Hello crypto lover, today i am going to tell about a new crypto currency which name is Pi Network.

Probably most of crypto lover usually familiar with all of the crypto coin, i am not going tell about its history, if you are very interested just search on internet and YouTube and you will catch up lot of information about it. Pi Network is also decentralized token which mainnet is to be launched very soon as per their announcement.

Its very clear that Pi Network team is focused on the KYC and mined Pi will be distributed into two segment, one is your own mined balance that can easily add to your wallet after KYC verification completed and another is your referral earning or bonus mining. Your bonus mining will be held up and could not add to your wallet directly, if your referral is verified through KYC process then it will be add to your wallet as what you have rewarded for your referral mining bonus.

So, we can find that unverified mining Pi will not be added and may be lost after legitimate time duration and those who use to increase their mining rate will be just a number. Pi network is now pilot KYC project is ongoing and when they run their massive KYC adoption and after that mainnet is launched only then your Pi wallet could be found transferrable Pi network coin.

They also give an opportunity to increase your income by lock up your Pi balance for certain periods, and it seems like some other crypto stacking and rewarded, though its different name and time duration but process and procedure is the same thing. As mainnet is coming very soon and massive token will be in the market, so some control over the market circulation and market capitalization is being formed. Lock up is different way with your ratio and percentage with the slide bar and its indicate how much do you want to lockup with time duration. The more percentage and time you have chosen, the more you gain at end of lock up. The height passive return will be more than five hundred percentage with the lock up ratio is 100% for three years.

So another crypto currency is being very near about launching and all the pioneers are exited to see how it works in the market. Everyone is thinking about it that how much worth and value will be a Pi coin when it comes into the open market.

I am not a crypto expert or financial advisor, before stepping here please do your own research for investment, and invest in crypto always risky, minimise your own risk by without engaging this post of platform and any sort of liability form this blog.

Stay happy, stay smiling with your safe crypto currency.

I have just found from their Pi mobile app.

Mainnet Preparation

"To prepare the community for the Mainnet migration, we are releasing some mobile-app features related to Mainnet now, which gives time for the community to understand, ask questions and preselect settings before the Mainnet launch. One feature is displaying the breakdown of a Pioneer’s balance (e.g. balance mined by themselves), transferable balance to Mainnet and balance attributable to their team members. In addition, we’re also releasing another important feature that allows Pioneers to voluntarily lock up a portion of their transferable balances to mine at a higher rate later on. The lockup feature lets Pioneers preselect their voluntary lockup setting configurations that will apply to their Mainnet transfer after Mainnet launches and the Pioneer passes KYC.

To access these features, follow the directions below.

From the Pi home screen, tap on the ≡ icon in the upper left corner to open up the Pi sidebar menu.
Tap on “Mainnet.”
Learn about the various balances shown on the screen.
Tap on “Configure lockup rate” to preselect your setting.
From here, follow the in-app instructions.

How do lockups on Mainnet work?
At Mainnet, the lockup reward is meant to support a healthy and smooth ecosystem and incentivize long-term engagement with the network, while the network is bootstrapping the economy and creating demands. It is an important decentralized macroeconomic mechanism to moderate circulating supply in the market, especially in the early years of the open market when utilities are being created. One important goal of the Pi Network is to create a utility-based ecosystem of apps. Transactions for real goods and services in the ecosystem, rather than just speculative trading, are intended to determine the utility of Pi. As we launch the Enclosed Network phase of the Mainnet, which will be introduced soon, one of the main areas of focus will be to support and grow the Pi app developer community and nurture more Pi apps to grow. In the meantime, Pioneers can choose to lock up their Pi to help create a stable market environment for the ecosystem to mature and for more Pi apps to emerge and provide compelling use cases for spending Pi – to ultimately create organic demands through utilities.

The lockup feature will be active when we launch the early version of the Mainnet later this month, but you can take time to learn about and even preselect lockup configurations now before you are KYC’ed or ready to migrate to the Mainnet. You can decide to change your lockup configuration anytime you want as an overall account-wide setting in the Pi app.

As you and your earning team/security circle pass KYC and new mining occurs, more of your Mobile Balance will become transferable. At each transfer to Mainnet, these preselected settings of lockup duration and percentage will automatically apply to the amount of balance transferred, resulting in two types of balances on the Mainnet: lockup balance and free balance, both of which will be recorded on the Mainnet blockchain and reside in the Pioneer’s non-custodial Pi wallet. Lockups cannot be reversed once confirmed and must remain locked up for the entirety of the chosen duration due to the nature of blockchain.

As the lockup amount is accounted for by the percentage of your transferred balance, you will have to lock up the same percentage of the new transferred balance to maintain the same lockup mining boost. This is done easily by keeping your lockup configuration setting consistent for every recurring transfer to Mainnet. On the other hand, if you lock up a lower percentage of Pi in your later transfers as your initial Mainnet transfer, your lockup mining boost will decrease proportionally. If you make any changes to your account-wide lockup setting, the change will take effect on the next transfer of your balance to the Mainnet.

Please refer to the lockup feature interface in the app for a more detailed explanation on how the lockup works and is calculated. When we launch the early version of the Mainnet later this month, we will also release updated sections of the whitepaper. There, you will be able to see the precise and complete Mainnet formulae and mechanisms.