Governance

Pi Protocol is governed by its community through the USPi token. Governance determines how the protocol evolves over time—deciding everything from which vaults are approved, how fees are allocated, which addresses are permitted to access the system, and how protocol upgrades are handled.

This system ensures that control is decentralized, transparent, and aligned with those who actively participate in and support the protocol’s growth.

USPi token holders participate in governance by staking or time-locking their tokens. The more committed the holder (i.e. the longer they lock their tokens), the greater their influence in shaping protocol decisions. Governance also elects a Risk Committee, enforces a whitelist/blacklist, and manages proposals through a transparent PIP process.