The Pi Economic Model
Pi经济模型
Pi, on the other hand, seeks to strike a balance between creating a sense of scarcity for Pi, while still ensuring that a large amount does not accumulate into a very small number of hands. We want to make sure our users earn more Pi as they make contributions to the network. Pi s goal is to build an economic model that is sophisticated enough to achieve and balance these priorities while remaining intuitive enough for people to use.
另一方面，Pi系统试图在为Pi币创造稀缺感的同时，确保大量的Pi币不会积累到极少数人的手中，找到一种平衡。我们希望确保我们的用户在为网络做贡献时能获得更多的Pi币。的目标是建立一个足够复杂的经济模型来实现和平衡这些优先事项，同时保持足够的直观性以供人们使用。
Pi s economic model design requirements:
Pi的经济模型设计要求:
• Simple: Build an intuitive and transparent model
• 简单:建立一个直观和透明的模型
• Fair distribution: Give a critical mass of the world s population access to Pi
• 公平分配:让世界上足够多的人接触到Pi
• Scarcity: Create a sense of scarcity to sustain Pi s price over time
• 稀缺性:创造一种稀缺感来维持Pi的价格而不随时间的推移而贬值
• Meritocratic earning: Reward contributions to build and sustain the network
• 精英收入:奖励建立和维持网络的贡献
Pi - Token Supply
Pi-令牌供应
Token Emission Policy
通证释放政策
Total Max Supply（最大供应量） = M + R + D• M = total mining rewards（挖矿奖励总额）• R = total referral rewards（推荐奖励总额）• D = total developer rewards（开发者奖励总额）M = ∫ f§ dx,where f is a logarithmically declining function.(其中f是对数递减函数。)• P = Population number (e.g., 1st person to join, 2nd person to join, etc.)• P = 人口数(例如，第一个参加者，第二个参加者，等等)R = r * M• r = referral rate (50% total or 25% for both referrer and referee)• r = 转送率(总转介率为50%，推荐人和裁判人均为25%)D = t * (M + R)t = developer reward rate开发者奖励率 (25%)
M - Mining Supply (Based on fixed mining supply minted per person)
挖矿供应(以每人固定挖矿供应为基础)
In contrast to Bitcoin which created a fixed supply of coins for the entire global population, Pi creates a fixed supply of Pi for each person that joins the network up to the first 100 Million participants. In other words, for each person that joins the Pi Network, a fixed amount of Pi is pre-minted. This supply is then released over the lifetime of that member based on their level of engagement and contribution to network security. The supply is released using an exponentially decreasing function similar to Bitcoin s over the member s lifetime.
与为全球人口提供固定货币供应的比特币不同，Pi为每个加入网络的人提供固定的Pi值，直到第一个1亿个参与者。换句话说，对于每个加入Pi网络的人，都预先生成一个固定数量的Pi币。然后，根据该成员的参与程度和对网络安全的贡献，在其生命周期内释放此供应。在用户的生命周期中，这些供给使用一个类似于比特币的指数递减函数来释放。
R - Referral Supply (Based on fixed referral reward minted per person and shared b/w referrer and referee)
推荐供应(基于固定的推荐奖励于每个人和共享的基础及共享的推荐人和裁决人奖励)
In order for a currency to have value, it must be widely distributed. To incentivize this goal, the protocol also generates a fixed amount of Pi that serves as a referral bonus for both the referrer and the referee (or both parent and offspring This shared pool can be mined by both parties over their lifetime - when both parties are actively mining. Both referrer and referee are able to draw upon this pool in order to avoid exploitative models where referrers are able to "prey" on their referees. The referral bonus serves as a network-level incentive to grow the Pi Network while also incentivizing engagement among members in actively securing the network.
为了使一种货币具有价值，它必须被广泛分发。为了激励这个目标，协议还产生了一个固定数量的Pi币，作为推荐者和被推荐者(譬如父母和子女)的推荐奖励:当双方都在积极挖掘时，这个共享池可以由双方共存他们的毕生挖矿奖励。推荐人和裁决人都可以利用这个矿池，以避免裁决人会"剥夺"他们的裁决人模式。推荐奖励作为网络层面的激励，促进Pi网络的发展，同时也激励会员积极参与网络安全。
D - Developer Reward Supply (Additional Pi minted to support ongoing development)
D-开发人员奖励补给(为支持正在进行的开发而产生的额外Pi币)
Pi will fund its ongoing development with a "Developer Reward" that is minted alongside each coin that is minted for mining and referrals. Traditionally, cryptocurrency protocols have minted a fixed amount of supply that is immediately placed into treasury. Because Pi s total supply is dependent on the number of members in the network, Pi progressively mints its developer reward as the network scales. The progressive minting of Pi s developer reward is meant to align the incentives of Pi s contributors with the overall health of the network.
Pi将确保"开发者奖励"的每个Pi币是挖矿及推荐产生的。传统观念上，加密货币协议已经确定了一个固定数量的币供应，就放入中心库。由于Pi的总供应量取决于网络中的成员数量，因此随着网络规模的扩大，Pi逐渐减少了对开发者的奖励。对Pi开发者的奖励的逐步增加是为了使Pi的贡献者的激励与整个网络的健康状况保持一致。
f is a logarithmically decreasing function - early members earn more
F是一个对数递减函数-早期成员赚得更多
While Pi seeks to avoid extreme concentrations of wealth, the network also seeks to reward earlier members and their contributions with a relatively larger share of Pi. When networks such as Pi are in their early days, they tend to provide a lower utility to participants. For example, imagine having the very first telephone in the world. It would be a great technological innovation but not extremely useful. However, as more people acquire telephones, each telephone holder gets more utility out of the network. In order to reward people that come to the network early, Pi s individual mining reward and referral rewards decrease as a function of the number of people in the network. In other words, there is a certain amount of Pi that is reserved for each "slot" in the Pi Network.
虽然Pi试图避免财富过度集中，但该网络也试图以相对较大的比例奖励早期成员和他们的贡献。当像Pi这样的网络处于早期阶段时，它们倾向于为参与者提供较低的效用。例如，想象一下世界上第一部电话。这将是一个伟大的技术创新，但不是非常有用。然而，随着越来越多的人拥有了电话，每个电话持有者从网络中获得了更多的实用性。为了奖励那些早早来到网络的人，Pi的个人挖矿奖励和推荐奖励随着网络中人数的增加而减少。换句话说，有一定数量的Pi是留个"席位"存在于Pi网络之中。
Utility: Pooling and monetizing our time online
实用性:在线时间的汇集和货币化
Today, everyone is sitting on a veritable treasure trove of untapped resources. Each of spend hours day on our phones. While on our phones, each of our views, posts or clicks creates extraordinary profits for large corporations. At Pi, we believe that people have the right to capture value created from their resources.
今天，每个人都坐在一个名副其实的未开发资源宝库上。每个人每天花几个小时在我们的手机上。在我们的手机上，我们的每一个观点、帖子和点击都为大公司创造了非凡的利润。在Pi网络中，我们相信人们有权利从他们的资源中获取价值。
We all know that we can do more together than we can alone. On today s web, massive corporations like Google, Amazon, Facebook have immense leverage against individual consumers. As a result, they are able to capture the lionshare of value created by individual consumers on the web. Pi levels the playing field by allowing its members to pool their collective resources so they can get a share of the value that they create.
我们都知道，我们一起能做的比我们单独能做的更多。在今天的互联网上，像谷歌、亚马逊、Facebook这样的大公司对个人消费者有着巨大的影响力。因此，他们能够抓住个人消费者在网络上创造的巨大价值份额。通过允许其成员共享他们的集体资源，这样他们就可以获得他们创造的价值的一部分，从而平衡了竞争环境。
The graphic below is the Pi Stack, where we see particularly promising opportunities for helping our members capture value. Below, we go into each of these areas in more detail.
下面的图表是Pi堆栈，在这里我们看到了帮助我们的成员获取价值的特别有前途的机会。下面，我们将更详细地介绍这些领域中的每一部分。
Introducing the Pi Stack - Unleashing underutilized resources
介绍Pi堆栈-释放未充分利用的资源
Pi Ledger And Shared Trust Graph - Scaling Trust Across The Web
Pi分类账和共享信任图——跨Web扩展信任
One of the biggest challenges on the internet is knowing who to trust. Today, we rely on the rating systems of providers such as Amazon, eBay, Yelp, to know who we can transact with on the internet. Despite the fact that we, customers, do the hard work of rating and reviewing our peers, these internet intermediaries capture the lionshare of the value created this work.
互联网上最大的挑战之一就是知道该信任谁。今天，我们依赖于诸如亚马逊、eBay、Yelp等供应商的评级系统来了解我们可以在互联网上与谁进行交易。尽管我们这些客户做着评级和审查同行的艰苦工作，但这些互联网中介机构捕捉到了创造这项工作的巨大价值份额。
Pi s consensus algorithm, described above, creates a native trust layer that scales trust on the web without intermediaries. While the value of just one individual s Security Circle is small, the aggregate of our individual security circles build a global "trust graph" that help people understand who on the Pi Network can be trusted. The Pi Network s global trust graph will facilitate transactions between strangers that would not have otherwise been possible. Pi s native currency, in turn, allows everyone who contributes to the security of the network to capture a share of the value they have helped create.
上面描述的Pi一致性算法创建了一个本地信任层，可以在没有中介的情况下衡量网络上的信任度。虽然仅仅一个人的安全圈的价值很小，但是我们个人安全圈的总和可以建立一个全局的"信任图"，帮助人们了解Pi网络上的哪些人可以信任。网络的全球信任图将为陌生人之间的交易提供便利，否则这是不可能的。的本地货币，反过来，允许每个贡献于网络安全的人捕获他们帮助创造的价值的一部分。
Pi s Attention Marketplace - Bartering Unutilized Attention And Time
Pi关注的市场-未被开发的关注与时间的交互
Pi allows its members to pool their collective attention to create an attention market much more valuable than any individual s attention alone. The first application built on this layer will be a scarce social media channel currently hosted on the home screen of the application. You can think of the scarce social media channel as Instagram with one global post at a time. Pioneers can wager Pi to engage the attention of other members of the network, by sharing content (e.g., text, images, videos) or asking questions that seek to tap into the collective wisdom of the community. On the Pi Network, everyone has the opportunity to be an influencer or to tap into the wisdom of the crowd. To date, Pi s Core Team has been using this channel to poll the community s opinion on design choices for Pi (e.g. the community voted on the design and colors of the Pi logo.) We have received many valuable responses and feedback from the community on the project. One possible future direction is to open the attention market for any Pioneer to use Pi to post their content, while expanding the number of channels hosted on the Pi Network.
允许其成员集中他们的注意力创造一个比个人关注更有价值的市场。建立在这一层上的第一个应用程序将是目前托管在应用程序主界面上的一个稀缺的社会媒体频道。你可以把稀缺的社交媒体频道想象成一次发布一个全球帖子的Instagram。先锋们可以用Pi换取其它Pi网络用户的关注，通过分享内容(比如文本、图片、视频)或者提问来挖掘社区的集体智慧，从而吸引网络上其他成员的注意力。在Pi网络，每个人都有机会成为一个影响者或挖掘群众的能人。迄今为止，Pi的核心团队一直在使用这个渠道来调查社区对Pi设计选择的意见(例如，社区对Pi标志的设计和颜色进行了投票。)我们收到了社区对这个项目的许多有价值的回应和反馈。一个可能的未来方向是开放关注市场，任何先锋使用Pi发布他们的内容，同时扩大在Pi网络中的影响力。
In addition to bartering attention with their peers, Pioneers may also opt into bartering with companies that are seeking their attention. The average American sees between 4,000 and 10,000 ads a day. Companies fight for our attention and pay tremendous amounts of money for it. But we, the customers, receive no value from these transactions. In Pi s attention marketplace, companies seeking to reach Pioneers will have to compensate their audience in Pi. Pi s advertising marketplace will be strictly opt-in only and will provide an opportunity for Pioneers to monetize one of their greatest untapped resources: their attention.
除了与同行交换关注，先锋还可能选择与那些寻求他们关注的公司进行交易。美国人平均每天看4000到10000个广告。公司为了吸引我们的注意力而斗争，并为此支付了大量的金钱。但是我们，客户，从这些交易中得不到任何价值。在Pi的关注市场中，想要接近先锋的公司将不得不补偿他们在Pi中的观众。Pi的广告市场将严格限制用户的选择，这将为先锋们提供一个机会，使他们最大的尚未开发的资源之一——他们的注意力——实现盈利。
Pi s Barter Marketplace - Build Your Personal Virtual Storefront
Pi的易货市场-建立你的个人虚拟店面
In addition to contributing trust and attention to the Pi Network, we expect Pioneers to be able to contribute their unique skills and services in the future. Pi s mobile application will also serve as a Point of Sales where Pi s members can offer their untapped goods and services via a "virtual storefront" to other members of the Pi Network. For example, a member offer up an underutilized room in their apartment for rent to other members on the Pi Network. In addition to real assets, members of the Pi Network will also be able to offer skills and services via their virtual storefronts. For example, a member of the Pi Network could offer their programming or design skills on the Pi marketplace. Overtime, the value of Pi will be supported by a growing basket of goods and services.
除了为Pi网络提供信任和关注外，我们期待先锋们在未来能够贡献他们独特的技能和服务。Pi的移动应用程序也将作为销售点，Pi的成员可以通过"虚拟店面"向Pi网络的其他成员提供他们尚未开发的商品和服务。例如，一个成员在他们的公寓里提供了一个未使用的房间出租给Pi网络的其他成员。除了实物资产，Pi网络的成员还可以通过他们的虚拟店面提供技能和服务。例如，Pi网络的成员可以在Pi市场上提供他们的编程或设计技能。随着时间的推移，越来越多的商品和服务将支撑Pi的价值。
Pi s Decentralized App Store - Lowering The Barrier Of Entry For Creators
Pi的分布式应用商店——降低创造者的进入门槛
The Pi Network s shared currency, trust graph, and marketplace will be the soil for a broader ecosystem of decentralized applications. Today, anyone that wants to start an application needs to bootstrap its technical infrastructure and community from scratch. Pi s decentralized applications store will allow Dapp developers to leverage Pi s existing infrastructure as well as the shared resources of the community and users. Entrepreneurs and developers can propose new Dapps to the community with requests for access to the network s shared resources. Pi will also build its Dapps with some degree of interoperability so that Dapps are able to reference data, assets, and processes in other decentralized applications.
网络的共享货币、信任图表和市场将成为更广泛的分布式应用生态系统的土壤。今天，任何想要启动应用程序的人都需要从头开始引导它的技术基础设施和社区。Pi的分布式应用程序商店将允许Dapp开发者利用Pi现有的基础设施以及社区和用户的共享资源。企业家和开发者可以向社区提出访问网络共享资源的请求。Pi还将构建具有某种程度互操作性的Dapps，以便Dapps能够引用其他分散应用程序中的数据、资产和流程。
Governance - Cryptocurrency for and by the people
治理——众创和众用的加密货币
Challenges w/ 1st Generation Governance models
第一代治理模式面临的挑战
Trust is the foundation of any successful monetary system. One of the most important factors engendering trust is governance, or the process by which changes are implemented to the protocol over time. Despite its importance, governance is often one of the most overlooked aspects of cryptoeconomic systems.
信任是任何成功的货币体系的基础。产生信任的最重要因素之一是治理，即随着时间的推移对协议进行更改的过程。尽管其重要性，治理往往是一个最被忽视的方面加密经济系统。
First generation networks such as Bitcoin largely avoided formal (or "on-chain") governance mechanisms in favor of informal (or "off-chain") mechanisms arising from a combination of role and incentive design. By most measures, Bitcoin s governance mechanisms has been quite successful, allowing the protocol to grow dramatically in scale and value since its inception. However, there have also been some challenges. The economic concentration of Bitcoin has led to a concentration of political power. The result is that everyday people can get caught in the middle of destructive battles between massive holders of Bitcoin. One of the most recent examples of this challenge has been the ongoing battle between Bitcoin and Bitcoin Cash. These civil wars can end in a fork where or where the blockchain. For token holders, hard forks are inflationary and can threaten the value of their holdings.
像比特币这样的第一代网络在很大程度上避免了正式的(或"链上")治理机制，而更青睐于由角色和激励设计相结合产生的非正式(或"链外")机制。从大多数标准来看，比特币的治理机制相当成功，从一开始就允许该协议在规模和价值上爆发式地增长。然而，也存在一些挑战。比特币的经济集中导致了政治权力的集中。其结果是，每天人们都可能陷入大量比特币持有者之间的破坏性战争。这一挑战最近的一个例子是比特币和比特币现金之间的持续战争。这些内战导致硬分叉的产生。对于名义持有者来说，硬分叉会造成通货膨胀，并且会威胁到他们所持有的资产的价值。
Pi s Governance Model - a two-phase plan
Pi的治理模型-一个两阶段的计划
In an article challenging the merits of on-chain governance, Vlad Zamfir, one of Ethereum s core developers, argues that blockchain governance "is not an abstract design problem. It s an applied social problem." One of Vlad s key points is that it is very difficult to design governance systems "a priori" or before observations of the particular challenges arising from a specific political system. One historical example is in the founding of the United States. The first experiment with democracy in the United States, the Articles of Confederation, failed after an eight-year experiment. The Founding Fathers of the United States were then able to draw upon the lessons of the Article of Confederation to craft the the Constitution - a much more successful experiment.
在一篇质疑连锁治理优点的文章中，VladZamfir，Ethereum的核心开发者之一，认为区块链治理"不是一个抽象的设计问题。这是一个实用的社会问题。"弗拉德的主要观点之一是，很难"先验地"设计治理制度，或在观察某一具体政治制度所产生的特殊挑战之前设计治理制度。历史上的一个先例就是美国的成立。美国的第一个民主实验----邦联条例经过八年的实验以失败告终。于是，美国开国元勋能够吸取联邦宪法条款的教训，制定宪法，这是一个更加成功的实验。
To build an enduring governance model, Pi will pursue a two-phase plan.
为了构建一个持久的治理模型，Pi将实施两阶段计划。
Provisional Governance Model ( 5M members)
Pi的「制宪会议」(500万名成员)
Upon hitting 5M members, a provisional committee will be formed based on previous contributions to the Pi Network. This committee will be responsible for soliciting and proposing suggestions from and to the wider community. It will also organize a series of on- and offline conversations where Pi s members will be able to weigh on Pi s long-term constitution. Given Pi s global user base, the Pi Network will conduct these conventions at multiple locations across the world to ensure accessibility. In addition to hosting in-person conventions, Pi will also use its mobile application as a platform for allowing Pi s member to participate in the process remotely. Whether in-person or online, Pi s community members will have the ability to participate in the crafting Pi s long-term governance structure.
在500万成员的基础上，一个临时委员会将根据先前对Pi网络的贡献成立。该委员会将负责向更广泛的社区征求和提出建议。它还将组织一系列的在线和线下对话，在这些对话中，Pi的成员将能够对派的长期体质发表意见。鉴于Pi的全球用户基础，Pi网络将在全球多个地点举行这些会议，以确保无障碍性。除了举办见面会，Pi还将使用其移动应用程序作为平台，允许Pi的成员远程参与进程。无论是面对面的还是在线的，Pi的社区成员都能有渠道参与制定派的长期治理结构。
Roadmap / Deployment plan
路线图/部署计划
Phase 1 - Design, Distribution, Trust Graph Bootstrap.
阶段1-设计，分发，信任图引导程序。
The Pi server is operating as a faucet emulating the behavior of the decentralized system as it will function once its live. During this phase improvements in the user experience and behavior are possible and relatively easy to make compared to the stable phase of the main net. All minting of coins to users will be migrated to the live net once it launches. 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. Pi is not listed on exchanges during this phase and it is impossible to "buy" Pi with any other currency.
服务器就像一个水龙头一样运行，模分布式系统的行为，因为它一旦运行就会正常工作。在这个阶段，与主网络的稳定阶段相比，用户体验和行为的改进是可行的，也是相对容易的。Pi网络一旦启动所有挖币用户将迁移到生活网络中。换言之，在阶段1，所有的区块挖掘都分散于每个持币者手中。在这个阶段，Pi币不在交易所上市，任何交易都是不可行的。
Phase 2 - Testnet
第二阶段-测试网
Before we launch the main net, the Node software will be deployed on a test net. The test net will use the same exact trust graph as the main net but on a testing Pi coin. Pi core team will host several nodes on the test net, but will encourage more Pioneers to start their own nodes on the testnet. In fact, in order for any node to join the main net, they are advised to begin on the testnet. The test net will be run in parallel to the Pi emulator in phase one, and periodically, e.g. daily, the results from both systems will be compared to catch the gaps and misses of the test net, which will allow Pi developers to propose and implement fixes. After a thorough concurrent run of both systems, testnet will reach a state where its results consistently match the emulator s. At that time when the community feels its ready, Pi will migrate to the next phase.
在我们启动主网络之前，Node软件将被部署在一个测试网络上。测试网络将使用与主网络完全相同的信任图，但是在测试Pi币系统上。核心团队将在测试网络上托管多个节点，但是将鼓励更多的先锋在测试网络上启动他们自己的节点。事实上，为了让任何节点加入主网络，建议它们从测试网开始。测试网络将在第一阶段与Pi模拟器并行运行，并且定期进行比较，例如每天，两个系统的结果将进行比较，以捕捉测试网络的缺口和漏洞，这将允许Pi开发人员提出建议并实现修复。在两个系统完全并发运行之后，测试网将达到其结果与模拟器一致的状态。到那个时候，当社区觉得它已经准备完毕，Pi将迁移到下一个阶段。
Phase 3 - Mainnet
第三阶段-主网
When the community feels the software is ready for production, and it has been thoroughly tested on the testnet, the official mainnet of the Pi Network will be launched. An important detail is that, in the transition into the mainnet, only accounts validated to belong to distinct real individuals will be honored. After this point, the faucet and Pi Network emulator of Phase 1 will be shut down and the system will continue on its own forever. Future updates to the protocol will be contributed by the Pi developer community and Pi s core team, and will be proposed by the committee. Their implementation and deployment will depend on nodes updating the mining software just like any other blockchains. No central authority will be controlling the currency and it will be fully decentralized. Balances of fake users or duplicate users will be discarded. This is the phase when Pi can be connected to exchanges and be exchanged for other currencies.
当社区认为软件已经可以投入运营，并且已经在测试网络上进行了彻底的测试，Pi网络的官方主网络就会启动。一个重要的细节是，在过渡到主网络时，将进行账户认证以确保每个用户是不同的真实的人。此后，第1阶段的分配制度和Pi网络模拟器将被关闭，系统将永远独立运行。协议的未来更新将由Pi开发者社区和Pi的核心团队提供，并将由委员会提出。他们的实施和部署将取决于节点更新挖掘软件就像任何其他区块链。不存在中央机构将控制货币，它将是完全分布式的。虚假用户或重复用户的余额将被剔除。在这个阶段，Pi将会登陆交易所，并与其他货币进行交易。
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