The Pi Network is poised to take significant steps forward with the official launch of its Open Network on February 20, 2025, at 8:00 AM UTC. This transition marks the conclusion of the enclosed Mainnet phase and the beginning of a new era for the Pi cryptocurrency, allowing for external connectivity and broader utility within its ecosystem.
With over six years of development, the Pi community has been diligently preparing for this milestone. It has achieved impressive user engagement, having verified over 19 million identities and successfully migrated 10.14 million users to the Mainnet. This exceeds the original goal of 10 million migrations, showcasing the growing popularity and commitment from its user base.
The significance of the Open Network launch cannot be overstated, as it will enable Pi to connect securely with external systems for the first time. This integration will allow Pioneers to engage in transactions beyond the Pi ecosystem, greatly enhancing its utility and reach within the crypto market. "Pi is ready to open its utilities-driven ecosystem where our now over 19 million identity-verified Pioneers can use Pi—a cryptocurrency with real-world functions and applications backing it," the Pi Network stated.
The core team will gradually invite Pioneers to transition their nodes from Testnet to Mainnet, prioritizing those with strong historical contributions and reliable engagement. This inclusion not only signals trust but also aims to develop similarly strong partnerships with businesses. To facilitate this, participation will require KYC (Know Your Customer) verification for users and KYB (Know Your Business) verification for businesses, aimed at sustaining security within the ecosystem.
The recent announcement has sparked excitement among users, with Pi Coin's price reportedly surging by 80%. Following the announcement, it jumped to $92, up from $49. Experts believe the official launch could push the price to significantly higher levels, enhancing perceptions of Pi Coin's value and real-world applications.
Notably, the decision to launch on February 20 follows the successful completion of key conditions laid out by the Pi Network team. These conditions included finalizing all technical and legal preparations, exceeding the KYC verification requirement of 15 million users, and ensuring at least 100 decentralized applications (dApps) were ready for use at the time of launch. Currently, Pi Network stands proud with over 100 Mainnet or Mainnet-ready applications prepared, promising users access to various utilities upon going live.
Despite the enthusiasm surrounding this launch, skepticism looms large. Some users and external observers harbor concerns due to earlier delays, criticisms of the project's structure, and even allegations of pyramid-like operations. "Pi’s open network will be a disappointment for more than half of the Pi Community as they are expecting unrealistic value," one user lamented on X (formerly Twitter).
The anti-scam platform MASTR did not hold back, labeling the Pi Network as potentially fraudulent, stating, "PI Network has nothing to do with the real project and will soon rug." Such criticisms are not entirely unfounded, as Vietnam’s authorities had previously launched investigations citing concerns over the unregulated model and transparency.
These challenges may affect the network's adoption and interaction with established cryptocurrency exchanges, like Binance and Kraken, as they assess the overall credibility of Pi Network’s framework. Nevertheless, the Pi Network has assured users there would be no more delays due to external factors, urging Pioneers to complete their KYC verification and migrate their holdings to capitalize on this new phase of the network.
Anticipation builds as February 20 approaches, with the wider crypto community closely watching to gauge how the Open Network launch will fundamentally impact Pi Coin's listings on major exchanges. The success of this venture may very well depend on the engagement of its community members, including Pioneers who continue to mine, back Pi applications, and engage with local business transactions.
The Open Network launch heralds what many hope is a transformative period for the Pi Network and its users. With the groundwork laid during previous phases aimed at growing and securing the ecosystem, both excitement and apprehension remain prevalent among users and industry experts alike. It remains to be seen how this launch will reshape the digital currency space, but one thing is clear: the Pi Network is prepared to explore its potential like never before.