MrNasdog
PPI · Pi Network
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MrNasdog Pressure Framework

PI · KYC migration overhang dominates the ledger.

100B max cap with ~10.59B circulating (10.59% unlocked). Last 90 days: ~1.58B PI flowed to market — ~1.24B from KYC migration unlocks plus ~340M ongoing mining emission. Buy side is structurally zero (no buyback, no fee burn, Foundation is a net seller). Net +14.92% last 90D — the heaviest sell pressure in our coverage. Next 90D tapers to +8.93% as migration decelerates.

Inflation
Last 90 Days
+14.92%
updated · Jun 4 2026
Net flow: 14.92% of supply goes to market over 90 days
Next 90 Days
+8.93%
estimate
Net flow: 8.93% of supply goes to market next 90 days
Supply growing · projected to keep growing
monitor gap · Foundation custody is OPAQUE (no publicly enumerated wallets for the 10B Foundation + 20B Core Team allocations). Sell #3 reads as untrackable; the framework net (+14.92%) and monitor (+14.36%) agree directionally but differ by ~0.56pp.
Sell pressure
1. Protocol inflation

Ongoing mining emission per the whitepaper's declining exponential model. Per-Pioneer base rate recomputed monthly; structurally decays as the network ages. Per 90D ≈ 246M (next), down from ~340M (last) under decay.

~246M PI
updated · Jun 4 2026
2. Vesting unlocks

KYC migration overhang: scheduled monthly mining unlocks as Pioneers complete KYC. Decelerating — ~16M of ~19M KYC'd Pioneers already migrated. Second Migration wave (Pi Day March 14, 2026) is referral-bonus only. Projected ~700M next 90D, down from ~1,240M last.

~700M PI
updated · Jun 4 2026
3. Foundation + unscheduled unlocks

Whitepaper claim: 10B Foundation + 20B Core Team allocations unlock proportionally to community mining pace, BUT no Foundation wallet is publicly enumerated. §0.45.3.4 enumeration is BLOCKED by opacity → effectively Tag C (untrackable). A permanent ⚠ caveat applies until Foundation transparency improves.

unknown PI
checked · May 30 2026
4. Long-term locked or bankruptcy

No bankruptcy estate.

0 PI
checked · May 30 2026
Buy pressure
1. Programmatic buyback

No protocol-revenue buyback mechanism.

0 PI
permanent · no change
2. Protocol fee burn

Pi transaction fees are nominal (~0.01 PI/tx); no aggregated burn-address disclosure. Buy #2 ≈ 0.

0 PI
permanent · no change
3. Foundation buy

Foundation is a net seller / disburser. No structural accumulation programme.

0 PI
permanent · no change
4. New long-term lock

Pioneer lockup programme (6mo / 1yr / 3yr bonus mining yield) removes free-float supply but aggregate locked supply is NOT publicly aggregated. Material but unquantifiable — Buy #4 stays 0 with a monitored caveat.

0 PI
checked · May 30 2026

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Algorithm check · raw inputs & outputs
 
Last 90D
Next 90D
Sell total (M PI)
1580.000
946.000
Buy total (M PI)
0.000
0.000
Sell % of circ
+14.920%
+8.933%
Buy % of circ
0.000%
0.000%
Inflation (sell − buy) %
+14.920%
+8.933%
Score (0–6)
0
0
Verdict
avoid
avoid
Circulating supply: 10590.000M PI · inflation = (sell − buy) / circulating × 100
Read the full Pressure Framework analysis
PI: KYC migration overhang dominates the ledger.
Long-form Metric 1 + 2 read. Foundation custody opacity flagged. ~5 min.

MrNasdog Pressure Framework analysis of PI, Metrics 1 & 2. Data + explanation only. Not financial advice. Updated May 27, 2026.