Pi Network, a Layer-1 blockchain, officially entered its Open Network phase on February 20, 2025, marking a significant milestone in its ecosystem development. This event coincided with the official launch of Pi Coin (PI) on multiple leading cryptocurrency exchanges.
The PI token began trading on global exchanges on February 20, 2025, at 3:00 PM Western Indonesia Time, with an opening price of $2. Shortly after launch, the price briefly rose to $2.20 before falling below $1.60. According to CoinGecko data, PI recorded a Fully Diluted Value (FDV) of $15.2 billion on its first trading day.
As of now, the PI token is listed on several global exchanges, including OKX, Bitget, MEXC, HTX, and Gate.io.
Open Network Expands Pi Ecosystem
The Open Network phase opens broader access to the Pi Network ecosystem, enabling safer and more flexible interactions with external systems. With this change, users (known as Pioneers) and various businesses within the Pi network now have greater opportunities to maximize the ecosystem's potential.
Since its launch on March 14, 2019, Pi Network has aimed to make cryptocurrency more accessible than Bitcoin. One of the project's key advantages is its eco-friendly mining system, which allows users to mine Pi Coin directly from their mobile phones without requiring high-power hardware like Bitcoin's proof-of-work (PoW) mechanism.
Pi Network relies on the Stellar Consensus Protocol (SCP) and Federated Byzantine Agreement (FBA), enabling users to mine efficiently with minimal power consumption. This model makes Pi more sustainable and accessible to people in various countries.
Ahead of the Open Network launch, Pi Network experienced significant growth. Currently, over 19 million users have completed Know-Your-Customer (KYC) verification, while more than 10.14 million users have successfully migrated to the mainnet, exceeding the initial target of 10 million users.
Additionally, the Pi Network app has been downloaded over 100 million times on the Google Play Store, with high adoption in countries like South Korea and India.
Pi Network's popularity continues to grow globally, supported by an increasingly active community. The official Pi Network account on platform X now has over 3.7 million followers, making it one of the largest community-engaged cryptocurrency projects.
How Pi Network Works
Pi Network operates on a mobile-first approach, allowing users to participate in mining without specialized equipment. The network uses a consensus algorithm that minimizes energy consumption, making it an environmentally friendly alternative to traditional cryptocurrencies.
Users can mine Pi coins by simply opening the app once every 24 hours. The mining rate may decrease as more users join the network, creating a scarcity model similar to Bitcoin's halving mechanism.
The project has implemented a phased approach to development:
- Phase 1: Design and distribution
- Phase 2: Testnet
- Phase 3: Mainnet (current phase)
This structured approach has allowed the network to scale gradually while maintaining security and decentralization.
Trading PI Tokens
With the token now listed on major exchanges, users can trade PI against various cryptocurrencies and fiat pairs. The initial trading activity showed typical volatility for a new listing, with early adopters taking profits and new investors entering the market.
For those looking to trade PI tokens, several platforms offer competitive trading pairs and liquidity. 👉 Explore trading opportunities on major exchanges
Future Developments
The Pi Network team continues to work on enhancing the ecosystem's functionality. Future developments may include:
- Expanded merchant adoption
- Additional utility features within the app
- Enhanced security measures
- Integration with other blockchain networks
The project's roadmap indicates a focus on building a comprehensive ecosystem that supports both individual users and businesses.
Frequently Asked Questions
What is Pi Network?
Pi Network is a mobile-first cryptocurrency project that allows users to mine coins directly from their phones using an energy-efficient consensus mechanism. It aims to make cryptocurrency mining accessible to everyone without specialized hardware.
How do I start mining Pi?
Download the official Pi Network app from your device's app store, create an account, and start mining by simply opening the app once every 24 hours. No special equipment or technical knowledge is required.
When can I withdraw my Pi coins?
Withdrawals became possible after the mainnet launch in February 2025. Users must complete KYC verification and migrate their coins to the mainnet before transacting or trading.
What exchanges list PI tokens?
PI is currently listed on several major exchanges including OKX, Bitget, MEXC, HTX, and Gate.io. More exchanges may add support as the ecosystem grows.
Is Pi Network environmentally friendly?
Yes, Pi Network uses a consensus mechanism that requires minimal energy consumption compared to proof-of-work networks like Bitcoin. This makes it more sustainable and environmentally conscious.
How does Pi Network maintain security?
The network utilizes the Stellar Consensus Protocol combined with Federated Byzantine Agreement, providing robust security while maintaining efficiency and low energy requirements.
The launch of Pi Network's mainnet represents a significant achievement in making cryptocurrency more accessible and sustainable. With its mobile-first approach and environmentally conscious design, Pi Network has the potential to bring cryptocurrency to millions of new users worldwide.