Pi’s Big Bet on KYC and Growth Amid Fading Hype

The Pi Network has announced a significant protocol upgrade from Version 19 to Version 23, marking a pivotal step in its development roadmap. The update, based on Stellar v23 but customized for Pi Network, aims to enhance functionality and user control while integrating a decentralized Know-Your-Customer (KYC) process [1]. This move addresses long-standing challenges in user verification and strengthens the network’s compliance framework. The transition will be implemented in phases, with possible network outages, as the team emphasized the need for partners and the community to prepare for the changes [1].

A notable feature of Version 23 is the inclusion of third-party KYC solutions, enabling a more distributed verification process. The Core Team highlighted the importance of KYC for network integrity and future integrations with services that require identity verification. With nearly 15 million verified users, the upgrade reflects the project’s commitment to scalability and regulatory alignment [1]. While the technical improvements are expected to bolster user trust and network security, the broader market remains skeptical, as Pi’s native token (PI) continues to underperform against broader crypto trends [1].

The PI token has struggled to maintain upward momentum despite the recent upgrades. As of the latest data, the token trades at $0.3499, down 88% from its all-time high marked in late February 2025 [3]. Although the token briefly surged above $0.4 in mid-August, the gains were short-lived, and PI has since fallen below $0.35. The token’s weak performance is attributed to limited exchange listings and a lack of clear use cases beyond mobile mining [2]. Traders and analysts warn that without broader market adoption, Pi could face a price collapse by 2026 [2].

A recent token unlock schedule has added pressure to the price. Over 22 million PI tokens are set to be released in early September alone, which could increase supply and further suppress demand [1]. However, the Core Team has assured the community that it will provide advance warnings about potential outages and token releases, emphasizing transparency as a key aspect of the project’s strategy [1]. Despite these measures, the market’s reaction to the news has been muted, with PI losing over 3% of its value in the past week [3].

The listing of Pi Network on Onramp Money represents a significant milestone in its global adoption strategy. The integration allows users in over 60 countries to purchase PI using local payment methods such as GCash, Maya, and Alipay [5]. This move is part of a controlled distribution model that prioritizes ecosystem development over speculative trading. By distributing tokens directly from foundation wallets to KYB-approved partners, Pi Network aims to ensure steady growth and regulatory compliance [5]. Analysts suggest this approach aligns with the project’s long-term vision of mainstream adoption and real-world utility [5].

Looking ahead, the Pi Network team has outlined a roadmap that includes further protocol enhancements, decentralized applications, and increased utility for the PI token. The recent hackathon, offering a prize pool of 160,000 PI tokens, underscores the project’s focus on fostering innovation within its ecosystem [4]. While the market remains cautious about PI’s price trajectory, the team’s emphasis on gradual decentralization and user engagement suggests a patient, long-term strategy [4].

In contrast to Pi’s steady but slow progress, attention in the crypto market has shifted toward tokens offering faster growth and volatility. Layer Brett ($LBRETT), an Ethereum-based project, has emerged as a potential high-growth alternative with aggressive staking rewards and a growing community [2]. This trend highlights the ongoing challenge Pi faces in capturing sustained investor interest without clear utility or widespread exchange listings. For now, Pi Network’s focus remains on ecosystem development, with the hope that increased adoption and use cases will eventually drive price appreciation.

Source:

[1] Massive Pi Network Update Drops: What Every PI User ... (https://cryptopotato.com/massive-pi-network-update-drops-what-every-pi-user-needs-to-know/)

[2] Pi Network News As Pi Coin Price Could Collapse In 2026 ... (https://www.digitaljournal.com/pr/news/binary-news-network/pi-network-news-pi-coin-1577786957.html)

[3] PI to USD: Pi Network Price in US Dollar (https://www.coingecko.com/en/coins/pi-network/usd)

[4] Pi Network Price Today, PI to USD Price, PI Live Chart, News (https://www.gate.com/price/pi-network-pi)

[5] Pi Network Secures Major Listing, Boosting Pi Coin's ... (https://coingape.com/pi-network-secures-major-listing-boosting-pi-coins-adoption/)