Pi Network Mining Rate Declines: The Formula Explained

Pi Network's mining rate has fallen this month - But what's behind the change? Here's an explanation of how Pi's reward issuance formula works in practice...

Summary:

Pi Network introduced the "Declining Rewards Issuance Formula" in March 2022 to manage mining rewards.

The formula maintains a monthly supply limit and adjusts the Base Mining Rate (B) accordingly.

This system aims to keep Pioneer mining rewards within the 65 billion Pi supply limit and offers a fair and stable user ecosystem.

Introduction

Pi Network introduced the “declining rewards issuance formula” on March 1, 2022. The formula defines a monthly supply limit, determining how the Base Mining Rate (B) is reduced.

Therefore, B remains constant monthly and is reduced based on the formula the following month. This means that B is adjusted/decreased at the beginning of every new month.

As part of the protocol’s plan to use the reward issuance formula, B was reduced on October 1, 2023. According to Pi News Media, B has reduced by 5.6% in October, from 0.0101105 to 0.0095401 Pi per hour.

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