Towards the open mainnet migration of the Pi Network scheduled for the first quarter of 2025, users need to understand the important functions of Wallet P. This article provides a detailed explanation of how to use Wallet P and manage your Pi coins.

What is Pi Network?

Pi Network is a cryptocurrency project utilizing blockchain technology, characterized by easy mining using smartphones. Preparations for the open mainnet migration are currently underway, which is expected to make Pi coins widely tradable.

Basic Wallet Functions

Wallet is the official wallet for managing and trading Pi coins. Here are the main functions:

• Coin Transfer: Users who have completed KYC verification can move their unlocked Pi coins to their ‘Available Balance’. Transactions with other users are possible from this balance.
• Transaction Function: You can quickly and easily send and receive payments using QR codes or wallet addresses.
• Lockup Function: By locking up your Pi coins for a certain period, you can increase your mining rate.

Transactions via QR Code

When transacting using a QR code, click the ‘Scan’ button in the wallet, activate the camera, and read the code. This allows for quick sending and receiving.

Adding Wallet Addresses

You can also manually add wallet addresses. This makes transactions with new contacts smoother.

Pi Coin Lockup and Its Effects

In Wallet P, you can increase your mining rate by locking up your Pi coins for a certain period. You can choose from the following lockup periods:

• 2 Weeks
• 6 Months
• 1 Year
• 3 Years

The longer the lockup period, the greater the increase in the mining rate.

Recommended Lockup Settings

If you want to try trading immediately after the open network launches, a lockup period of about 1 year is recommended. This balances a moderate increase in mining rate with liquidity.

Summary

With the Pi Network’s open mainnet migration, understanding how to utilize Wallet P is extremely important. By leveraging transaction functions via QR codes and wallet addresses, and the lockup function, you can manage your Pi coins more efficiently and prepare for future value appreciation.

Let’s continue to check for the latest information and enjoy our activities on the Pi Network!