Pi Network Mainnet Launch: A New Era for Mobile Mining
The long-awaited Pi Network Mainnet launch finally happened in February 2025, marking a major milestone for the world of cryptocurrency. This event has transformed Pi from a closed ecosystem into a blockchain that allows external transactions, exchange listings, and real-world use cases.
Pi Network has been one of the most talked-about projects in the crypto space, thanks to its unique mobile mining system and large community of pioneers. With the introduction of the Pi Network Open Mainnet, users can now transact Pi coins outside the enclosed network, integrating with the broader crypto market. But what does this really mean for the project and its users? Let’s break it down.
What Is Pi Network?
Pi Network is a cryptocurrency project designed to be accessible to everyone, allowing users to mine Pi coins using just their smartphones. Unlike Bitcoin and Ethereum, which require expensive hardware and significant electricity, Pi uses a Proof of Consensus (PoC) mechanism that enables users to earn coins with minimal effort.
Launched in 2019 by a team of Stanford graduates, Pi Network quickly gained popularity, amassing over 70 million users worldwide.
The platform operates in four phases:
1. Beta Phase (2019-2020) – Users could mine Pi Coins, but transfers were restricted.
2. Testnet Phase (2020-2022) – Developers tested the blockchain and verified transactions.
3. Enclosed Mainnet Phase (2022-February 2025) – Transactions were restricted within the Pi ecosystem.
4. Open Mainnet Phase (February 2025-now) – External transactions and exchange listings are possible.
Before the Pi Network open mainnet launch on February 20, users were unable to withdraw, trade, or use their Pi outside the Pi Network ecosystem.
With the Pi Coin Mainnet launch, all that has changed.
What Does the Pi Network Open Mainnet Mean?
The term “Open Mainnet” refers to a blockchain that is fully operational and connected to external networks. This means Pi Coin can now be transferred to external wallets, traded on cryptocurrency exchanges, and used in real-world applications. Here’s a breakdown of what this means for users:
1. External Transactions – Users can send and receive Pi coins outside of the Pi ecosystem.
2. Exchange Listings – Pi Network is now eligible to be listed on major cryptocurrency exchanges like Bitget.
3. Business Adoption – Companies can now integrate Pi as a payment method for products on the Mainnet.
4. Decentralization – The transition to Mainnet makes the network more secure and scalable.
5. Increased Activities – Developers can launch dApps on the Pi Network and diversify what users can do on the blockchain.
Key Features of the Pi Network Mainnet Launch
The Mainnet launch has introduced several critical updates that enhance Pi Network’s functionality and credibility. Here are the most important features:
1. KYB Verification for Businesses
To encourage adoption, Pi Network now allows businesses to integrate with the Mainnet through Know Your Business (KYB) verification. This ensures that companies accepting Pi as payment are legitimate and trustworthy.
2. Exchange Integration for Trading
With Pi Network’s transition to an Open Mainnet, cryptocurrency exchanges, both DEX and CEX included, can now support Pi trading pairs. This means users can finally buy, sell, and trade Pi coins for other cryptocurrencies or fiat money.
3. Security and Scalability Updates
Pi Network has rolled out Node version 0.5.1, which optimizes performance, improves decentralization, and prepares for public node rankings. These upgrades ensure that the blockchain remains secure and scalable as more users join the network.
4. Airdrops and Reward System
As part of the Mainnet launch, Pi Network conducted a massive $12.6 billion airdrop for KYC-verified users. This rewarded early adopters and encouraged participation in the Open Network Challenge, a program designed to help users explore the Pi ecosystem.
What Changed After the Pi Network Mainnet Launch?
Since the Pi Network open mainnet, several major developments have taken place:
1. Pi Coin Can Now Be Traded on Exchanges
Before the mainnet launch, Pi Coin was only traded as an IOU (futures contract) on certain exchanges, with speculative prices between $61 and $70 per coin. However, after the actual launch, the price surged to $2.10 before stabilizing around $0.7 as of April 2025.
2. KYC and KYB Verification Expanded
Users who completed Know Your Customer (KYC) verification could transfer their Pi to the open mainnet. Additionally, Know Your Business (KYB) verification was introduced, allowing businesses to accept Pi Coin as payment legally.
3. DApps Are Growing
The Pi ecosystem now supports smart contracts and dApps, with developers building real-world use cases for Pi Coin.
4. Businesses Are Starting to Accept Pi Coin
Since the mainnet launch, a growing number of merchants have begun accepting Pi Coin for goods and services, but adoption remains limited due to issues such as price volatility and regulatory uncertainties.
Can Pi Coin Be Accepted as Payment?
One of the main goals of the Pi Network open mainnet is to make Pi Coin a real currency for goods and services. Some businesses have already started accepting Pi Coin for transactions, but widespread adoption depends on:
● Business KYB (Know Your Business) verification to enable merchant accounts.
● Stable Pi Coin value to encourage long-term usage.
● More dApps and smart contracts on the Pi blockchain.
If the Pi Network ecosystem grows, Pi Coin could become a popular digital currency for payments and services.
Risks and Challenges for Pi Network
While the Pi Network Open Mainnet is a major step forward, there are still some challenges to consider:
1. User Count Discrepancies
Pi Network claims to have 70 million users, but the number of active wallets is much lower. This could affect adoption and liquidity.
2. Inflation Concerns
The circulating supply of Pi doubled with the Mainnet launch, raising concerns about potential inflation and long-term value.
3. Centralization and Privacy Issues
Pi Network requires mandatory KYC, leading some to question its commitment to decentralization and privacy.
4. Regulatory Uncertainty
Pi Network may face challenges from governments and financial regulators, which could impact exchange listings and business adoption.
Conclusion
The Pi Network mainnet launch on February 20, 2025, was a historic moment for Pioneers who spent years mining Pi Coin. Now that the network is open, users can finally trade and use their Pi holdings.
However, adoption has been slower than expected, and the price has dropped since launch. Whether Pi Network becomes a true global digital currency or fades away depends on exchange support, business adoption, and user engagement. The future of Pi Network is uncertain, but the upcoming product on mainnet will decide whether Pi Coin becomes a true digital currency or just another crypto experiment.
For now, Pi Coin remains a work in progress with both potential and uncertainty.
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For more details about Pi Network, check out our other articles:
Pi Network (PI): Mining On Smartphones
How Much Will Pi Be Worth in 2030? Is Now the Time to Buy?
Pi Coin (PI): Listing Date and Selling Guide on Bitget
Selling PI Coins: A Simple Guide for Beginners
How to Safely Deposit Pi Token into Bitget
Leveraging Pi Network Communities: A Guide to Earning Referral Bonuses on Bitget
Disclaimer: The opinions expressed in this article are for informational purposes only. This article does not constitute an endorsement of any of the products and services discussed or investment, financial, or trading guidance. Qualified professionals should be consulted prior to making financial decisions.
