Introduction

Pi Protocol is a decentralized, non-custodial platform built to redefine stablecoin utility by combining yield, transparency, and real-world asset (RWA) backing. At its core, Pi Protocol is a mechanism to mint stablecoins — namely USP and USI — with unique advantages that stand out in the DeFi ecosystem: yield without staking, no lockups, and RWA-powered growth.

Traditionally, stablecoins are either overcollateralized with crypto (DAI, LUSD), backed by reserves held by centralized institutions (USDC, USDT), or are algorithmic in nature (UST, FRAX). Each of these models has critical flaws: volatility risk, lack of transparency, centralization, or unsustainable economics.

Pi Protocol offers a fourth path. Through transparent smart contracts and a novel minting mechanism, it allows users to mint stablecoins that:

• Remain pegged to the USD
• Accrue yield passively (USI)
• Require no staking or token locking
• Are backed by regulated, real-world yield-bearing assets such as treasury bills or fixed-income securities

All of this is managed through a decentralized, open protocol, giving users full control over their capital. The experience is seamless — you connect your wallet, mint the stablecoin, and start benefiting from predictable, real yield.

Pi is not trying to replace banks — it’s trying to make yield-bearing financial infrastructure borderless, accessible, and resilient through DeFi. Whether you’re looking to hedge against volatility, earn predictable returns, or simply transact with a more transparent stablecoin, Pi Protocol makes it easy to get started.