Pi

PI is the coin of Pi Network, a mobile-first blockchain where it is earned by tapping in an app and moved to Mainnet after identity checks.

Pi Network is a cryptocurrency project that lets people earn PI by pressing a button in a mobile app once a day, which it calls mining. It needs no special hardware, unlike energy-intensive proof-of-work mining. The project was founded by Stanford graduates Nicolas Kokkalis and Chengdiao Fan and published its whitepaper in March 2019. Its blockchain uses a consensus method based on the Stellar Consensus Protocol.

The Mainnet started on 28 December 2021 as a closed network that could not connect to outside exchanges. On 20 February 2025 the Open Network launched and PI began trading on exchanges such as OKX and Bitget. Mined balances only move to Mainnet after the user passes identity verification (KYC). By May 2026 about 18.1 million users had passed KYC and 16.7 million had migrated, and the Core Team keeps releasing fixes for users stuck in the process.

The maximum supply is 100 billion PI: 65 billion for mining rewards, 10 billion for the Foundation, 5 billion for liquidity and 20 billion for the Core Team. On 27 September 2026 about 11.2 billion PI were circulating. The mining rate adjusts to a yearly supply cap, and users get extra rewards for referrals, trusted connections and locking up their PI. Media analysis of on-chain data in 2025 found that wallets linked to the Core Team held most of the supply.

Inside the Pi app, PI can be spent in apps built for the Pi Browser, used to pay for AI app building in Pi App Studio and staked on apps in the Ecosystem Directory. Some authorities have warned the public about Pi: Hanoi police said in March 2025 that it lacks real-world applications and that paying with it in Vietnam can bring fines or criminal prosecution. The price fell from about $2.99 in February 2025 to about $0.09 in September 2026.