Pi - Token Supply
Token Emission Policy
- Total Max Supply = M + R + D
- M = total mining rewards
- R = total referral rewards
- D = total developer rewards
- M = ∫ f(P) dx where f is a logarithmically declining function
- P = Population number (e.g., 1st person to join, 2nd person to join, etc.)
- R = r * M
- r = referral rate (50% total or 25% for both referrer and referee)
- D = t * (M + R)
- t = developer reward rate (25%)
The Pi Network Team Chose To Build The Consensus Algorithm On Top Of SCP Which Is Implemented Within The Stellar Network.
There are four roles Pi users can play, as Pi miners. Namely:
- Pioneer. A user of the Pi mobile app who is simply confirming that they are not a “robot” on a daily basis. This user validates their presence every time they sign in to the app. They can also open the app to request transactions (e.g. make a payment in Pi to another Pioneer)
- Contributor. A user of the Pi mobile app who is contributing by providing a list of pioneers he or she knows and trusts. In aggregate, Pi contributors will build a global trust graph.
- Ambassador. A user of the Pi mobile app who is introducing other users into Pi network.
- Node. A user who is a pioneer, a contributor using the Pi mobile app, and is also running the Pi node software on their desktop or laptop computer. The Pi node software is the software that runs the core SCP algorithm, taking into account the trust graph information provided by the Contributors.
But Randy Pi Network Is Mined On Your Phone And People Refer Each Other.
I know, it is off-putting for old school cryptocurrency folks like myself. I love my Proof of Work coins and Privacy coins like Monero and the MimbleWimble projects like Epic Cash. But I refuse to miss out on something different just because I might not agree with these aspects of the project.
I am going to tell you a little story about my cryptocurrency early years. I was really reluctant to buy Bitcoin prior to 2014 even though I knew all about it in 2011. The reason was I was a Gold and Silver guy and the idea of digital money was something I struggled with. It really took Bitcoin going stratospheric in 2013 to really get my attention. So I missed out on a great opportunity.
I vowed that I would not let it happen again. So I joined the Ethereum train very early on. I saw the MimbleWimble protocol and jumped on board. Now I see the opportunity to put cryptocurrency into the hands of people around the world using their phones. MINDBLOWN!
At The Time Of This Writing, Pi Network Is About To Reach Its First Million Users.
This milestone has a big feature. It is the first halving for the Pi Network.