YEREVAN (CoinChapter.com) — Pi Network has confirmed that its Open Network phase will launch on Feb. 20, 2025, at 8 AM UTC. This transition marks the end of the Enclosed Mainnet, which began in December 2021, restricting external access to its blockchain.
Pi Network Open Network Launch. Source: Pi NetworkThe launch will remove barriers that previously limited transactions within the Pi ecosystem. With the firewall lifted, Pi Network will connect with external systems and allow Pioneers to conduct transactions beyond its closed environment. The announcement stated that Pi’s identity-verified user base now stands at 19 million, while 10.14 million users have migrated to Pi Mainnet, surpassing the original 10 million target.
Pi Network’s Open Network Expands Utility
The transition to an Open Network will allow Pi transactions to integrate with external networks and blockchains. According to Pi Network’s statement, the launch was scheduled after the completion of technical, product, business, and legal requirements.
During the Enclosed Mainnet phase, the project focused on KYC verification and platform development. This period allowed time for real applications to be built, ensuring that the Pi ecosystem had operational services at launch.
The network has now reached its technical and migration milestones, allowing Pi to move forward with external connectivity. The Pi team emphasized that the Open Network transition is a step toward real-world use cases for Pi transactions.
Crypto Exchange OKX to List Pi on Launch Day
Following Pi Network’s announcement, crypto exchange OKX confirmed that it will list Pi (PI) on Feb. 20. The platform will offer spot trading for the PI/USDT pair, making it one of the first major exchanges to support Pi transactions.
Pi Network Listed on OKX. Source: OKXWhile the listing may provide an avenue for Pi trading, questions remain about the token’s broader adoption. The success of Pi Network will depend on external integrations and whether it gains acceptance beyond its current ecosystem.
Pi Network Faces Criticism and KYC Delays
Despite the upcoming launch, concerns remain about Pi Network’s operations. Some users have expressed frustration over delays in KYC verification, with many still waiting for approval.
“If I’m not mistaken, been farming Pi since around 2020/2021, was consistent and stopped at a time. It’s been well above 1 year if not 2 years that my KYC on Pi has been pending. This is really sick,”
one user shared on X .
Pi Network KYC Delays Frustrate Users. Source: TheGreatVictorOthers have questioned the expected value of Pi transactions after the Open Network transition, arguing that some users anticipate unrealistic price expectations.
“Pi’s open network will be a disappointment for more than half of the Pi Community as they are expecting unrealistic value,”
another user commented.
Pi Network Under Regulatory Scrutiny
Pi Network has faced investigations in multiple jurisdictions. In 2023, Vietnamese authorities launched an inquiry into the project, raising concerns about its unregulated model and its potential connection to multi-level marketing structures.
The anti-scam platform MASTR has also criticized Pi Network, stating that
“PI Network has nothing to do with the real project and will soon rug.”
The network has denied such claims, maintaining that it is focused on building a functional ecosystem.
MASTR Flags Pi Network as a Scam. Source: MASTRWith the Open Network phase approaching, Pi Network will enter a critical period where its blockchain transactions will be tested beyond the Pi ecosystem. Whether it can gain wider adoption remains uncertain.
The post Pi Network’s Open Network to Launch on February 20 – What Changes? appeared first on Coinchapter.
%%featured_image%%
