 hours remaining until the Open Network, the circulating supply allocated to exchanges is likely to be around 100 million coins. Surprisingly, in my post last January (shared below), I predicted a maximum circulating supply of 100 million.