Exciting news, Pioneers! The Pi Network has unveiled a groundbreaking Lockup feature for Mainnet migrated Pi in your Pi Wallet. This new addition aims to enhance the ecosystem and incentivize long-term engagement.
Boost Your Mining Rate
By locking up your Pi, you can significantly boost your mining rate. This Lockup is immediately binding and remains so until your chosen duration ends. It’s a fantastic way to maximize your mining rewards while supporting the network.
Voluntary Lockups for a Healthy Ecosystem
Locking up your Mainnet Pi is a voluntary action, designed to support a healthy and smooth ecosystem. It encourages sustained engagement with the network, fostering a stable and growing community.
How to Lock Up Your Pi
If you’ve migrated to Mainnet, you can easily start a Lockup by following these steps:
- Open your Pi Wallet.
- Tap on “Lockups.”
- Select “Create New Lockup.”
Both types of Lockups—Pre-migration and New Lockup—follow the same rewards calculations and are irreversible once committed. However, they differ in the Pi affected and their implementation:
- Pre-migration Lockup: Boosts your current Pi based on future settings and affects Pi in the next migration.
- New Lockup Feature: Applies only to the Pi acquired on the Mainnet blockchain.
MUST READ BELOW PROVIDED SOURCES:
Key Differences
- Pre-migration Lockups are applied during the migration of your transferable balance.
- New Lockup directly locks up your Pi on the blockchain after your confirmation in the wallet.
The new feature also includes a 200% Lockup, which allows you to lock up 200% of the currently migrated amount. This is particularly advantageous for many Mainnet migrated Pioneers who have more Pi in their Mainnet wallet than they mined, making the 200% Lockup possible. By choosing to lock up this amount, you can maximize your Lockup mining rewards.
Note: Only the available balance can be locked.
Embrace this new feature to enhance your Pi experience and contribute to a thriving network!
