5 things to know about Pi Network

After being six years in the development, Pi Network launched its open mainnet on Feb. 20, allowing external trading of Pi tokens.

Here are five key facts about the network.

What is Pi Network?

Pi Network is a blockchain-based platform that enables users to mine cryptocurrency through a mobile app. Developed by Stanford graduates, it aims to make digital currency accessible to the general public by removing the need for specialized mining hardware or technical expertise.

Users earn Pi coins by checking in daily, unlike Bitcoin and other cryptocurrencies that require energy-intensive mining operations, according to Forbes.

How does Pi Network work?

Pi Network operates on the Stellar Consensus Protocol, which relies on a trust-based system rather than Bitcoin’s energy-intensive proof-of-work model.

Users create "trust circles" by selecting 3-5 reliable contacts, forming a global network that secures transactions without requiring significant computing power. Pioneers earn Pi by checking in daily, while additional rewards are given for expanding trust circles and operating full nodes. The system also incentivizes app usage and Pi lockups to support ecosystem development.

Pi Network's logo. Photo from X

How do users participate in Pi Network?

Pi Network assigns users four main roles: Pioneer, Contributor, Ambassador, and Node Operator.

Pioneers mine Pi by checking in daily through the mobile app. Contributors create Security Circles by selecting trusted members to enhance network verification. Ambassadors grow the network by inviting new users, while Node Operators run validation software on computers to secure transactions.

How can Pi coins be used?

Following Pi Network’s transition to an open network on Feb. 20, Pi tokens are now listed on exchanges such as OKX, MEXC, and Bitget, allowing external trading.

Before the open mainnet launch, Pi coins were only used within the network’s internal ecosystem. Users could spend them on goods and services through Pi-enabled marketplaces or transfer them peer-to-peer. Developers created apps that accepted Pi as payment, ranging from e-commerce platforms to digital services.

What is the value of Pi?

Pi cryptocurrency debuted on exchanges at an initial price of $2 per Pi before fluctuating and stabilizing at around $1.1 on Feb. 20.

Before the listing Pi Network communities had set much higher "consensus values" ranging from $500 to $1,000, and urged holders not to sell at low prices.

One group proposed a global value of $314,159 per Pi, which was dissmissed by OneSafe as "unrealistic."