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    Legal & product disclosures

    About PI-IOU (PI.LOVE)

    This page is maintained by the WW2012 treasury team to answer common product and legal questions about PI-IOU. It is app-owner editable content, not an independent certification or audit.

    Last reviewed: 2026-07-04 · Reviewed by: @miha

    1. What PI-IOU is — and what it is not

    It IS
    • An internal IOU issued by WW2012 treasury under asset code PI.LOVE.
    • A 1:1 representation of real PI held in WW2012 custody, tradable inside LOVE Flow DEX.
    • In Phase 2 (once Stellar issuer goes live) a custom Stellar asset transferable between Stellar accounts.
    It is NOT
    • It is NOT native Pi Network coin and NOT an on-chain asset on Pi Mainnet.
    • It is NOT Pi Network staking, Pi mining, or Pi node rewards.
    • It is NOT a deposit, e-money, security, or investment product.
    • WW2012 is NOT a bank, is NOT a CASP under MiCA today, and does NOT hold your keys for a native Pi wallet.

    2. How backing works (1:1)

    • For every PI-IOU issued, one PI is held in WW2012 custody on a Pi wallet (currently a personal Pi Mainnet wallet operated by @miha, in Phase 2 moved to a multi-sig custody wallet).
    • Backing ratio, custody address, and issued amount are published publicly at /pi-reserve and updated on a manual reconciliation cadence.
    • If custody balance ever falls below issued IOU balance, minting is paused and the shortfall is disclosed at /pi-reserve within 24 hours.
    • You bear counterparty risk on WW2012 custody. There is no bank guarantee, no deposit insurance, no third-party protection.

    3. How withdrawal to native Pi works

    1. You submit a withdrawal request from your LOVE wallet specifying the destination Pi Mainnet address.
    2. WW2012 verifies KYC status (required for withdrawals >100 π) and confirms the destination address is a Pi Open Mainnet account.
    3. If your Pi account is NOT yet on Open Mainnet, the withdrawal is queued until your migration completes — this can take weeks or months and is outside WW2012 control.
    4. Once eligible, WW2012 sends real PI from custody to your address. Your PI-IOU balance is burned in the same operation. Typical processing time: 1–3 business days after eligibility.
    5. Withdrawals may be refused for AML/sanctions reasons. Network or Pi Network protocol outages may delay processing indefinitely.

    4. Key risks you accept

    • Counterparty risk: PI-IOU value depends entirely on WW2012 honoring redemption.
    • Withdrawal risk: If Pi Open Mainnet is unavailable to you or restricted in your jurisdiction, you may hold PI-IOU indefinitely without native withdrawal.
    • Market risk: Internal DEX price of PI-IOU can differ from third-party PI reference prices (Kraken IOU, OKX, etc.) due to thin liquidity.
    • Regulatory risk: MiCA and EU CASP rules are evolving. WW2012 may be required to restrict, delist, or migrate PI-IOU with reasonable notice.
    • No yield promise: Staking yield derives from actual DEX fee volume. Zero volume = zero yield. There is no fixed APR.

    5. Regulatory positioning

    WW2012 operates PI-IOU as an internal book-entry IOU inside the LOVE ecosystem, not as a licensed financial product. This means:

    • Not a MiCA-registered e-money token (EMT) or asset-referenced token (ART).
    • Not a security under EU Prospectus Regulation.
    • Not a deposit-taking service; no ATVP/Bank of Slovenia authorization is claimed.
    • Not investment advice. No guarantee of principal, yield, or convertibility timeline.

    If PI-IOU or the underlying LOVE Flow DEX crosses a licensing threshold in your jurisdiction, WW2012 will restrict, migrate, or wind down the service with prior notice on this page and at /pi-reserve.

    6. Questions & incident contact

    For product questions, redemption issues, or to report a suspected backing shortfall, contact @miha via lovecoin.life. Response target: 48 hours. Backing incidents are additionally published at /pi-reserve within 24 hours of confirmation.

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