# minepi

$PI is starting to look like a case study in hype outrunning execution. After years of “mining,” referrals, KYC delays, and shifting timelines, holders are still waiting on the basics: clear tokenomics, real liquidity, and a use case that extends beyond its own ecosystem. A large user base doesn’t equal value if users can’t freely transact or exit.
Vague promises of future utility aren’t a substitute for transparent supply, open markets, and verifiable demand. Community enthusiasm can only carry a project so far before reality sets in. Until $Pi delivers independent price discovery and real-w