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Pi Network Mainnet Is Coming: What Does It Mean And What To Expect?
It's been a couple of months since I last write and published an article about Pi Network but that doesn't mean I haven't been following the project anymore. In fact, I still love how the project is refining by following their roadmap. Though it's been taking so long compared to other projects, the Pi Network team is slowly delivering their project and now reaching to the phase where users are excited to reach - Mainnet!
But what does Mainnet mean?
Launching the Mainnet of Pi Network shows that the product that they have been working on for more than a year is now close to being ready to everyone to use and an acceptance for the foreseen adaptation in the real world.
When Mainnet is fully launched, everyone can see a record of the transactions happened in the Pi Network blockchain. People can trade cryptocurrencies in that blockchain (if Pi Network supports it). And most importantly, the mined Pi Coins will have it's own value that can already be traded to other currency.
But, since lots of people were hyped about the potential value of Pi and at the same time, some people were laughing that Pi is purely just another scam and trash project, this article will break what you have been expecting with your Pi coins when Mainnet is live.
The hype, or probably a fake news being spread in every social medias is that the price of each Pi will be $10, $100 and some even says $1,000 per Pi coin. I hate to tell this to you who expected so much with Pi's value that it is a possibility, but very unlikely. Pi could be over $100 in price but that would depends on its fundamentals and adaption.
But the very thing we really need to consider in knowing the possible price is Pi's supply and demands.
Right now, Pi Network has over 10 million users mining everyday in their app. If we get to an imaginary average of how much Pi's every user have, let's say 5,000 Pi coins, then do the math with its estimated current user, which is 10 million;
5,000 x 10 million =50,000,000,000
Or 50 Billion Pi coins as the current supply.
For Pi coin to reach $1.00 in price, it needs to have a market valuation of $50 Billion.
For it to to reach $10 in price, it needs to a have $500 billion market cap or valuation.
And to reach $100 per Pi coin, it needs to have $5 Trillion market valuation.
Those prices above could be unrealistic, but we don't know how Pi Network will give an impact in the real world. It could be, it could be not. Everything depends on how the project will deliver.
So if you want to know what the price of Pi will be, I can't say for sure. All I can say is that don't expect too much.
Mainnet launch is indeed the most awaited phase of the project for users who have been mining for so long. The Mainnet let users to get access to products in the Pi market that can be traded using their mined Pi coins.
Indeed a great event especially for users who mined a lot, but this feature is very limited for now.
Pi Network eventually choose an amount of numbers of their users to be given the opportunity to be KYC'ed and verified. Once KYC'ed and verified themselves in the app, the users can now have access to the market and can use its Pi coins - trade it as possible as they can.
However, like I mentioned, KYCs for users are only limited. The last time the project gave KYC opportunity was only for 200 members and right now, even myself are waiting for another opportunity to be KYCed.
Mainnet launch already took place but not totally live currently and only for testing phase. The team behind are working on alternate ways for users to be KYC'ed in the app. Let's just wait for the Mainnet to go fully live and make use of our Pi coins.