This is a general culture article. It is definitely not an investment advice. You can get support from professionals in the field for investment.

1. Fundamentals and Purpose of the Project

Pi Network is a blockchain project launched in 2019 by Stanford University graduates Dr. Nicolas Kokkalis and Dr. Chengdiao Fan. Its main goal is to make cryptocurrency mining accessible to everyone via mobile devices and to minimize energy consumption compared to traditional methods. Unlike Bitcoin mining, it does not require high hardware and users can mine by pressing a button in the application once a day.

Consensus Mechanism:

Stellar Consensus Protocol (SCP) is used. This protocol provides energy efficiency and offers a decentralized structure.

2. Token Economy (Tokenomics)

Total Supply: 100 billion PI coins.

Distribution:

Mining Rewards (65%):

65 billion PI, rewards based on user participation.

Ecosystem Development (10%):

10 billion PI, for community projects and dApps.

Liquidity Pool (5%):

5 billion PI, to provide liquidity for transactions.

Core Team (20%):

20 billion PI, for development and maintenance.

Circulating Supply:

As of December 2024, there are 562 million PI in circulation. Most users have chosen to protect their tokens with a 3-year lockup period.

3.Mainnet Launch and Exchange Listing

Launch Date:

February 20, 2025

Supported Exchanges:

OKX and Bitget will officially list. Exchanges such as Binance and Huobi are expected to participate.

IOU Price: Speculated at around $64. Analysts predict a range of $30-50 after launch.

OTC Price: Traded at $2 on unofficial platforms.

4. User Statistics and Popularity

Active Users:

45 million+ (October 2024 data).

Social Media:

5th most popular crypto project on X (Twitter) with 3.7 million followers.

Download Count:

100 million+ on Google Play.

5. Security and Criticisms

Data Leak Allegations:

In 2021, it was alleged that the personal data of 10,000 Vietnamese users was leaked. Pi Network pointed to third-party KYC provider Yoti and denied the accusations.

Pyramid Scheme Accusations:

It has been labeled an illegal pyramid scheme in China due to its hierarchical invite system. Users can increase their mining speed by inviting new members.

Centralization:

There is criticism of decentralization as 20% of the token distribution is reserved for the team.

6. KYC and Mainnet Migration Requirement

Deadline:

Those who do not complete KYC verification and Mainnet migration by January 31, 2025 will lose the majority of their earned PI.

Process:

Verification with ID (passport, driver's license) and live selfie is required.

7. Future Projections and Risks

Potential: It is speculated that it could reach $100 with the success of the mainnet and exchange listings.

Risks:

- Lack of real use cases.

- Continuously delayed launches and uncertainty.

- Price volatility due to selling pressure from early investors.

8. Summary and Investor Recommendations;

While Pi Network reaches a wide audience with an innovative model, it carries uncertainties and regulatory risks. While price movements are expected in the short term with the mainnet launch and exchange listings, the expansion of the ecosystem and the increase in usage areas are critical for long-term success. Investors are advised to complete the KYC process and follow project developments closely.

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