#PI Today I saw a fren explaining the Pi network project "GCV" as follows:

GCV stands for "Global Consensus Value" or "Global Unified Value".

Specifically, in the context of the Pi Network cryptocurrency project:

1. Background: Pi Network is a mobile mining cryptocurrency project that has launched its mainnet but is currently in a closed network phase. Pi coin cannot yet be freely traded publicly with fiat currencies (such as USD, RMB).
2. The meaning of GCV:
· It is not a real-time price formed by public market exchanges.
· It is a theoretical value or target value reached by consensus within the Pi Network community. Community members use this value to estimate the future potential of Pi coins and as a reference during internal transactions or barter.
· Exchange rate 1 Pi = $314,159.00 (GCV) is a very famous community consensus value, and this number comes from the mathematical constant π (approximately 3.14159).
3. Difference from market exchange rate:
· GCV: is an idealized, non-market pricing based on community consensus.
· Real market price: The true market price of Pi coin is only determined by the supply and demand relationship in the market when it is freely traded on major exchanges. Currently, Pi has not reached this stage.

According to consensus, 1 Pi coin is worth 314,159 USD. But this does not mean that you can actually exchange 1 Pi coin for over 310,000 USD right now. It is more like a vision and an internal accounting unit.