Pi
Crypto Overview
Overview
Pi Network is a cryptocurrency and mobile mining project launched in 2019 by Stanford graduates. The project aims to create an accessible cryptocurrency that can be mined through mobile phones, with the stated goal of bringing cryptocurrency adoption to everyday users.
Purpose and Utility
The intended purpose of Pi is to serve as a medium of exchange within its ecosystem, allowing users to transact directly with each other. The project includes a mobile mining app, a development platform for building applications, and a marketplace for goods and services.
The Pi MainNet launched in December 2021, though the cryptocurrency remains in an enclosed mainnet phase where external transfers are not yet enabled. Users can currently engage in KYC verification, mine Pi through the mobile app, and participate in a limited closed marketplace.
Business Model Analysis
The core business model revolves around building a user-owned and operated economic ecosystem. The project does not involve interest-bearing products, gambling, or explicit lending protocols. Revenue appears to be intended to come from ecosystem growth and adoption rather than prohibited activities.
Development and Adoption
The project maintains active development with regular updates to its mobile app and infrastructure. While claiming millions of users mining Pi, the enclosed nature of the current mainnet makes verification of actual adoption metrics challenging. The marketplace feature is operational but limited in scope during this phase.
Token Distribution
Pi's distribution model allocates tokens through mobile mining, with additional allocations for the core team and development. The exact percentage of team allocation is not publicly disclosed. Mining rewards decrease as more users join the network, following a halving mechanism similar to Bitcoin.
Crypto Impact
To assign a comfort level investing in Pi from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Pi.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.