Pi Network Launch Date

What Is Pi Coin (PI)?

Pi Coin is the native crypto asset of the Pi Network ecosystem, designed to lower the entry barrier for blockchain participation via mobile devices. Unlike traditional mining methods that require high computational power, Pi Coin introduces “mobile mining” and a social trust graph model. Tokens are distributed based on daily check-ins and in-app contributions, recorded to reward users and build the network. These tokens are intended for future mainnet payments, in-app settlements, and ecosystem incentives. The “mainnet” refers to the fully operational blockchain that allows unrestricted transfers and external interactions. Before mainnet launch, Pi Network operates in a “closed network” phase, during which asset transfers outside the ecosystem are typically restricted.

What Is the Current Price, Market Cap, and Circulating Supply of Pi Coin (PI)?

As of 2026-01-22, Pi Network continues a phased transition and does not provide public, verifiable data on mainnet circulation or allow unrestricted transfers. As a result, there is no unified standard for market cap or true circulating supply. “IOU” prices (informal, off-exchange vouchers or forward contracts) seen online, as well as secondary market numbers, do not reflect actual mainnet token prices. For official updates, refer to Pi Network announcements and FAQs (latest as of October 2024), which emphasize that unauthorized listings and prices do not represent mainnet reality.

Given these limitations, it’s more meaningful to track project milestones and ecosystem activity—such as higher KYC coverage, growth in developer apps, and phased mining output reductions. These factors will shape supply-demand dynamics and price discovery after the mainnet opens. If you track Pi Coin on Gate, always refer to Gate’s official listing announcements and trading pages, and monitor withdrawal status.

Sources: Official Pi Network materials and FAQ (as of October 2024), compiled by the author; data timestamp: 2026-01-22.

Who Created Pi Coin (PI) and When?

Pi Coin was developed by an academically-backed team that released its whitepaper and mobile mining application around 2019. The project then went through phases including testnet, closed network, and KYC scaling. The closed network phase focused on strengthening account infrastructure, improving KYC processes, and incubating ecosystem applications—without external blockchain interaction—to prepare for open mainnet launch. KYC (“Know Your Customer”) is an identity verification process that reduces the risk of multiple accounts and ensures compliance.

How Does Pi Coin (PI) Work?

The operation of Pi Coin centers on two main components: First is the social trust graph and mobile mining model. Users earn token rewards through daily check-ins, referrals, and in-app contributions. Mining output decreases in stages as the network grows, managing long-term supply. Second is the consensus mechanism. According to official documentation, Pi uses a trust graph-based consensus similar to the “Federated Byzantine Agreement” (FBA) family—drawing inspiration from protocols like SCP. Nodes reach agreement through “quorum slices,” enhancing fault tolerance in open internet environments. The consensus mechanism secures the network by validating transaction order and ledger state.

Once the mainnet is open, transactions are confirmed on-chain, and transfers or app interactions are no longer limited by the closed network phase.

Reference: Public descriptions from the Pi Network whitepaper and developer docs (as of October 2024).

What Are the Use Cases for Pi Coin (PI)?

Pi Coin is designed for several primary use cases:

• Payments & Settlement: Small payments, tipping, and goods exchange within DApps in the ecosystem.
• Developer Incentives: Tokenized rewards for developers and content creators to promote app growth.
• Network Security & Governance: In the future, staking or reputation mechanisms may be introduced to enhance node security and governance participation.

Currently, most use cases remain “expected.” Practical adoption will become clearer once the mainnet opens with unrestricted transfers.

What Wallets and Extensions Are Available in the Pi Coin (PI) Ecosystem?

Pi’s ecosystem tools are primarily official: the mobile app, Pi Browser, and in-app wallet for account management and ecosystem interaction. Wallets come in two types:

• Custodial: Private keys are held by the platform for user convenience but require trust in platform security.
• Self-custody: Users manage their own private keys or recovery seed phrases. This offers full control but assets cannot be recovered if lost.

Once mainnet withdrawals and cross-chain features are fully enabled, watch for hardware wallet or third-party wallet support and increased interoperability with other blockchains.

What Are the Main Risks and Regulatory Considerations with Pi Coin (PI)?

• Project Progress & Liquidity: Mainnet launch timing, KYC coverage, and ecosystem rollout affect real circulation and price discovery.
• Information Asymmetry: Unofficial “IOU” or OTC quotes can differ significantly from actual mainnet prices, creating delivery and pricing risks.
• Compliance & Privacy: Regulatory requirements for KYC and token trading vary by region—always protect your personal data.
• Custody & Private Keys: Custodial wallets carry platform risk; with self-custody, securely back up seed phrases/private keys to prevent loss or phishing attacks.
• Fraud & Scams: Beware of fake apps, phishing airdrops, or “guaranteed high returns.” Be extremely cautious with links requesting transfers to unlock assets.

How Do I Buy and Safely Store Pi Coin (PI) on Gate?

If Gate lists Pi Coin:

Step 1: Register and complete KYC. Sign up at gate.com, verify your email/phone number, complete KYC to unlock higher withdrawal and trading limits.

Step 2: Search for official trading pairs. On the “Spot” page, search for “PI.” Enter the trading page to check pair details, project info, and withdrawal status announcements—avoid confusion with similar tokens.

Step 3: Deposit or transfer funds. Deposit USDT or fiat currency, then transfer to your spot account. Confirm deposit network and amount.

Step 4: Place your trade.

• Limit Order: Set your desired price—best for users wanting specific execution prices.
• Market Order: Fill instantly at market price—faster but may cause slippage. After placing an order, check status under “Orders/Positions.”

Step 5: Secure storage & withdrawal. For short-term holding, keep assets on Gate with two-factor authentication and withdrawal whitelist enabled. If mainnet withdrawals are open and you choose self-custody, only transfer to verified wallet addresses and carefully back up your seed phrase/private keys. If withdrawals are closed, never send assets to unknown “swap channels.”

If not listed on Gate: Add PI to your watchlist and subscribe to project updates—never buy “OTC PI” or IOUs from unverified sources.

How Does Pi Coin (PI) Compare with Bitcoin?

• Issuance & Circulation: Bitcoin (BTC) has been freely circulating on its open mainnet since around 2010; Pi Coin is still transitioning, with real circulation and market cap to be defined post-mainnet.
• Consensus & Resource Usage: BTC uses Proof of Work (PoW), requiring computational competition; Pi Coin uses an FBA-like consensus focused on trust graphs and node selection—lower energy usage but greater demands on trust set design.
• Intended Use: BTC serves as a “store of value/settlement layer”; Pi Coin targets mobile adoption and small payments/in-app incentives within its ecosystem.
• Decentralization & Ecosystem Maturity: BTC has a mature node/developer community; Pi’s ecosystem is still growing—decentralization and developer engagement will be clearer after mainnet launch.
• Risk Profile: BTC volatility is mainly macro-driven; Pi Coin is more sensitive to project progress, KYC coverage, and rollout schedule.

Summary of Pi Coin (PI)

Pi Coin aims to lower blockchain’s entry barrier through mobile access and a trust graph approach. The PI token is positioned as both a payment instrument and incentive tool for the ecosystem. The project is still transitioning from closed network to open mainnet; there are no verifiable figures for circulating supply or market cap yet. Unofficial secondary market prices do not reflect actual mainnet value. For investors, focus on Gate’s listing/withdrawal announcements, verify contract addresses and withdrawal options, understand limit vs market orders as well as custodial vs self-custodial wallets—and always prioritize privacy and private key security. Looking ahead, keep track of KYC expansion, developer activity, and emission rule changes—as these fundamentals will shape supply-demand balance and long-term performance after mainnet launch.

FAQ

When Did the Pi Network Mainnet Officially Launch?

The Pi Network mainnet officially launched on December 28, 2021. This transition marked Pi’s evolution from mobile mining into an operational blockchain mainnet where users could begin on-chain transactions and transfers. Only after mainnet launch could Pi be traded on exchanges.

What Are Key Milestones Before and After Pi Mainnet Launch?

Pi’s development history includes its project launch on March 14, 2019; mobile mining phase from 2019–2021; and mainnet launch on December 28, 2021. The mainnet release was a major milestone that transformed Pi from an app-based project into a true blockchain asset—with significant changes in function and liquidity at each stage.

How Long Did It Take for Pi to Go from Launch to Mainnet Release?

From March 14, 2019 to December 28, 2021—about two years and nine months. During this period, Pi mainly grew its user base through mobile mining. Compared to other crypto projects, this was a relatively long cycle reflecting a cautious development strategy.

Where Can You Trade Pi After Mainnet Launch?

Following mainnet activation, Pi can be traded on major cryptocurrency exchanges such as Gate. Mainnet launch enabled genuine blockchain-based trading of mined PI coins. For security of funds, always trade on reputable exchanges.

Why Did Pi Wait Until 2021 for Mainnet Release?

Pi followed a gradual development approach—first building its user base through mobile mining before launching the mainnet. This allowed time for technical development, security audits, and ecosystem preparation. Such caution helped minimize risks at launch while ensuring system stability and user asset security.

Glossary of Key Terms for Pi Network (PI)

• Mining: The process where users earn new Pi Coins by running the official application.
• Consensus Mechanism: Pi adopts an improved consensus protocol to secure the network and validate transactions.
• Wallet: A digital tool used to store, send, or receive PI tokens while managing users’ private keys.
• Node: A computer participating in maintaining the Pi Network by validating transactions and keeping the ledger updated.
• Mainnet: The live blockchain network where transactions have real value—different from testnets.
• KYC Verification: User identity verification process ensuring regulatory compliance within Pi Network.

Further Reading & References on Pi Network (PI)

• Official Website / Whitepaper:

  • https://pi.app/
  • https://minepi.com/whitepaper

• Development / Documentation:

  • https://github.com/pi-apps
  • https://developers.pi.app/

• Authoritative Media / Research:

  • https://blog.pi.app/
  • https://pinetwork.medium.com/