Pi Network has announced the updated version of its whitepaper focusing on MiCA, confirming full compliance with the European Union's Markets in Crypto-Assets regulations. This is an important step that provides the project with the opportunity to be traded in EU and EEA markets. The document states that Pi operates on its own Layer-1 blockchain, using Stellar Consensus Protocol and Federated Byzantine Agreement to optimize performance and save energy.
The project confirms that it does not conduct an ICO; all Pi is distributed through mobile mining and community contributions. The total supply of Pi is fixed at 100 billion, of which 8.2 billion is in circulation. The network emphasizes non-custodial wallets controlled by users and a strict KYC/KYB process. Pi tokens are intended solely for payment purposes. With compliance with MiCA, Pi is aiming for listing on regulated European exchanges.
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