Pi Network Adjusts Mining Rate to All-Time Low, Issues Lock-Up Reminder to Users
On August 1, Pi Network reduced its mining rate by 8%, from 0.0030165 π/h to 0.0027746 π/h.
Pi Core Team reminded users of voluntary lock-up options to potentially boost mining rewards by up to 200%.
Some community members see recent app updates as filler content while the Core Team delays more important developments.
The Pi Network has implemented a fresh reduction in its mining rate and issued new guidance encouraging community members to lock up tokens. The team made the change to maintain the ecosystem’s sustainability in the face of market volatility.
Pi Network Slashes Mining Rate by 8%
On August 1, the mining rate of the Pi Network was reduced by 8%, from 0.0030165 π/h to 0.0027746 π/h. This figure represents the lowest rate ever recorded since the network started mining. It shows a continued effort to reduce token emissions while supply increases. Woody Lightyear, a Pi community lead, pointed out this reduction in a recent X post.
Furthermore, the Pi Core Team reminded users of the Lock-Up option designed to strengthen network stability and incentivize long-term participation. Users can voluntarily lock up Pi either before or after migrating to the mainnet.
For those who haven’t migrated yet, pre-migration lockups can be configured in the app under the “Mainnet” tab. Post-migration lockups, set within the Pi Wallet, apply directly to already transferred Pi. In addition to protecting the ecosystem, these lockups give users rewards by raising their mining rate.
Both types follow the exact reward calculation mechanism, as detailed in the 2021 whitepaper. Once committed, lockups cannot be reversed. They reflect the project’s core philosophy of encouraging pioneers to think long-term rather than focusing on short-term price movements.
In a separate message, the Pi Core Team advised users to enable two-factor authentication, the third item on the Mainnet checklist, to ensure a seamless migration.