Summary
Pi Network has unveiled its detailed plan of migrating Mainnet to tens of millions of users.
The migration of Pi is founded on vetted mining facts with anti-cheat security compared to normal crypto coin airdrops done.
More than 12 million users are already successfully migrated to the Mainnet.
The migration has three strategic stages viz. First Migrations, Second Migrations, and Periodic Migrations.
Pi tokenomics distribute 65 percent of the 100 billion maximum supply to the rewards of community mining.
The Path to Mainnet – A Path Breaker in Digital Currency Availability
In what it termed as a momentous update that its community of followers and fans of the cryptocurrency have long been anticipating, Pi Network has finally unveiled its elaborate Mainnet migration plan. The news is an important step in the development of the mobile-mining cryptocurrency project that has gained tens of millions of users around the world in a half-a-dozen years of existence.
Contrary to the instantaneous airdrops in the crypto space, Pi Network has chosen to be orderly in migration, with focus on minimalism, by reducing the anti-social aspect of the airdrop, which also involved incredible risks. The mechanism takes advance of audited mining records and puts in place stringent measures of exploitation vulnerability.
Migration Strategy: Three Phases
The migration roadmap will be organized in three phases of strategy:
First Migrations
The first phase is aimed at those users who are in the queue and have confirmed base mining reward, reward from Security Circle, reward in lockup, reward using utility app, and reward to those users who have proved their Node.
Second Migrations
After the initial phase is finished, the network will move on to migration of referral bonuses. These bonuses become available only after the team members, referred by the person, pass the KYC verification.
Periodic Migrations
The last stage shifts towards normal migration cycle, monthly or quarterly migration, with all the unclaimed rewards and bonuses being deposited into the Mainnet wallets of users.
Insight Behind Transferable Balance
Pi Network has explained that the balance known as Transferable Balance seen on the app is simply an estimated calculation to lower the calculations. The amounts moved to Mainnet wallets can be higher against the initial calculations provided given the thorough study of years of activity and reward count.
Tokenomics: Community and Sustainability
The tokenomics possesses a well-planned distribution of 100 billion Pi supplies, which is the maximum supply:
- 65 percent set aside to reward community mining
- 10 percent to the foundation
- 5 percent as liquid assets
- The 20 percent will be allocated to the Core Team
These reserves grow correspondingly to the amount migrated Pi to stay fair and equal in the ecosystem.
Project Future of Pi Mining
The Pi mining rewards are in a decayed curve structure, and this means that the more people are engaged early enough, the higher the rewards will be, and the longer-term sustainability. Security Circles, utility apps and operation of Nodes allow users to maximize their rewards, with rewards proportional to a constantly-declining base rate.
By undergoing the process of the Mainnet migration transparently and with the interests of its users in mind, Pi Network proves its intentions to create a sustainable and decentralized ecosystem of digital currencies that anyone can access.