Mobile mining stopped being a hype long ago, but Pi Network is trying to rethink it and make cryptocurrency accessible to everyone. In this article, we explain in simple terms how “mining” works in Pi, how it differs from classic mining, what risks exist, and how to prepare for the transition to the open network.
- What is Pi Network
- How Pi “mining” works
- How Pi differs from classic mining
- Network status and key dates
- What Pi IOU tokens are and why they exist
- Pros, limitations, and risks
- Step-by-step guide: how to start mining Pi
- How to increase potential returns
- Mainnet Checklist: how to complete it and migrate
- Security, tips, and common mistakes
- FAQ
- Conclusions
What is Pi Network
Pi Network is a crypto project launched in 2019 by a group of Stanford researchers led by Dr. Nicolas Kokkalis and Dr. Chengdiao Fan. Its goal is to lower the barriers to owning digital assets: mining is done on a smartphone without overheating the device or “burning” electricity, and participation doesn’t require special knowledge. The ecosystem’s main products are the Pi cryptocurrency and the Pi Network mobile app.
How Pi “mining” works
Pi Network doesn’t use Proof-of-Work: your phone doesn’t solve complex problems or consume resources. Consensus is based on the Stellar Consensus Protocol (SCP) — a Federated Byzantine Agreement (FBA) model in which nodes reach agreement through trusted “quorum slices.” As a result, confirming operations doesn’t require energy-intensive computation and can be performed on ordinary devices.
Read more about SCP in Stellar’s documentation and the Pi Network FAQ.
How Pi differs from classic mining
- No “rigs” or power bills. No need for ASICs/GPUs, noise, cooling, etc.
- Mobile check-in instead of computation. Once every 24 hours, the user taps the lightning button in the app to confirm activity.
- Social growth model. Your earning rate increases through trusted contacts (security circles) and invitations — both a growth mechanism and a bot-mitigation element.
- User roles: Pioneer (basic user), Contributor (adds trusted people), Ambassador (invites new participants), Node (runs a node on a PC).
Network status and key dates
Pi started with an enclosed mainnet at the end of 2021. The team then announced a Grace Period with KYC and migration deadlines. First, the KYC submission window was extended to November 30, 2024, and the final migration deadline to December 31, 2024. Later, both were extended one last time to March 14, 2025, 08:00 UTC.
The Open Network launched in 2025. The official Pi blog mentioned plans for Q1 2025, and the “100 Days of Open Network” post dated June 19, 2025 confirms that the open stage has been underway (≈ since March 2025). This means broader utility scenarios and the gradual onboarding of ecosystem apps and partners.
At the same time, the availability of trading and listings varies across countries and platforms and remains subject to local regulatory requirements. Some market aggregators still display unofficial “PI” data — more on that below in the IOU section.
What Pi IOU tokens are and why they exist
An IOU (I Owe You) token is a “promise” to deliver an asset in the future, once it becomes available for real transfers and settlement. Before the Open Network launch, several centralized exchanges published derivative “PI” as IOUs — speculative placeholders not linked to your balances in the Pi app and not convertible into “real” Pi. Such listings were not part of the official ecosystem, and their prices reflected only traders’ expectations. Even today, aggregators may show a “PI price” that actually refers to an IOU/unofficial version of the token. Be careful and verify your sources.
Pros, limitations, and risks
Advantages
- Accessibility. You can start on almost any modern smartphone; power consumption is negligible.
- Low knowledge barrier. Simple 24-hour check-in logic.
- Community and utility. Growth in KYC-verified users and mainnet migrations lays the groundwork for dApp scenarios and real coin usage in the Open Network.
Limitations and risks
- Roadmap dependency. Full liquidity and listing coverage depend on how quickly exchanges/regions and partnerships are onboarded.
- IOU noise. Unofficial “PI” on third-party platforms can be misleading about real utility and token status.
- Regulatory uncertainty. Some jurisdictions may impose additional KYC/AML requirements.
Step-by-step guide: how to start mining Pi
- Download the app. Install Pi Network on iOS or Android (from the official stores).
- Sign up. Email or social login is enough to start. Create a strong password.
- Enter an invite code. It’s part of the network’s social model; invitations can increase your earning rate.
- Start “mining.” Open the app and tap the lightning icon. Repeat the check-in every 24 hours.
- Build a security circle. Add trusted contacts — it improves security and your earning rate.
- Connect Pi Browser. You’ll need it for the wallet, dApps, and completing the checklist steps (see below).
- Consider running a node. If you have a PC/laptop, set up a Pi Node — it contributes to decentralization and network stability.
If you view Pi as a long-term Web3 experiment, it makes sense to track KYC status, migration, and team updates — they affect when and how you’ll be able to use your coins in the ecosystem (see “Network status and key dates” above).
Check the network status and review utility before swapping PI
How to increase potential returns
- Check-in discipline. Don’t skip 24-hour sessions — that’s the foundation of your earning rate.
- Invite responsibly. Share your invite code with real people and explain the rules — it speeds up your growth and improves network quality.
- Security circle. Add people you trust — it’s about both security and speed.
- Lockup configuration. Committing part of your balance helps network stability and can affect earnings under current rules.
- Use dApps. Apps in Pi Browser help build utility, and the network encourages such activity.
Mainnet Checklist: how to complete it and migrate
The Mainnet Checklist is a sequence of steps after which your balances from the mobile app are moved to the main blockchain:
- Install Pi Browser.
- Create a Pi Wallet.
- Confirm the wallet and link it to your account.
- Set up Lockup. Choose the portion and duration of your lock.
- Complete KYC. Verify your identity according to your jurisdiction’s requirements.
- Sign the Acknowledgement. Confirm receipt of tokens.
- Migrate. Move your balance to mainnet.
In 2024–2025, the Pi team sped up KYC and migration processing and removed technical blockers so that as many users as possible could enter the Open Network and use tokens within the ecosystem.
Security, tips, and common mistakes
- Don’t buy “Pi” from strangers. If you see offers to buy/sell Pi outside the official ecosystem, it’s almost certainly a scam.
- Be careful with IOUs and “PI price” on aggregators. Check the data source: it’s often an unofficial token/derivative not linked to your Pi balance.
- Don’t share your wallet’s private data. Store your seed phrase offline; never reveal it and don’t enter it on spoofed sites.
- One account per person. Multiple accounts can lead to sanctions and loss of earnings.
- Follow official channels. The team publishes news about maintenance, updates, and deadlines on official resources.
FAQ
In the Open Network, trading and quotes availability depends on the platform and region. Prices shown on some aggregators may refer to IOU/unofficial versions of “PI” and don’t reflect the status of your balance within the Pi ecosystem. Verify sources and follow the team’s announcements.
Whether you can transact depends on the ecosystem state in your region and on supported wallet/platform scenarios within the Open Network. Always check official instructions and statuses before taking any action.
The Pi app doesn’t use device resources for computations like PoW mining does, and consensus is based on SCP/FBA — an energy-efficient model. Make sure you download the app from official sources and follow basic security hygiene.
Yes, KYC is required to confirm that you’re a real person. In 2024–2025, KYC and migration deadlines were extended (the last time — to March 14, 2025, 08:00 UTC). Check current rules and windows in official channels.
These are participant roles. Pioneer is the basic user; Contributor adds trusted people; Ambassador invites new participants; Node runs a PC-based node and helps the network reach consensus.
Conclusions
Pi Network is an experiment in mass onboarding to the crypto economy via mobile “mining” without energy costs. In 2025 the project moved into the open stage, focusing on utility and scaling. Prospects depend on how fast the dApp ecosystem, partnerships, and infrastructure support grow. If you’re ready to treat Pi as a long-term project and carefully follow official updates, it makes sense to start today.
This is not investment advice. Cryptocurrencies are volatile; make decisions independently, considering your country’s laws and your personal risk tolerance.
