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There’s no official confirmation from the Pi Network Core Team that a deliberate "coin burn" program has started for PI coins as of today, March 18, 2025. However, there are mechanisms and events tied to the Pi Network that have led to speculation and discussion about coin burning, particularly around reducing the total supply.
In the Pi Network ecosystem, coins can be removed from circulation in a few ways that might be interpreted as "burning." For example, transaction fees on the Pi blockchain, which is built on the Stellar protocol, are collected and removed from circulation, effectively "burned" to manage inflation. Posts on X from early March 2025 suggest that around 528,671 PI had been burned this way by then, with an estimated 3,000–4,000 PI burned daily. This isn’t a new "start" to burning but rather an ongoing feature of the network’s design since its mainnet launch.
Additionally, PI coins tied to unverified accounts—those that failed to complete the Know Your Customer (KYC) process—may also be removed from circulation. The KYC process has been a critical step for users to migrate their coins to the mainnet, which officially opened on February 20, 2025. Some sources, including posts on X, indicate that unclaimed or unverified PI from accounts that missed KYC deadlines (like the grace period ending December 30, 2024) has been burned, reducing the total supply. A recent X post from today, March 18, 2025, claims the total supply dropped to 6.99 billion, hinting at a significant reduction possibly linked to these unverified accounts.
That said, the Pi Network team has not explicitly announced a formal coin burn event beyond these mechanisms. Unlike some cryptocurrencies that schedule burns to reduce supply intentionally, Pi’s reductions seem tied to operational rules (e.g., fees, KYC failures) rather than a new initiative starting now. The sentiment on X and some web discussions suggest excitement about a shrinking supply, but without an official statement, it’s unclear if this reflects a recent change or just the cumulative effect of existing policies.
So, to answer your question: PI coins have been "burning" in the sense of being removed from circulation through fees and unverified account losses, but there’s no evidence of a new, specific "burn start date" beyond what’s been happening since the mainnet went live. Keep an eye on official Pi Network channels for any updates, as the situation could evolve!
#pi #Binance #BinanceSquareTalks There’s no official confirmation from the Pi Network Core Team that a deliberate "coin burn" program has started for PI coins as of today, March 18, 2025. However, there are mechanisms and events tied to the Pi Network that have led to speculation and discussion about coin burning, particularly around reducing the total supply.
In the Pi Network ecosystem, coins can be removed from circulation in a few ways that might be interpreted as "burning." For example, transaction fees on the Pi blockchain, which is built on the Stellar protocol, are collected and removed from circulation, effectively "burned" to manage inflation. Posts on X from early March 2025 suggest that around 528,671 PI had been burned this way by then, with an estimated 3,000–4,000 PI burned daily. This isn’t a new "start" to burning but rather an ongoing feature of the network’s design since its mainnet launch.
Additionally, PI coins tied to unverified accounts—those that failed to complete the Know Your Customer (KYC) process—may also be removed from circulation. The KYC process has been a critical step for users to migrate their coins to the mainnet, which officially opened on February 20, 2025. Some sources, including posts on X, indicate that unclaimed or unverified PI from accounts that missed KYC deadlines (like the grace period ending December 30, 2024) has been burned, reducing the total supply. A recent X post from today, March 18, 2025, claims the total supply dropped to 6.99 billion, hinting at a significant reduction possibly linked to these unverified accounts.
That said, the Pi Network team has not explicitly announced a formal coin burn event beyond these mechanisms. Unlike some cryptocurrencies that schedule burns to reduce supply intentionally, Pi’s reductions seem tied to operational rules (e.g., fees, KYC failures) rather than a new initiative starting now. The sentiment on X and some web discussions suggest excitement about a shrinking supply, but without an official statement, it’s unclear if this reflects a recent change or just the cumulative effect of existing policies.
So, to answer your question: PI coins have been "burning" in the sense of being removed from circulation through fees and unverified account losses, but there’s no evidence of a new, specific "burn start date" beyond what’s been happening since the mainnet went live. Keep an eye on official Pi Network channels for any updates, as the situation could evolve!
#Binance #pi #BinanceSquareTalks #shareyourthought