Pi’s Open Network Goes Live 20 February

Pi Network will officially launch its Open Network at 8 AM UTC on 20 February 2025, marking a significant shift from its Enclosed Mainnet phase, which began in December 2021.

During this period, the Mainnet operated behind a firewall, restricting external connectivity while allowing the network to mature.

With the firewall now lifted, users can integrate Pi with external systems, enabling real-world applications.

This transition not only opens new opportunities for Pioneers who completed Know Your Customer (KYC) verification but also empowers developers to deploy practical applications within the Pi ecosystem.

Meanwhile, the Core Team has focused on refining features and utilities to support the network's growth and broader functionality.

In anticipation of its upcoming launch, Pi Network announced it has exceeded its initial target of 10 million Mainnet migrations, achieving a notable milestone of 10.14 million.

The announcement read:

“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.”

What is Pi Network?

Pi Network is a blockchain platform that allows users to mine Pi coins directly from a mobile app, aiming to democratise cryptocurrency mining while minimising environmental impact.

Positioned as a decentralised, peer-to-peer ecosystem, Pi Network leverages a referral-based growth model to expand its user base and foster community engagement.

Concerns Arises From OKX’s Decision to List PI

Following Pi Network’s launch announcement, crypto exchange OKX confirmed it will list PI on the same day, sparking both excitement and concern among users.

Deposits for PI will open on 12 February at 2:45 UTC, with spot trading set to begin on 20 February at 8:00 UTC.

Withdrawals will follow on 21 February at 8:00 UTC.

Despite the listing, some traders have voiced apprehensions over potential risks.

On X (formerly known as Twitter), a user named @Asenup4 expressed surprise at OKX’s decision, suggesting it might signal a shift towards centralisation.

He described Pi Network as a "zero-cost mining project" that allows users to mine cryptocurrency via mobile devices with minimal barriers.

However, he raised concerns about the platform's referral-based growth model, suggesting it bears the hallmarks of a potential pyramid scheme.

The protocol noted:

“Overall, Pi intends to be a safe web3 space where Pioneers can have external connections with the Pi they hold.”

Additionally, @Asenup4 highlighted challenges faced by Chinese traders attempting to complete the KYC process, citing limited verification slots and systemic issues.

With KYC completion mandatory for participating in Mainnet activities, delays could prevent users from being approved in time for the token listing.

The KYC grace period, initially set to end on 31 November, was extended twice—first to 31 December, then again to 31 January 2025—due to millions of users yet to migrate their tokens to the Mainnet.

As Pi Network approaches its sixth year of development, many users have transitioned from Web2 to Web3, particularly older participants.

This demographic shift, combined with unresolved KYC issues, has fueled ongoing debate about the project’s future and the implications of its OKX listing.

The user wrote:

“If you want to attract new OKXs [users], please act with caution. Don’t defraud the elderly of their private keys.”