Sharlife has marked the project as permissible.

Pi Network is a social cryptocurrency, a developer platform, and an ecosystem designed for broad accessibility and practical use. It allows users to mine and transact with Pi through a user-friendly mobile interface while supporting applications built within its blockchain ecosystem.

Essentially, it is a simplified version of Bitcoin with additional features, such as:
– A commercial program for using the token in businesses to pay for goods and services;
– Its own browser;
– A user verification system.

The Pi App Incubator program supports community developers in creating and deploying applications that ultimately provide useful services to network participants and expand the ecosystem’s practical use.

Based on the information available on the website, no suspicious applications have been developed within the ecosystem so far. Therefore, at this time, there are no reasons to ban the buying/selling or mining of the Pi token. We will continue to monitor the project’s development.

There is no Proof of Stake consensus, the chain functions on Proof of Work protocol, which is “mining”. This is why any so called “staking” or other instrument with a fixed yield for this cryptocurrency is at least questionable, because it lacks participating in creating new blockchain transactions in the blockchain. You can read more about Proof-of-Stake protocol on our Blogs section below this crypto list. However, we are not talking about other pledge or liquidity tools that involves PI. Those tools will require separate analysis.