What is PI coin?

Pi Network launched its public blockchain on 20 February 2025, enabling features such as access to decentralised apps (dApps) and external wallet transfers using its native cryptocurrency – PI coin.

PI coin is now tradeable via cryptocurrency exchanges, allowing the purchase and sale of PI directly – or via CFDs, which means you can speculate on whether the coin’s price will rise or fall.

So, what is the PI cryptocurrency, and how much of it is out there? How does the Pi Network work, and what do people use it for? Let's take a look.

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Pi Network explained

Founded in 2018 by Stanford academics Nicolas Kokkalis and Chengdiao Fan, Pi Network aims to make cryptocurrency more accessible via mobile devices, without the need for specialised hardware or high energy consumption. Users mine its native token, PI coin, by downloading its mobile application and tapping a button once every 24 hours. New users join the network by invitation and can earn additional rewards by referring others.

There are four user roles on Pi Network: Pioneers: Individuals who mine PI via the mobile application.

• Contributors: Users who form teams of 3-5 trusted contacts to enhance network security.
• Ambassadors: Participants who expand the network through referrals.
• Nodes: Users operating the Pi node software on personal computers.

Pi Network uses a modified version of the Stellar Consensus Protocol – which also powers XLM – to validate transactions based on user trust rather than computational power. Its mining rate halves at fixed adoption milestones and continues to decline. Supply is designed to reward early contributors while limiting long-term inflation.

Since entering its public blockchain phase on 20 February 2025, Pi Network has expanded beyond mobile mining to support external wallet transfers, decentralised applications (dApps), and compatibility with other blockchains.

What’s the value of PI?

Following years of testing and restricted trading, Pi Network’s open mainnet launched on 20 February 2025, allowing exchanges to begin recording official PI coin price data.

On 28 February, PI closed at $2.1377, reflecting initial demand and speculative interest from its large user base.

PI’s price reached a high of $3.14 on 4 March 2025 before facing downward pressure from monthly token unlocks exceeding 100m coins and limited liquidity. By 31 March, PI had fallen to $0.7168 – a 77.2% drop from peak.

PI closed April 2025 at $0.6145, potentially due to accelerated token releases.

Past performance is not a reliable indicator of future results.

Monitor PI coin’s performance in real time with our PI/USD price chart.

How many PI coins are there?

As of May 2025, according to data from CoinMarketCap, there are approximately 6.99bn PI tokens in circulation.

Pi Network has a maximum supply cap of 100bn PI coins, with allocations divided between mining rewards (65%), core team (20%), foundation (10%), and liquidity (5%). However, the Effective Total Supply grows proportionally to community migration – only tokens matching migrated user balances become active.

The distribution model prioritises anti-dumping measures: all allocations (including team reserves) remain locked until equivalent community migration occurs. This ensures network growth and market stability through incentive alignment between users and developers.

What is Pi Bridge, and when did it launch?

Pi Bridge is a third-party cross-chain protocol launched in September 2022, during Pi Network’s closed testing phase, to facilitate interoperability between Pi Network and external blockchains. Initially focusing on the BNB Smart Chain (BEP20), Pi Bridge facilitates the issuance of wrapped PI tokens (WPI) on BEP20 chains, which means users can engage with decentralised finance (DeFi) applications outside the Pi ecosystem.

Wrapped tokens are digital representations of cryptocurrencies from one blockchain that can be used on another. They are typically backed 1:1 by the original asset, held in reserve by a custodian. This process allows for greater interoperability between different blockchain networks.

Developed independently as a third-party service, Pi Bridge operates as a BEP20-based decentralised application (dApp) and has no formal affiliation with Pi Network’s core team. Exercise caution and conduct thorough research before interacting with third-party services involving wrapped PI tokens.

Find out more about decentralised finance in our comprehensive DeFi trading guide.

What is the future of the Pi Network?

Pi Network’s future could be influenced by factors such as major exchange listings, demand for PI coin, network upgrades, compatibility with external blockchains, user verification rates, token supply unlocks, and developer adoption.

Its core development team has outlined a three-phase roadmap:

However, specific timelines for future upgrades remain undisclosed.

Can you trade or sell PI coin?

PI coin became tradeable on some cryptocurrency exchanges following Pi Network public network launch in February 2025.

PI is also available via select contract for difference (CFD) brokers, allowing directional exposure without asset ownership. Trading conditions vary by venue, and users should understand the risks involved before participating.

Learn more about PI and how to trade it in our PI coin trading guide.

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