The Pi Network has experienced an 80% drop in its price since February, trailing behind the cryptocurrency market’s recovery. Despite this, founders Nicolas Kokkalis and Chengdiao Fan could potentially be crypto billionaires, due to substantial allocations of tokens. With a core team allocation worth $13.2 billion, each founder could amass fortunes exceeding $6 billion, adding the possibility of access to community-distributed tokens. However, most tokens remain locked until 2028.
The Pi Network has seen a significant decline in its price, plummeting nearly 80% from peaks in February. Despite the ongoing recovery in the broader cryptocurrency market, where Bitcoin (BTC) has surged past $93,000 and the total market cap nears $3 trillion, Pi Coin (PI) has not followed suit, creating concerns about its future. Its market cap has diminished from $19 billion to approximately $4.62 billion as its fully diluted valuation dropped from over $300 billion to about $66 billion.
Currently, the Pi Network’s founders, Nicolas Kokkalis and Chengdiao Fan, are believed to have become crypto billionaires. Recent reports indicate that the Pi Network has a finite supply of 100 billion tokens, with 65 billion allocated to community members. The core team, which includes Kokkalis and Fan, has been allocated 20 billion tokens, translating to a current valuation of about $13.2 billion. If they divide these tokens equally, their individual fortunes would total roughly $6.6 billion from PI alone.
While the workforce of SocialChain, the parent company of Pi Network, is not fully clear, estimates suggest around 40 employees. If Kokkalis and Fan are the sole beneficiaries of the core team’s allocation, each would retain over $1 billion worth of tokens. Moreover, the Pi Network Foundation has been allocated 10 billion tokens, valued at over $6.6 billion. Although the foundation’s governance details remain unspecified, it’s typical for founders to oversee such reserves, enhancing their potential wealth.
Additionally, it is plausible that Kokkalis and Fan may possess some of the 65 billion tokens distributed among community members. However, access to these holdings is currently restricted, as most funds remain locked. Data from PiScan indicates a gradual unlocking of tokens expected to continue until May 2028, with an average of 131.2 million coins unlocked monthly, cumulatively valued at approximately $87 million.
