A genesis block is the name of the first crypto currency mined thus called GENESIS or the Beginning.
According to Dr. Nicolas Kokkalis Pi Network Head of Technology
Pi is coming from the same place Bitcoin is coming from - the code. More specifically when we launch to mainent, the genesis block will effectively include the pi balances of all of today’s pioneers who were not bot or fake accounts. The Core team will publish the list of balances and this will will be included through the code of the blockchain effectively in the genesis block.
Although Pi Network mobile mining is done on Pi Network faucet emulator. We as Pioneers of Pi Network are being rewarded with Pi Cryptocurrency for participating during the beta phases of Pi Network project. All these Pi Network coins that we “mined” through our mobile phone are being recorded in the centralized Pi Network blockchain. This centralized Pi Network blockchain will become decentralized.
When the community feels the software is ready for production, and it has been thoroughly tested on the testnet, the official mainnet of the Pi network will be launched. An important detail is that, in the transition into the mainnet, only accounts validated to belong to distinct real individuals will be honored. After this point, the faucet and Pi network emulator of Phase 1 will be shut down and the system will continue on its own forever. Future updates to the protocol will be contributed by the Pi developer community and Pi’s core team, and will be proposed by the committee. Their implementation and deployment will depend on nodes updating the mining software just like any other blockchains. No central authority will be controlling the currency and it will be fully decentralized. Balances of fake users or duplicate users will be discarded. This is the phase when Pi can be connected to exchanges and be exchanged for other currencies. minepi.com/white-paper