680 Million Pi Network Coins Ready in Pioneer Wallets: Unveiling On-chain Locking Efficiency Strategy
By: Elena - As the Open Mainnet phase approaches, Pi Network has made significant strides in the distribution and utilization of its coins worldwide. Currently, approximately 680 million Pi coins are available for Pioneers to use in their wallets.
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Out of a total of 3.8 billion Pi coins that have been moved, about 2.6 billion coins remain locked since their initial transfer and have not been released. Among the unlocked coins, around 540 million coins have yet to be activated by Pioneers.
About 210 million Pi coins have remained unclaimed for over a year, indicating a potential loss of these coins from circulation. This highlights the challenges in managing distribution and active participation within the Pi Network ecosystem.
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One of the strategies being developed by Pi Network is on-chain locking, aimed at increasing mining efficiency by up to 200%. Through on-chain locking, the Pi Network system can capture more circulating coins through P2P transactions, encouraging Pioneers to secure additional Pi coins through P2P trading.
For instance, if a Pioneer receives 5,000 Pi from the initial movement, they can lock up to 10,000 Pi as an on-chain key, including the originally locked amount. This strategy not only enhances mining efficiency but also reduces the coin supply in the market, thereby boosting demand and overall ecosystem benefits.
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This strategy is expected to strongly enhance the utility of the Pi Network ecosystem, reinforcing the value of Pi coins in the global market. Therefore, the distribution of locked and unlocked coins will have a significant impact on market dynamics and the sustainability of the Pi Network ecosystem in the future.
With reinforced on-chain locking and P2P trading strategies, Pi Network is nearing the Open Mainnet phase with great potential to revolutionize the global adoption and usage of cryptocurrencies.
Source: JituMaster
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