**2022.11月基礎挖礦速率及歷月變化：**

**中文翻譯：**

各位先鋒請記得在2022.11.1 (台灣時間10/2)，又要到了每個月一次的基礎挖礦速率調整，此速率調整是根據2022年3月(同年3.14生效)所釋出的獎勵公式所計算而來。新的挖礦機制可以讓先鋒透過**各種不同的方法**得以加速他們個人的挖礦速率，包括Pi鎖倉、App的使用、架設節點、安全圈設置以及推廣。點擊"Read More"(閱讀更多)以了解更多細節，或是現在趕緊點擊"Boost Mining Rate"，來加速您的挖礦速度!

**Read More中文重點：**

**1.** 各位先鋒可以至Pi Network**白皮書(中文版)**查看**2021.12.1**發行的新章節：**代幣模型和挖礦章節**中描述到Pi的供應模型、新的挖礦機制，和新的獎勵機制。

**2.** **2022.3.1**正式實行**基礎速率(Base rate) (B)**的調整，並且調整為每個月降速一次，本來是計畫隨著更短的時間進行調整，如天或小時、分等，為了計算及呈現方便，故更改為每個月調整一次。

**4.** **基礎速率(Base rate) (B)**的調整是根據上個月先鋒的**活躍程度**以及**剩餘的幣量**(發給先鋒的幣量為650億顆Pi供應，總供應量為1,000億顆)來進行運算，活躍先鋒目前已知的定義為連續三天都有點亮閃電的用戶，只要上個月比上上個月的活躍人數更多，則基礎速率會進行**調降**，反之則**調升** (目前為止還沒遇過調升)，且該基礎速率一旦在月初確認，直至下個月的調整前都不會改變。如果剩餘還能給先鋒挖礦的Pi幣數量為350億顆，那公式呈現會如下所示：

**supply_limits(expressed in Pi/day) = exp (-last_day_total_mining_rewards / 1220) • 35,000,000,000**

**5. 如何提高挖礦速率：**

整理於文章：**如何增加Pi的挖礦速率**

**6. 為什麼要調整挖礦速率?**

加密貨幣的其中一個特性為**有限的供應**(限定發行總量)，例如Pi Network的總量為1,000億顆，為了讓Pi幣的挖掘隨著生態的發展而逐漸遞減，使Pi具有稀缺或是針對市場、先鋒參與的不同、多寡而進行的調整。

**原文：**

@PiCoreTeam Nov 1st - 1:41am

Remember that on November 1st, 2022, the base mining rate will adjust again as part of its monthly adjustment based on the rewards issuance formula released in March 2022 (effective March 14). The new mining mechanism enables Pioneers to boost their individual mining rate through diverse contributions, including Pi Lockups, App usage, Node operations, security circles, and referrals. “Read More” for details, or “Boost Mining Rate” now!

**Read More原文：** On December 28, 2021, we launched the Mainnet along with newchapters of the updated Pi white paper (December Whitepaper). One chapter,

“Token Model and Mining”, described Pi’s supply model, new mining mechanism,

and mining rewards within the supply limit. Please use the December Whitepaper

linked here as a reference for the following details.

On March 1,2022, the declining rewards issuance formula took effect. In particular, the

systemwide base mining rate (B) was reduced based on a monthly supply limit

defined by the formula, which is described in the following sections. B stays

constant for a month and then gets adjusted every following month based on the

formula. On March 14, 2022, the new mining mechanism, which includes new

rewards specified in the December Whitepaper, took effect. Pioneers are now

able to increase their individual mining rate by making newer, more diverse

types of contributions to the network via Pi lockup, app usage, and node

operations.

Based onthe rewards issuance formula, the base mining rate (B) will drop again on

October 1st, according to the plan.This new B will take effect when a Pioneer

launches their first new mining session in October and will stay constant

throughout the month. Below are more details, announced on March 1st, about the

rewards issuance formula, how B is calculated, and what Pioneers can do to

increase their individual mining rate.

**New MiningRate and Rewards Issuance Formula**

The firstversion of the Rewards Issuance Formula was announced March 1st 2022 —the

declining exponential function described below—whereby in combination with

mining activities, the systemwide base mining rate (B) is reduced based on a

monthly supply limit determined by the formula. The monthly decrease in B

occurs on the first day of each new month and remains constant through the end

of that month. B will continue to be adjusted based on the formula and decrease

on a monthly basis in the future. Note that the new base mining rate will take

effect upon the start of each Pioneer’s first new mining session of the month.

Thisformula intends to ensure that Pioneer mining rewards are within the total

supply limit of 65 billion allocated for mining rewards as announced in the

December Whitepaper. This declining exponential function along with the new

mining mechanism balances the network’s need for growth, accessibility,

longevity, and scarcity. Additionally, it right-sizes the Pioneers’ rewards for

contribution to the network.

Even thoughB is reduced, Pioneers now have many more avenues to make other types of

contributions to the network and boost their individual mining rates. This, in

fact, is one of the purposes of the new mining mechanism. On March 14 (Pi day),

2022, the new mining mechanism took effect along with the new types of rewards:

lockup, app usage, and node operation—as specified by their respective formulae

in the December Whitepaper.

Together,the first version of the declining network rewards issuance formula and the new

mining mechanism mark a major advancement in the development of Pi Network’s

Token Model and Mining design during the Mainnet phase. These incremental steps

further exemplify how the Enclosed Mainnet period offers the network opportunities

to iterate on specific formulae based on ongoing findings as well as token

modeling and simulations.

Please notethat the declining exponential formula below is the first version of the

Rewards Issuance Formula, as it is impossible to precisely predict the future

data on Mainnet and from new mining. This first version was designed based on

past data, simulations and best assumptions, such as the 35 billion remaining

supply for future mining rewards, Pioneer lockups and overall ecosystem

factors. For example, the 35 billion remaining Pi is estimated based on the

currently available data about real Pioneers’ mobile balances. A more accurate

figure will be determined by the speed of network KYC and how much Pi is

migrated to the Mainnet in the future. Further data and continual simulations

will help assess such underlying assumptions in the rewards issuance formula,

and thus, may lead to the formula’s adjustment in line with the network’s

objectives as explained above.

supply_limits(expressed in Pi/day) = exp (-last_day_total_mining_rewards / 1220) •

35,000,000,000, where

supply_limitsare the output of this formula that allocates a specific amount of Pi to each

day for the indefinite time while making sure the total future issuance will

not exceed the remaining available supply,

last_day_total_mining_rewardsis equal to the total Pi mining rewards issued on the previous day,

1220 is atuning factor to be further tuned over the coming months, and

35 billionis the estimated number of Pi available for Pioneers to mine going forward.

**How is theMonthly B calculated?**

TheDecember Whitepaper stated that the systemwide base mining rate (B) will be

dynamically adjusted to keep the mining rewards issuance within supply limits

for a certain period of time. The time period could be yearly, monthly, daily,

hourly, or even more granular. For simplicity, we are starting the dynamic B on

a monthly basis, meaning that B will stay constant for a month and will be

adjusted based on the rewards issuance formula and the network’s mining

activities at the end of each month. Starting with a B that stays constant for

a month helps Pioneers understand the implications of 1) new supply limits, 2)

the new mining mechanism with new rewards, and 3) a more dynamic nature of B

(potentially in the future) one at a time, given that these concepts are

complex and all have an effect on Pioneers’ mining rewards. At the same time, a

monthly period is short enough to correct any potential over- or under-issuance

of Pi deviating from the rewards issuance formula while B is stable long enough

for Pioneers to follow along and adjust their contributions to the network to

mine for rewards.

Eachmonth’s B is calculated based on the supply limit for the month based on this

formula and the sum of all reward coefficients of all active Pioneers from the

last day of the previous month. This B stays constant through the month and

updates again on the first day of the next month. This adjustment of B occurs

each month.

Morespecifically, the value of B for a given month is calculated by summing up the

daily supply_limits for the month from the above rewards issuance formula and

dividing it by the number of days in the month for even daily allocation within

the month and dividing it again by the sum of coefficients of mining rewards of

all active Pioneers of the last day of the previous month—including their

multiples of Referral Team, Security Circle, Pi Lockup, App usage, and Node

Operation rewards (Please refer to December Whitepaper: Section: Mainnet Mining

Formula to understand how to calculate B). Similar iterations occur each month.

When Bstays constant in a month, the total number of Pi actually mined every month

varies with the total number of actively mining Pioneers and the contributions

they make in that month. At the end of the month, the total number of Pi

actually mined will be compared with the number initially projected by the

formula. Any deviation between the two numbers each month will lead to a

further adjustment on the remaining Pi supply, across the remaining indefinite

mining period, along with any other types of adjustments explained above, e.g.

the assumed 35 billion remaining mining rewards supply.

As such,the monthly B can potentially cause an overissuance of Pi when there is an

unexpected increase in the number of Pioneers and their mining rates, leading

to a deviation from the rewards issuance formula. If such deviation on a

monthly basis is constantly large, the network can move to a more dynamic

version of the B model where the monthly issuance of Pi remains constant but B

gets adjusted on a more granular time epoch basis. The shorter the time period

for adjusting B to follow the formula, the less is the potential for over- or

under-issuance against the targeted supply limits, and the less is the chance

for deviation from the formula over that period. More data on Mainnet and the

new mining mechanism will help examine the efficacy of the current monthly

dynamic B and determine if a more dynamic version B is necessary.

**How CanPioneers Mine More Pi?**

Althoughthe base mining rate may drop, Pioneers have multiple ways to increase their

individual mining rate, accentuating the importance of making more

contributions to the network. In addition to mining everyday, you can boost

your individual mining rate by:

completingyour Security Circle to maximize Security Circle rewards,

invitingyour friends to mine Pi to increase Referral Team rewards,

remindingyour existing Referral Team to mine,

setting andcommiting to a lockup configuration or increasing your current lockup

commitment,

engagingwith the apps on the Pi Browser directory to increase App Usage rewards, and

running aNode on the Testnet to increase Node Rewards.

Pleaserefer to the December Whitepaper to understand different reward formulas. And

keep in mind that, as mentioned in the December Whitepaper, all formulas of new

mining are subject to some tuning.

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