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- Pi Network has lowered its mining rate and is urging users to lock up their tokens, a move aimed at keeping the ecosystem stable.
- Lightyear pushed back on Pi Network’s latest updates, saying they seem focused on superficial content instead of actual progress.
On August 1, Pi Network implemented a notable change to its ecosystem by reducing its base mining rate by roughly 8%, dropping from 0.0030165 π/hour to 0.0027746 π/hour. This is the lowest mining rate the network has seen since its launch.
The adjustment is part of Pi Network’s ongoing efforts to manage token emissions responsibly and promote sustainable long-term participation from its growing user base.
In conjunction with this adjustment, the Pi Core Team reiterated the importance of its voluntary token lock-up feature. Users, referred to as “Pioneers,” can choose to commit a portion of their Pi holdings either during the pre-migration phase (before their accounts are moved to the mainnet) or after migration via the official Pi Wallet.
Locking up tokens offers users an opportunity to significantly boost their mining rewards, up to 200% for those willing to commit for longer periods. However, the Core Team emphasized that these lock-ups come with binding terms, meaning once tokens are locked, they cannot be withdrawn until the commitment period ends.
This dual approach, reducing the base mining rate while incentivizing long-term staking, is designed to encourage user loyalty.
Community Reaction & Timing
The announcement sparked discussion within the community. As noted by Pi community lead Woody Lightyear on X: “The Pi mining rate for August has fallen by 8% … from 0.0030165 to 0.0027746 π/h. Is this the all‑time low for the mining rate?”
For long-time Pioneers, these kinds of adjustments aren’t unexpected. Pi has been automatically reducing its mining rate every month since March 2022 as part of its declining exponential issuance model designed to balance token release with long-term scarcity.
This helps control inflation by slowing new token issuance, particularly important as token unlocks and circulating supply increase, while also aligning user incentives with the health of the network through voluntary lock-ups that can boost mining rewards.
Alongside this rate change, Pi rolled out an update to its wallet, adding TransFi as a new fiat on-ramp next to existing partners Banxa and Onramp Money, giving users safer and more straightforward purchase options compared to the risky peer-to-peer trades many relied on previously.
The update arrives as Onramp Money’s Pi integration faces delays, but excitement remains high, particularly after Crypto News Flash reported on new “Binance Connect” and “Binance P2P” options inside the wallet, features that have already fueled speculation that a long-anticipated major exchange listing might finally be on the horizon.
Market Outlook
Pi’s price has been feeling the pressure lately, with recent token unlocks and a dip in overall market activity adding to the turbulence. In mid-July, PI’s value slid by nearly 50%, driven in part by insider token sales and broader market volatility.
As of early August, it’s been hovering around $0.35 to $0.36, holding near multi-month lows after breaking below key support levels.
Technical charts are still showing $0.40 as a critical support level, with resistance sitting around $0.50–$0.52. The price dip has also stirred up activity, pushing trading volume up by 85% to about $167 million over the past day.
Looking ahead, August is shaping up to be another big month for supply, around 160,475,474 π tokens are set to unlock, with the single biggest release expected on August 16, when 8,467,112.54 tokens hit the market.
