The launch of the mainnet of Pi’s Open Network has finally been announced.
The launch will begin at 8:00AM UTC on February 20, 2025 with the start of the transition of Pioneers and Pi Network into Open Network.
The mainnet of the Open Network of Pi
The development work of the mainnet of the Open Network di Pi lasted a full six years.
Now, finally, the Pi community is taking a step forward in achieving the vision of Pi’s peer-to-peer ecosystem.
In the meantime, 10.14 million Mainnet migrations have been reached, surpassing the initial target of 10 million, thanks to the updates announced in the latest update.
Now Pi is ready to open its utility-based ecosystem, with more than 19 million Pioneers with verified identities who will be able to use it.
The development of Pi Open Network: the mainnet finally announced
The journey of Pi Network towards Open Network has passed through milestones and deliberate phases guided by the Pioneers, the ecosystem, and the community.
The current Mainnet Phase 3 began in December 2021 with the launch of the Enclosed Network period, with the Mainnet active but with a firewall preventing any external connectivity. During this period, Pioneers completed KYC and obtained Pi on Mainnet, developers created apps for the Pi ecosystem, and the Core Team created and improved various features and utilities.
In March 2022, a new reward issuance formula for mining was released, following a decreasing exponential model that balances the need for growth, accessibility, longevity, and scarcity of the network, properly sizing the Pioneers’ rewards for their contribution to the network.
The Grace Period, on the other hand, was promulgated on July 1, 2024, to accelerate progress towards Open Network and find a balance between providing Pioneers with adequate time to pass the KYC and be eligible to obtain Pi on Mainnet, and creating sufficient incentives for people to encourage them to pass the KYC and migrate towards Open Network.
In this period in which the Mainnet has been effectively inaccessible, the Pioneers have been able to make transactions within the network.
The launch of Pi Open Network
The launch of the Open Network will bring some important changes, such as external connectivity and the Pi level 1 blockchain, creating an environment where Pi can securely connect to external systems.
In this way, the Pionieri will be able to carry out transactions outside the Pi ecosystem as well.
The Open Network di Pi should not be confused with The Open Network (TON) di Telegram, because they are two completely distinct and different things.
After the launch of Open Network, the firewall will be removed, so technically anyone could add nodes to the blockchain. Additionally, the Core Team will gradually invite Pioneers to transfer their nodes from the Testnet to the Mainnet via the desktop node user interface, prioritizing those with strong historical contributions and reliability scores.
To maintain a secure and compliant ecosystem, participation in Mainnet activities will require KYC (Know Your Customer) verification for Pioneers, and KYB (Know Your Business) verification for businesses.
The cryptocurrency $PI
Pi Network has its own native token, PI.
However, since the mainnet is not yet open, this token is currently tradable only within the Pi Network, and not on crypto exchanges.
Once the Mainnet is open, in theory, it can also be listed on the exchanges.
This means that currently a market value for the Pi token cannot be identified, even though technically having its own Mainnet it should be considered in all respects a native cryptocurrency, and not a simple token.
It should be noted, however, that on various DEX there are Pi tokens that can be bought and sold, but they are only homonymous tokens, and not the cryptocurrency of Pi Network.
If the true cryptocurrency of Pi Network is listed on any exchange, whether centralized or decentralized, it will finally be possible to verify its market value.
