Introducing Pi, a new cryptocurrency designed for everyday users, aiming to be more accessible and widely adopted than first-generation cryptocurrencies like Bitcoin. It outlines Pi's mission and vision to create an inclusive peer-to-peer marketplace powered by Pi. The document details the limitations of traditional financial systems and Bitcoin, such as unfair value capture, fees, censorship, permissioning, and centralization. Pi's solution involves a mobile-first mining approach utilizing the Stellar Consensus Protocol (SCP) with adaptations to enable individual participation and secure transactions through a trust graph. Furthermore, the text explains Pi's unique economic model, focusing on fair distribution, scarcity, and rewarding contributions, alongside its plans for utility creation through attention and barter marketplaces, a decentralized app store, and a two-phase governance structure leading to full decentralization at its mainnet launch.