Pi Coin developers have provided updates regarding their Mainnet migration roadmap and have explained the project's tokenomics and supply structure.
Migration Goals and Phases
The developers of Pi Coin shared that the Mainnet migration is a complex process aimed at safely and effectively migrating tens of millions of users engaged in mobile mining. So far, over 12 million users, or 'Pioneers,' have successfully migrated to the Mainnet.
The initial goal was to migrate at least 10 million users before launching the Open Network. However, developers noted that the migration process will continue even after the Open Network goes live. The team outlined three key phases:
Pi Coin Tokenomics
As part of the update, developers also presented details about Pi's tokenomics. The maximum supply is set at 100 billion tokens, distributed as follows:
- 65% for community mining rewards - 10% for foundation reserves - 5% for liquidity - 20% for Core Team
These rates will remain stable, tracking the pace of Mining Rewards movement, allowing for comprehensive scaling of the Effective Total Supply based on active transactions.
Market Condition
Currently, Pi Coin is trading 79% lower than its all-time high price set two months ago. It is also important to consider ongoing Ponzi scheme allegations surrounding this cryptocurrency.
The updated information about the migration and tokenomics of Pi Coin highlights the team's commitment to ensuring a safe and organized transition to the Mainnet. Given the current prices and fraud suspicions, users should exercise caution.
