New mining Pi Network On December 28, 2021, we launched the Mainnet along with new chapters of the updated Pi white paper (December Whitepaper). One chapter, “Token Model and Mining”, communicated Pi’s supply model, new mining mechanism, and mining rewards within the supply limit. Please use the December Whitepaper linked on the home screen as a reference for the following announcement. As stated in the December Whitepaper, the supply for mining rewards is 65 Billion Pi, which includes rewards Pioneers have mined in the pre-Mainnet phase and rewards for future mining through the new mining mechanism. The new mining mechanism is meant to incentivize more types and amounts of contributions from Pioneers to the network necessary for its Mainnet phase. The network rewards issuance going forward and supply limits of a given time period will be based on a declining formula ( rewards issuance formula ). The Core Team has been working on the rewards issuance formula through e...
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