Pi Network is a social cryptocurrency, developer platform, and ecosystem designed for widespread accessibility and real-world utility. It enables users to mine and transact Pi using a mobile-friendly interface while supporting applications built within its blockchain ecosystem.

Pi Network was founded by Dr. Nicolas Kokkalis and Dr. Chengdiao Fan, both of whom have PhDs from Stanford University and a passion for improving human lives through technology.

Dr. Nicolas Kokkalis is a Stanford PhD in EE and postdoc in CS with research on distributed systems and human-computer interaction. His work focuses on combining distributed systems and human-computer interaction to bring cryptocurrency to everyday people. As a strong and long-term believer of the technical, financial and social potential of cryptocurrencies, he is determined to move them beyond their current limitations and is committed to bringing the power of blockchain to more people.

Dr. Chengdiao Fan holds a Stanford PhD in Anthropological Sciences, harnessing social computing to unlock human potential on a global scale. Chengdiao is building Pi Network to mobilize individuals all over the world to participate and be rewarded for their contributions, and establish an inclusive ecosystem for global citizens to unleash and capture their own agency, and in turn create utilities and productions for society and the world.

The Maximum Supply of Pi is 100 billion tokens. The Maximum Supply is comprised of the following:

• 65 billion tokens (65%) for all community mining rewards
• 10 billion (10%) for foundation reserves
• 5 billion (5%) for liquidity purposes
• 20 billion (20%) for the Core Team

Each allocation tracks the community Migrated Mining Rewards issuance pace, so the proportions of each allocation in the total supply remain the same at any given time.

The Effective Total Supply of Pi allocates Pi proportionally the same as the Maximum Supply. It can be calculated by dividing the current Migrated Mining Rewards of Pi on the Mainnet blockchain by 65%. Other allocations are then calculated based on this proportion.

Circulating Supply includes all Migrated Mining Rewards and tokens that entered circulation from other allocations, which can sum up to equal the Effective Total Supply.

Mining rewards are distributed using an issuance formula following a declining exponential model. Users can increase their rewards based on contributions such as Security Circles, using Pi apps, and running Nodes. The monthly mobile balance distribution is capped by a base mining rate that decreases over time. Real issuance depends on users completing KYC and migration, which affects the actual amount of Pi issued. Therefore, the Effective Total Supply will likely remain lower than the Maximum Supply.

Pi Network has built an integrated ecosystem for real-world transactions and decentralized applications. Pi can be used for goods and services, including online and physical businesses.

Users engage with apps in the Pi ecosystem through the Pi Browser. Events like PiFest 2024 showed growing adoption, with over 27,000 active sellers and 28,000 test merchants in 160 countries.

Pi Network implements a one-account-per-person policy using Know Your Customer (KYC) solutions. This combines automation and human verification to confirm user identities while protecting privacy.

The KYC process ensures participation by real individuals, reduces fraud, and supports fair mining. The system balances scalability, security, and accessibility to allow millions of users to validate accounts while maintaining regulatory compliance.