Pi Network's Mainnet Launch: Unlocking Access to Digital Assets for Millions

The Pi Network, a blockchain project that has garnered significant attention in the crypto ecosystem, is set to launch its mainnet on February 20, 2025, at 8 AM UTC. This event marks a significant milestone for the project, which has been operating within a closed testnet for the past couple of years.

The Pi Network's unique model leverages a mobile app for energy-efficient mining of its Coin, which is based on the Stellar Consensus Protocol (SCP). Unlike Bitcoin (BTC) and Ethereum (ETH), which use Proof-of-Work (PoW) and Proof-of-Stake (PoS) models, the Pi Network aims to provide access to digital assets for anyone, a concept that has resonated with people worldwide since its introduction nearly a decade ago.

With the mainnet launch, users will be able to perform various operations, including trading Pi on supporting crypto trading platforms and utilizing the coin to pay for merchandise in the Pi Network's marketplace. However, users must complete the Know Your Customer (KYC) verification process to participate in the open mainnet. A grace period for KYC verification and mainnet migration has been extended to February 28, 2025, based on community demand.

The Pi Network has successfully migrated over 10 million accounts to the Mainnet, and users who fail to complete KYC may face limitations, such as restrictions on external transfers of Pi tokens or participation in the broader ecosystem. The team behind the network is working to build a hub where users can spend Pi on goods, services, and applications, with 20 mainnet apps already live within the Pi ecosystem.

As the open mainnet launch approaches, the Pi Network Coin is expected to be listed on more crypto exchanges. MEXC Exchange has announced plans to launch PI on its platform for pre-market trading, while HTX, Gate.io, and Bitget have confirmed they will list the Pi Coin on February 20. A Binance community poll shows that over 88% of participants support the listing of Pi Coin, with voting still open until February 27.