On February 20, 2025, Pi Network (PI) reached a pivotal milestone by officially launching its Open Network Mainnet, marking a transformative event in cryptocurrency history. At exactly 8:00 AM UTC, the network transitioned to its Open Network phase, eliminating the firewall that previously restricted external connectivity. This move expands the network’s usability, enabling it to interact seamlessly with external systems.
With this launch, Pi Network now boasts an impressive 10.14 million Mainnet migrations and over 19 million identity-verified Pioneers. These Pioneers, who have long been anticipating the transition, can now utilize their PI tokens for real-world applications, including trading, business transactions, and decentralized applications (dApps). By opening its ecosystem to the wider blockchain space, Pi Network has taken a significant step toward its long-term vision of creating a decentralized, user-driven financial system.
PI NETWORK | Unprecedented Exchange Listings with Mandatory KYB
Alongside its Open Network launch, Pi Network secured listings on multiple major cryptocurrency exchanges, a move that has been described as groundbreaking in the digital asset space. However, what sets this listing apart is the mandatory Know Your Business (KYB) requirements imposed by these exchanges.
To enhance security and compliance, exchanges listing PI have mandated that businesses and entities transacting with the token undergo thorough verification. The KYB process ensures transparency and mitigates fraudulent activities, addressing long-standing concerns about the network’s legitimacy. Given Pi Network’s unique referral-based mining model and the skepticism surrounding its protracted launch, these stringent compliance measures are seen as a crucial step toward earning trust and credibility within the broader cryptocurrency community.
Exchange Listings and Market Performance
Several top-tier cryptocurrency exchanges, including LBank, MEXC Global, Bitrue, and Bitget, have integrated Pi Network’s native token, PI, into their trading platforms. Each exchange facilitated PI/USDT trading as of 8:00 AM UTC on February 20, 2025. Withdrawal services are set to commence on February 21, 2025, allowing users to fully engage with their holdings. Bitrue further incentivized participation by launching a deposit contest featuring a 10,000 USDT prize pool.
The market response to PI’s listing has been volatile, reflecting both enthusiasm and uncertainty. Within hours of trading, the token surged by 10%, only to experience a 21% dip shortly after. This fluctuation indicates the market’s cautious approach as investors gauge the impact of KYB requirements and the network’s long-term sustainability.
PI NETWORK | Community Reactions and Industry Implications
The Pi Network’s historic launch and listing have triggered widespread discussions within the crypto community. Supporters view the move as a validation of Pi’s potential, emphasizing that the KYB compliance sets a new standard for legitimacy in the industry. They argue that the network’s commitment to security and regulatory measures will position it as a strong competitor in the blockchain ecosystem.
Conversely, critics highlight potential barriers to adoption, questioning whether the stringent KYB measures might deter businesses from integrating PI into their operations. Others remain skeptical about the network’s long-term viability, considering its unconventional mining model and prolonged journey to mainnet.
Despite these differing opinions, Pi Network’s Open Network launch and its unprecedented approach to exchange listings mark a significant evolution in the crypto space. By prioritizing compliance, transparency, and accessibility, Pi Network has introduced a new paradigm for future cryptocurrency projects, setting a precedent that could redefine digital asset adoption in the years to come.
