After years of anticipation, delays, and speculations, the wait for the Pi Network’s Open Mainnet phase is almost over. While gamers worldwide may still be yearning for the release of GTA VI, crypto enthusiasts have their eyes fixed on a different milestone: the Pi Network’s long-awaited transition from its Enclosed Mainnet phase to the Open Mainnet phase. This groundbreaking launch is now officially slated for the first quarter of 2025, as confirmed by Nicolas Kokkalis, one of the network’s founders.
Marketed as “The first digital currency you can mine on your phone,” Pi Network has gained widespread attention thanks to its energy-efficient mining approach. Its dominance on platforms like BitDegree, where it consistently ranks as one of the most trending projects, underscores its popularity. But while Pi has captivated millions with its potential, the road to the Open Mainnet has been anything but smooth.
Pi Network has experienced multiple launch delays over the years, with the team citing the scale of preparations as a primary challenge. Central to these hurdles is the Know Your Customer (KYC) process, a critical step aimed at verifying the identities of its vast user base, or “pioneers.”
Currently, over 18 million users have completed KYC, but only 9 million have successfully migrated to the mainnet. To meet its target of 10 million migrations, Pi Network has extended the KYC grace period until January 31, 2025. This decision aims to ensure a more inclusive and stable foundation for the network before its Open Mainnet debut.
Despite recent reports of up to 500,000 migrations in a single week, challenges remain. The team has emphasized that failing to hit the migration goal could jeopardize the network’s long-term stability. However, they remain optimistic that the migration target will be surpassed in time for the planned launch, potentially as early as January or February 2025.
Will Pi Coin Finally Be Tradable?
One burning question for crypto enthusiasts is whether Pi Coin will be available for trading on major cryptocurrency exchanges like Binance, Kraken, and Bybit post-launch. Unfortunately, no guarantees exist at this point.
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As of now, Pi Coin remains within its enclosed phase, meaning it cannot be traded, bought, or sold outside the Pi Network ecosystem. While users can utilize it for certain activities within the network, its availability on centralized exchanges (CEXs) is still uncertain.
For a token to be listed on major exchanges, it must pass a rigorous evaluation process that includes assessments of its technology, team credentials, market demand, and regulatory compliance. Binance, for instance, requires detailed documentation and conducts thorough evaluations before listing any cryptocurrency. Even if Pi Network achieves its Open Mainnet launch, listing on exchanges will depend on whether it meets these stringent criteria.
What’s Next for Pi Network?
As the countdown to the Open Mainnet phase continues, excitement is palpable within the Pi Network community. However, enthusiasts are urged to temper their expectations and remain patient. With critical milestones like KYC completion and migration still underway, the journey to making Pi Coin a fully tradable asset is far from over.
For now, all eyes are on early 2025, when Pi Network hopes to finally deliver on its promises and open the door to a new era in cryptocurrency. Whether it becomes the next big thing in the crypto space or faces further hurdles, one thing is certain: the world will be watching.
Stay tuned as we bring you the latest updates on Pi Network and its upcoming launch.
