Official Sources — verified

All quotes below are transcribed verbatim from Pi Network / Stellar official documentation. Third-party mirrors, blog posts and aggregators are not used as sources anywhere in this repository.

0. Version pinning — the exact revision of every source used

Links rot and pages change silently, so each source is pinned as tightly as its form allows. All were retrieved and cross-checked on 2026-10-18.

The API is listed as a source on purpose. Four of the claims here are measured, not quoted, and the measurement is the primary evidence.

S1 — Pi Network: the Maximum Supply and its allocations

🔗 https://minepi.com/blog/mainnet-migrations-roadmap-and-tokenomics/ Published 2025-04-17 by Pi Network.

“The Maximum Supply of Pi is 100 billion tokens. The Maximum Supply is comprised of the following: 65 Billion tokens (or 65%) are allocated for all community mining rewards; 10 billion (10%) are allocated for foundation reserves; 5 billion (5%) are allocated for liquidity purposes; and 20 billion (20%) are allocated for the Core Team. Each allocation mentioned above tracks the community Migrated Mining Rewards issuance pace, so the proportions of each allocation in the total supply remains the same at any given time.”

And, in the same paragraph group — the sentence that pre-empts the most common objection:

“This remains true despite the fact that all tokens were minted at the genesis as technically required by the blockchain protocol.”

This is the single most important quote in this repository. Pi discloses, in its own words, that the full 100 billion π existed at genesis. That is not a leak and not a discovery — it is a documented property of the supply model.

S2 — Pi Network: the Whitepaper

🔗 https://minepi.com/white-paper/ — Mainnet chapter, version dated 2021-12-28.

On the cap:

“Hence, given the current network size of over 30 million Pioneers and the expected volume of transactions and activities in the future, the Mainnet supply model has a clear maximum total supply of 100 billion Pi allowing incentivizations of continued growth and new contributions while removing the concerns about the unpredictability of the supply.”

On the distribution principle:

“Thus, given a total max supply of 100 billion Pi, the community will eventually receive 80 billion Pi and the Core Team will eventually receive 20 billion Pi.”

On the pre-Mainnet state (why “undefined supply” was the status quo ante):

“The option to cap the supply of Pi was not exercised before Mainnet, therefore leaving the total supply undefined.”

On the pre-mint at genesis:

“In other words, the livenet will pre-mint in its genesis block all account holder balances generated during Phase 1, and continue operating just like the current system but fully decentralized.”

And the sentence that sets the honest upper bound on this repository’s claim:

“Also, in the future, for the health of the network and ecosystem, the network may face questions such as whether there needs to be any inflation after the completion of the distribution of the 100 Billion Pi. The inflation may be necessary to further incentivize contributions through more mining rewards, make up for any loss of Pi from circulation due to accidents or death, provide for more liquidity, mitigate hoarding that inhibits usage and utility creation, etc. At that time, the foundation and its committees specialized in these matters will organize and guide the community to reach a conclusion on the matter in a decentralized way.”

⚠️ Read that last paragraph carefully. Pi reserves the right to consider future inflation, to be decided by the community. This is exactly why the claim here is worded as a statement about the observable present — “every ledger header examined” — and not as “the supply can never change”. See docs/FAQ-FUTURE-INFLATION.md.

S3 — Stellar Docs: what the ledger-header fields mean

🔗 https://developers.stellar.org/docs/learn/fundamentals/stellar-data-structures/ledgers Page updated 2026-05-27 by Justin Rice.

“Total coins — Total number of lumens in existence.”

“Fee pool — Number of lumens that have been paid in fees. Note this is denominated in lumens, even though a transaction’s fee field is in stroops.”

“Inflation sequence — Number of times inflation has been run. Note: the inflation operation was deprecated when validators voted to upgrade the network to Protocol 12 on 10/28/2019. Therefore, inflation no longer runs, so this sequence number no longer changes.”

These three definitions are what make the measurement meaningful:

• total_coins is defined as a stock (“in existence”), not a flow.
• fee_pool is separate from total_coins — fees are a sink, not issuance. See docs/FAQ-FEE-POOL.md.
• inflation sequence is the issuance counter, and the documentation states plainly that it no longer changes because the mechanism is gone.

Note on naming: Stellar’s documentation describes lumen (XLM) because that is the reference implementation. Pi Mainnet runs the same ledger-header structure; the field it reports as total_coins is this one, and examples/xdr-header.mjs decodes it from the wire bytes.

S4 — The chain itself (measured, not quoted)

The public Pi Mainnet API, https://api.mainnet.minepi.com, read-only (GET only).

Reproduce all of it with:

node examples/run-all.mjs

S5 — What the primary sources do not say

Recorded so that nobody can attribute a stronger claim to this repository than the sources support:

S6 — Unofficial or secondary material (explicitly not relied on)

For completeness, the following classes of source are not used as evidence anywhere here:

• exchanges, price aggregators, and “supply” dashboards (they report circulating figures, defined by the reporter, and change their methodology silently);
• social-media posts, including from Pi Network accounts;
• forks, mirrors and third-party copies of Pi’s documentation;
• this repository’s own prose.

If a claim here cannot be traced to S1–S4, treat it as out of scope.