Creation Of 10,000 Wallet By Pi Core Team Is For Security Reason

I personally witnessed live, during 2020 and 2021, how the Pi Core Team’s 20 billion Pi coins was split into 10,000 smaller wallets, and then those wallets further transferred their holdings to another 10,000 wallets.

I even captured screenshots of those events and shared in my youtube channel ( image below).

The chart showing the creation of these wallets can be clearly verified through my annual migration data sheet.

In other words, the fact that each of these 10,000 wallets contains around 2 million Pi was transparently visible on the Pi blockchain from the beginning, and it was never something they tried to hide or something.

Although the exact reason why these wallets were divided this way isn’t officially confirmed, it’s quite easy to make reasonable assumptions.

For example, even the founder of Ripple recently acknowledged being hacked and losing his XRP.

Given that the early stages of Pi Network’s blockchain might not have been fully secure, the Core Team likely chose the safest strategy to protect their large assets by breaking them into smaller pieces.

Also, as mentioned in the white paper, since the community was being allocated migrated coins, it would make sense for the Core Team to activate their own allocation in a similar proportion — perhaps for both technical and security reasons.

Importantly, all these 10,000 wallets can be tracked transparently on sites like PiTracker, and over the past two months, there has been no movement. Even before that, the total coin movement was less than 10 million Pi.

As stated in the white paper, since the community has now migrated more than 7 billion Pi out of the total 65 billion available to them, the Core Team would be entitled to more than 10% of their 20 billion allocation.

So, even if they had sold off 2 billion of their own Pi coins, it would still be within what was expected and reasonable.

- By an analyst on X Platform