Understanding Pi Token and Pi Network: A Comprehensive Guide

hello everyone um today I'm going to be talking about a token called Pi token and Pi network uh this is a token that

is a little bit closer to my heart because even before I started making this series in about blockchain in

2019 my very first content about blockchain um episode 00 as I called it later um was about py token I mean like

I explained about Bitcoin and the concept of Bitcoin in a generic video and in that token I talked about uh a

new token called as P token which was in its infancy in 2019 so that's kind of the birth of crypto in my channel I

would say so which is very closer to my heart so let's look at the content today so um the main topics that we're going

to cover is like I'm going to explain some history about py token uh for those people who have not watched my previous

videos and also the steps to convert uh your P token into usdt how can you transfer it to an exchange convert it

into usdd now that the main net is live and there are some uh frequently asked questions from Twitter and from the

YouTube comments I'm just going to quate all these questions I'm going to answer all of them in this video so first of

all this is one of the biggest free add drops in the history of crypto for literally spending $0 how people have

benefited getting like more than you know a lot of people have got more than ,000 a few of them have actually got

like $10,000 plus dollar as well so I'll explain how in this video so as as usual I'm not a financial adviser I'm not an

investment expert I'm just sharing all the things that I'm learning and that's why I make all this content you make

your own decisions based on your own research and never ever trust someone calls himself as a professional broker

or investment adviser because they're all frauds and they'll Target you for sending your money they'll even include

my name U do not fall for it your money you invest um and like I said um previously I I'm don't have any close

groups I don't have WhatsApp groups or telegram groups I'm publicly active in in Twitter and YouTube

so in X platform TT platform my handle is AD London so even about the P token for example I had posted like about on

Feb 23 itself like immediately after the main net token came out I posted a uh a Content about it so in Twitter I post in

English mostly and uh my if you if you're following the channel for English content mainly um sometimes it takes

time for me to make the English version of it but you can follow my X account where you can get these updates faster

because they're mostly done in in English and it's kind of similar content that I explained in the video but I just

post it in a more detailed expost so let's look at the history of py toen right so Pi uh was a free token

that we were able to mine from 2019 when I say mine it's basically a tap to ear so all you needed to do was download an

app on your mobile phone and every uh 24 hours once a day for just about you know 30 seconds just need to go into the app

and there is a start mining button and that will go on for 24 hours and so at that point of time I explained this in

2019 in one of my Thum videos U episode 00 I'll give you the link if you understand Tam you can watch that in

about 6 7 minutes I explained with a lot of hency saying at the moment there is no value for it I don't know if there'll

be value for it is what I said in 2019 but it's free and it's not you know taking up your your battery or it's the

storage it's just a tiny app that sits on your phone and you can click on it and you can mine it the concept is to

try and distribute the token to as many people as possible that was the attempt that they made in

2019 so when we started it in 2019 it was like 1 Pi token per hour um which reduced to about 0.5 token but you could

still get about know 10 to 12 Pi tokens without referring anyone and just you know just doing it on your own phone so

which is like you know if you had done it for even 1 year you could have had like 3,500 plus tokens so at a rate of

$1.6 which is the rate that it's going today this is like close to $4,500 $5,000 roughly for 3,500 tokens so just

one year of mining in 2019 could have gotten you nearly $5,000 for free without investing even $1 or one rupee

into the token so I'll explain what the the subsequent mining rates were in the video but pi as a token is like already

about $10 billion Market capital and $150 $150 billion fully dileted value and after I made this video P had gone

up to $2.9 and had come down so this is a phenomenal uh price range that even I did not expect and I'll also mention the

price range at the end of the video which I talked about in episode 52 if you if you listen to episode 52 um I

think I probably said that it would go up to maybe $1 uh and because I had compared it to xrp at that point of time

I'll talk about the price prediction as well uh for future price prediction as well at the end of the video now again

if you understand Tam you can watch this video where I had explained about the py token uh back in 2019 itself for about 6

minutes at the end of the video this is about mainly explaining about what is crypto what is bitcoin and history of

Bitcoin and I said this could be potentially it could be the next uh uh crypto token I didn't necessarily

compare it to bitcoin but I kind of gave an analog to bitcoin to say that this could be the next people's crypto

token and again in 2023 in my episode 52 when in January 2023 episode 52 I made both in English as well as in Tamil and

in this video I explained how to mine P tokens in very uh detail like how to you how can you download the app basically

there's a app called PI app and you can download it and you can use my I gave my referral code also in the video Anan

and you can you can start mining immediately so even in 2023 even if you had not done it in 2019 you could have

started 20123 and in that video I also uh shown demo of how to do kyc and how to prepare for the main net but even

then I said I don't know when the full mainnet will get launched even in episode 52 I kind of predicted saying

look at flare it's taken nearly 2 to 3 years so potentially P could also 2 to 3 years so exactly like I said back in

2023 January I said this and 2025 Feb is when pi main net open main net had launched so nearly 2 years later so it's

all about patience we've seen this time and again with all of the other blockchains this exactly what I said in

the episode 52 as well I also said that the rate of mining in episode 52 in 2023 was 02 Pi per hour

so it had come down significantly from the uh one Pi per hour5 per hour to 02 Pi per hour this is the rate even today

uh or maybe it is 01 Pi per hour I'm not so sure but you could have mined 48 Pi per day if you mine it for the whole day

24 hours so you could have made nearly half a p even in 2023 so even in 2023 January if you had started you could

have made about 175 Pi in 1 year which is close to in the last 2 years in 2023 and 2024 it will been close to 3505 that

itself is worth more than $500 so again there is a value in starting early which is what I keep

explaining in my channel but there is never a point where it is too late to start doing something uh in my opinion

so even in 2023 had you started you could have made about $500 at this point of time now even today you can start

Mining and you will get 01 Pi which equals to about 90 pi in an hour that even today's rate is still close to

about $1 $120 roughly and if the value of pi goes up this value could be even higher so

there is never um a late point to start something like this which is completely free now it might stop at some point of

time the free mining process but even today it is possible to download the PI app put the referral code and start the

mining process so I've given the links to that episode episode 52 if you want to see a demo of it I've given I'm not

going to do a demo in this video given the links to that episode you can go and watch it and you will see how to mine

the P token um and some of the comments from my episode 76 again people who started mining from 2019 or even started

late 2020 2021 you can kind of go and look at the comments from episode 7 to6 it's it's in YouTube most of these

comments are already there you know people have got 7,000 tokens 8,000 tokens which is roughly about $10,000

plus I know a lot of my friends who've done it who I had explained in 2019 and they were almost having like most of

them having above 5,000 tokens minimum who had all started from 2019 many people gave up like in the in the middle

people had stopped mining even probably I had stopped mining for um a few months few one year I didn't completely M I

didn't open the app at all so even I had done that but initial days I had mined it regularly on a daily basis so that's

the value of patience that's the value of doing something and believing in something uh especially when you don't

have to invest money in it it's just the time that was needed now if you have done the mining then you have till 14th

of March 2025 to do your kyc know your customer so there's a kyc process that I explained in episode 52 new slots are

opening up every day if you get a message like this saying for uh kyc verification slots are not available new

slots are getting open every single day most of my friends and family who started their kyc in the last last 2

weeks have all got their kyc completed in one or two days so if you are stuck in your kyc status or if it is just

showing that kyc is being stuck um you could go and actually uh go to your profile on P apppp click on the update

password change the password to a new password sign out and sign in again with your new password now make sure that you

note down your new password otherwise you know if you're trying to sign in and you don't have a password you might

again have to go through a password reset so sometimes when people people's kyc is showing as stuck for some reason

this hack like you know logging out and logging in kind of it's probibly a transient status and it shows that it

kyc has completed but even without this a lot of people I know have got their kyc fully

completed so um once your migration fully completes your status should show like this like you know the kyc result

should be completed migrate to mainnet should also completed but this probably the n9th step or the last step of

migrate to mind net will probably show as green only for people who have done the kyc back in 2023 itself like if you

watched my video in 2023 and done the kyc that time itself then that batch has already been migrated to mainnet if you

have only recently done the kyc in the last few days this could be pending and this could be showing up in Orange and

potentially I think after the kyc deadline passes 14th March 2025 that is when the second batch will probably run

and your kyc will probably uh your your tokens will get migrated to main net so you might see that your tokens are stuck

in the last step which is migrate to mainnet if you have only recently done the

kyc so um if your tokens are migrated to main net then you can log to Pi browser so I explained how you can install Pi

browser create a new wallet all of that I've explained in episode 52 so if you are watching this with without watching

episode 52 I strongly recommend that you watch that video at least for that 6 minutes where I explain the process of

installing Pi browser creating a new wallet making sure that you're noting down your secret phrase and everything

cuz if you skip it and you come into this video you will not understand anything so there was one or two

comments about like you haven't explained about the P browser I have already explained it in the previous

video in episode 52 so I'm not going to repeat everything so if you come into the P browser and if you're token status

is showing as migrated to main net you will see that um your tokens are either in the available balance or it might be

in the active lockups um so it'll be showing in the total balance but your available balance might be showing a 0

Pi so then click on lockups there there's a button called lockups if you click on lockups if you have selected

the 2E period instead of the threeyear period then you'll show it'll be showing up in your movable lockups so you can

select from there and say move to available balance if you have selected a longer lockup

period like I had done 50% as I explained in the in the 6 months and 50% explained in the 52 episode 52 so my

tokens uh 50% of my tokens will be locked up till 2025 uh June because that is when the 6 Monon uh lock up will end

so I can't Lo unlock till that point of time in June this will move to movable lockups and I can go and select it and

say move to the available balance so if you've locked it for three years then you don't have a choice here at the

moment you cannot you have to wait till it becomes movable lockup at that point of time so which is again one of the

points that I explained in my video in episode 52 now that you've done this it'll show up in your available balance

as this much Pi is available so this is the first step as part of your Pi browser to make sure that you've got

some available balance to trade or to move to a centralized exchange now you can go to any supported exchang there

about five supported exchanges I've I've shown it in the FAQ in the later part of this video I'm using mexe so I've also

given the uh referral Link in my description if you want to sign up if you not signed up for mexe especially if

you're in UK can go you can you cannot download the mobile app but you can on your mobile browser you can click on the

link go to a browser window and you can sign up as a new user in UK and you can do the whole process I I know people who

have been able to sign up in UK as a new user in UK also and in any other countries um but it could be restricted

in India but again you know there's a Geo restriction uh that is possibly there for some of these exchanges so you

probably need to use a different exchange so I'm using mexe and uh if you click on sign up and once you've signed

up uh if you go to your wallet and and spot um option you will see that there is a pie token showing up there so you

click on the pie token and the bottom of the pie token you will see there is a option called deposit so you click on

deposit and then it will show your Pi address now don't copy this from someone else because every person will have a

separate Pi address for them in mexe or in any centralized exchange so and make sure that the network is also showing a

pi Network for pi at the moment there's only Pi network available so copy this address and then come back to the pi

browser in the P browser click on the pay or request button so when you click on the pay or request button there will

be an option to say manually add your wallet address select this option and paste the mexe address or the address

that you've copied from there and first initially send about 10 pi tokens or maybe 5 Pi tokens and click on confirm

the transable succeed this is just to make sure that you actually able to transfer to your own wallet if by

mistake you copied the wrong wallet or you made a mistake in it's always best to transfer a smaller amount I'm verify

it is like transferring to a bank account right you know if you're transferring a large amount like 2 3 lak

rupes you'll probably transfer like 100 rupees ask them did you get it and then you'll transfer the rest same process

here so then when you come into your mxe or your centralized exchange you should see your Pi arriving in like you know in

for me it arrived in about less than 5 minutes then I can go in and I click on the trade button I can convert it into

usdt then you are able to immediately uh convert the whole thing or keep part of it and convert u a portion of it to USD

but that is how you can transfer from uh your Pi browser using the open m net onto a centralized

exchange and trade it there is no decentralized exchange available for pi at the moment there could be an app that

we be coming in the near future where uh bridging and uh trading can be enabled on a decentralized platform as well so

let's look at the frequently asked questions now so the most frequent question is like my Pi is stuck in

migrate to main it what will happen so like I said before right in my understanding there's only been one

batch of token migration that happened potentially in January and so uh of 2025 so if you have done the kyc from 2023 uh

based on my video or in the last 2 years then potentially your your migration would have been done and be showing as

green if you only done the kyc in the last um few days or few weeks or after that that first mate migration in

January then this step kyc completed but your still maget migration is pending so wait for it after the kyc deadline

passes 14th of March 2025 I think there will be the second batch of migration that will run which will bring all your

uh available tokens or transferable tokens it will bring it to the main net like what I have shown in my Pi browser

so just need to wait for a couple of weeks till the 14th of March 25 deadline I cannot guarantee that it will happen

at that point of time but it'll happen sometime after that point when the kyc deadline has passed and they're running

the second batch of migration I don't know exactly when the second batch of migration will happen the second

question is my kyc is not happening is getting stuck like I said I put a Twitter post as well the speed has

increased dramatically right now um a lot of people had been doing uh mining on duplicate phones or like duplicate

accounts or under 18s if it's duplicate then you will not pass a kyc if it's under 18 I think it'll just say that

your uh kyc is done and it's going to pause and it's probably going to um allow you to transfer after 18 I'm not

so sure I haven't done a kyc for an under 18 yet but legitimately if you've been

mining on one phone and if you had only one account and you started the kyc process most of them it has gone through

um I will also show how if you've already passed kyc how you can help other people by participating in the kyc

process I can I am now participating in the kyc process I'm like I am helping validate some of the other Pioneers with

a bit of guard rails with which py toen team have built so I'm actually helping speed up the kyc process for people who

are waiting for their kyc to get down so a decentralized kyc is happening which means it is actually going a lot faster

so in fact someone had posted today um or someone had posted uh on the the the pi uh app saying that um they passed

their kyc in 57 minutes back in March 2024 so a lot of people are are posting even today that their kycs are getting

passed very very quickly so I can even confirm someone in my own home was able to pass kyc in less than one day so this

if it doesn't happen after uh 20 uh after the 14th of March then it is a bit unfair that if you have participated in

it initiated your kyc and if it still doesn't happen then it's a bit unfair but if you've done it now uh in 95% of

the time it should get passed the other uh question is like you know once I said that you can do kyc for others and

they're like where do you do this so you go to the pi browser and then you see a kyc button there so if you click on it

you will see that there will be button called uh start validating and there will be a tutorial option there you can

take the tutorial it will tell you what you need to supposed to do so basically you are validating the photos of people

that are submitting whether the identity and the photo that they are submitting is matching liveliness checked whether

it's matching or not some people what they've done is they've recorded or taken a recording video recording of

somebody else and try to use that as a liveliness check so you can detect all these uh um false uh kyc attempts if it

looks legitimate you say it looks legitimate and it passes and I think they're doing like a uh crowd uh based

uh validation that if the majority says that it's pass they're taking it as a pass what other exchanges can use so

like I mentioned mexe so the approved uh KYB very ified businesses that p network has published they might have updated

this page is okx B bidget gate.io PX and mexe so these five exchanges you can go on uh safely trade safely deposit and

safely trade on it then the unverified balance this is probably one of the most asked questions so this unverified

balance a transfer balance is what you had mind on your phone um this is fully transferable um once your kyc is

complete so for sure you'll not lose it because it comes to transferable you will not lose it the unverified balance

is based on your referral team people you have referred and the security Circle that you had created now at the

moment it is saying that it's blanket saying that you will lose all your unverified balance if the people don't

do their kyc and so uh the the countdown timer is still 14th of March 2025 like I said you will lose all your pipe because

they've not done their um their kyc at this point of time so so um I don't think people will lose all of the

unverified balance because quite a few people have done their kyc even my some of my friends have done the mining

Circle they've done the kyc that screenshot is not mine by the way that's someone else's screenshot

so so what I'm expecting to happen is that part of it for people who have been doing it in multiple phones all the

duplicate ones or all of the ones that have not done kyc will get burnt but you will get probably a portion of those

from the people who would actively mined it if that was from those referrals and those mining Circle people that should

become transferable after the KY deadline passes is what I'm expecting and this is again March 14th is Pi Day

uh if you're wondering why it is called Pi Day Pi's mathematical value is 3.14 and it goes on so 3.14 is 14th of March

so March 14th is celebrated as the Pi Day by this Pi team uh and it's also by the pi followers so it's kind of you

know uh coinciding with that P day that is why they've keep they extended the uh the migration deadline and the kyc

deadline to 14th of March at this point of time and you will see this in the mobile app as well if you log

in so um uh one of the funnier questions I get is my P token have got locked for 3 years unexpectedly it's not unexpected

I mentioned it very very clearly in episode 52 if you pay close attention to the video saying that by default the

lockup settings go up to 3 years and I recommended saying that don't leave it as 3 years because then your tokens will

get logged up for 3 years reduce it to uh a smaller period the minimum that you can reduce it is 2 weeks and the minimum

that you can lock up is 25% so I said I'm going to lock up 50% for 6 months and you could have done varying degrees

of lock up but some people did not listen to that that 30 seconds of the video and they ended up locking it up

for 3 years years and they said that no I never knew that there was a lock up of 3 years and I don't know how it happened

but that is again paying enough attention to it this is a 15 20 minute process if you just spend time and and

be a little bit more careful you could have not you could have ended up not locking it for 3 years but it might be

beneficial on the longer run if Pi goes up to $50 $100 in 3 years then you might have actually it would have been a

blessing and disguise for you so uh it's a positive think about it as a positive scenario that it could go up again if it

doesn't go up that's the that's the problem but that is this is where you need to make sure that you're not um

going in doing something in haste listen to the video carefully listen to the instructions carefully and do it

properly next time if you're doing something especially related to blockchain or

crypto what could Pi's dollar value become this is a million dollar question so Pi had already gone up to

$2.9 it's now trading below $2 around $1.6 in my episode 52 I said uh the English version especially I said the

tokenomics resemble xrp because it's got 100 billion P tokens total Supply is 100 billion xrp's total Supply is also 100

billion so I said tokenomics only xrp so it could be above $1 range CU that was the value of xrp back then in 2023 now

xrp is itself is trading around $2.25 it had gone up beyond that as well so potentially that could have resulted in

in my opinion that could have resulted in pi token price because it's a comparable token 100 billion Supply uh

it's a comparable token and probably could have resulted in Pi's value being that much me I was surprised when it

went about $2 now two things can happen after March 14th what is going to happen after March

14th a lot of people who've done kyc in the last few days few weeks few months they will have their second batch

migration happen so lot of new P tokens transferable uh tokens will move to available balance and they will be uh

able to sell it like the process that I've explained so this could flood the market and uh depending upon the lockups

if some people had done threeyear lockup they won't be able to sell it but I'm expecting starting with a 2E minimum

lock up people will be selling gradually and so when a lot of these tokens are flooding the market and people are

selling it price could get down a little bit but on the other hand I'm expecting a lot of tokens to get burned because as

so many people will not be able to do their kyc especially for the fake accounts if people have done multiple

phones 9 10 accounts they might have had um or the underage people those tokens part of it could get burned or people

have just simply forgotten it those tokens could get burned and potentially could result in 50% Supply getting but

this is a hypothetical number if there is a large token burn event that could again uh attract some attention and

especially when large token burn events have happened for a token of this um available Supply or or uh theoretical

Supply because the supply is going down drastically uh the market Capital will probably kick in and the price impact

would mean that the price could go up so either of these things could happen I expect the price probably sustains

because of a compensation mechanism between the two options but slowly over a period of time this the tokens value

could go up because we have not yet seen the usage of main D apps have been start started uh we could potentially start

seeing dhabs um defi could kick in in the blockchain speed of blockchain would be a critical Factor uh we haven't seen

anything so far with regards to the speed of blockchain so all of this slowly will probably start adding value

to the blockchain at the moment it's in its infancy and if it's managed to achieve this value once the D5 actually

starts it could actually attract more value so that's my expectation so again try to answer

almost all of the quently ask questions hopefully this was useful to you uh if you did mind it and if you did get

benefit from my past video or 2023 video or my uh uh posts in Twitter uh please do post a small comment uh in this video

as well this is what I requested it just gives a bit of motivation when I'm making a video like this so until next

time thank you bye