After six years of development and millions of users engaging with the Pi cryptocurrency, the long-awaited Pi Open Network is officially set to launch on February 20, 2025, at 8 AM UTC. The announcement, which sent shockwaves through the crypto community, was made via Pi Network’s official X (Twitter) account in the early hours of February 12, 2025.
For the millions of Pioneers who have been mining and waiting for this moment, the reaction was one of excitement, with many celebrating the long-awaited transition to an open and fully decentralized network. The Pi Core Team stated, “With millions of KYC-verified Pioneers and a thriving utilities-driven ecosystem, Open Network expands available opportunities, allowing Pioneers to connect Pi with external systems for real-world applications like never before.”
Pi Network Price Surges as Open Network Nears
Following the announcement, the price of Pi (IOU) on CoinMarketCap skyrocketed by approximately 70%, reflecting the market’s excitement and anticipation. While Pi has yet to be officially listed for trading, the surge in its IOU price signals strong investor confidence in the project’s future.
What to Expect from the Open Network Launch
With the firewall being removed, Pi Network will transition from a closed Mainnet to an open Mainnet, allowing external connectivity to other blockchain networks, platforms, and financial systems. This means that Pioneers can finally use their Pi beyond the Pi ecosystem, enabling real-world transactions and broader adoption.
Key Changes at Launch:
External Connectivity: Pi will no longer be restricted to its closed network. The blockchain will be able to interact with compliant external systems, expanding its utility for payments, decentralized applications, and smart contracts.
Node Expansion: Anyone will be able to run a Pi node on Mainnet, further decentralizing the network. However, the Pi Core Team will prioritize Pioneers with strong historical contributions when transitioning nodes from Testnet to Mainnet.
Public Node Ranking: Node rank data will soon be made public, ensuring transparency and rewarding dedicated contributors to the network’s security and efficiency.
Business Compliance Requirements: To maintain a safe and regulated Web3 ecosystem, businesses must complete a Know Your Business (KYB) verification before participating in Mainnet transactions. Similarly, all Pioneers must be KYC-verified to engage in network activities.
KYB Verification for Businesses: Businesses looking to accept Pi payments will be able to apply for KYB verification through an official web portal (launching soon). A list of KYB-approved businesses will also be made available on the Pi Network website.
Read also: Will Pi Network be next Bitcoin? Price predictions vs. reality
What Pioneers and Developers Should Do Before Open Network Launch
The Pi Core Team emphasized that Pioneers and developers play a crucial role in strengthening the network as it enters the Open Network phase. Here’s how they can actively contribute:
Continue Mining: Pi mining will continue, but the issuance rate will follow a declining exponential model with monthly adjustments.
Engage with Pi Apps: Pioneers are encouraged to use Pi-based applications to support and expand the ecosystem.
Encourage Local Adoption: Businesses and store owners should continue accepting Pi for peer-to-peer transactions, further driving real-world utility.
Complete KYC and Migration: If you haven’t completed your KYC verification, do so before Open Network launches to avoid missing out on full network access.
Opportunities for Developers
Developers are being urged to improve and expand their Mainnet applications to prepare for the open blockchain environment. The Core Team outlined two major areas of focus:
Refining Existing Apps: Ensure Mainnet Pi apps are optimized to address user needs and fix potential issues ahead of full-scale adoption.
Building New Applications: Developers are encouraged to create new Mainnet apps that will contribute to the Pi ecosystem, fostering innovation and growth.
The Future of Pi Network in the Open Network Era
With its transition to Open Network, Pi Network is entering a new phase, moving beyond its closed mining model and into the real-world Web3 economy. The removal of the firewall, external integrations, and broader adoption will determine how successful Pi becomes in the global crypto space.
Will Pi Network revolutionize decentralized finance (DeFi) and digital payments, or will it face challenges as it expands? The answer lies in how Pioneers, developers, and businesses adapt to this new era of Pi Network’s evolution.
