Pi Network’s Open Network Launch Nears: Major Milestone or Growing Controversy?

Pi Network is set to launch its Open Network phase on February 20, 2025, enabling external connectivity and real-world applications for millions of users. However, controversy has emerged as OKX confirmed that Pi Network requested trading restrictions in certain regions, including China. While Pi Coin initially surged to $92, skepticism and restricted access concerns have since caused its price to drop to $61.28.

CONTENTS:

• Pi Network Prepares for Open Network Launch on February 20, 2025
• Pi Network to Restrict Trading in Certain Regions, OKX Confirms

Pi Network’s Open Network Launch Nears: Major Milestone or Growing Controversy?

Pi Network Prepares for Open Network Launch on February 20, 2025

Pi Network is set to launch its highly anticipated Open Network phase on February 20, 2025, at 8:00 AM UTC. This marks a major milestone in the project’s six-year development journey. Following the announcement, Pi Coin’s value surged by 80%, reaching $92 within hours, reflecting strong investor and community interest.

In an official statement on X, Pi Network highlighted the significance of this launch, emphasizing that the Open Network will allow millions of KYC-verified users to connect Pi with external systems, enabling real-world applications like never before. The project also acknowledged the collective efforts of the community in reaching this stage.

Pi Network’s Growth and Ecosystem Expansion

The Open Network launch is expected to significantly enhance Pi Network’s utility. With over 19 million verified users—surpassing its initial goal of 10.14 million—the project is well-positioned for broader adoption. Many enthusiasts believe this milestone could positively impact Pi Coin’s market performance, though the future remains speculative.

Key Features of the Open Network Phase

The Open Network phase will introduce external connectivity, allowing Pi Network to interact with other blockchain ecosystems. This upgrade will enable users to conduct transactions beyond Pi’s internal environment. However, participants must complete Know Your Customer (KYC) and Know Your Business (KYB) verifications to ensure platform security and compliance.

Driving Ecosystem Growth

With the completion of the Enclosed Network and Grace Period stages, Pi Network is now focusing on expanding its ecosystem. The Open Network will invite developers and businesses to actively contribute, fostering a more dynamic platform. Currently, the network boasts over 100 Mainnet-ready applications, demonstrating its growing impact in the crypto space.

The success of Pi Network’s future expansion will depend on continued community support, including mining activities, the promotion of Pi-based applications, and real-world transactions. As adoption increases and new applications emerge, Pi Network has the potential to become a significant player in the evolving Web3 landscape.

Pi Network to Restrict Trading in Certain Regions, OKX Confirms

As Pi Network nears its Mainnet launch on February 20, 2025, controversy has emerged over trading restrictions. Crypto exchange OKX has revealed that Pi Network requested an isolated listing mode, which may prevent users in certain regions—including mainland China—from trading or depositing PI coins.

Key Developments

• OKX clarified that the decision to implement trading restrictions originated from Pi Network, not the exchange itself.
• The exact list of restricted regions remains unclear, but speculation suggests China and other areas could be affected.
• The decision has sparked frustration among Pi Network miners, who have been awaiting liquidity access for years.

Community Backlash and Skepticism

The move has fueled further criticism of Pi Network, with many users arguing that restricting access contradicts the project’s initial promise of inclusivity. Some have labeled the isolated listing mode a red flag, suggesting it could impact trading volume and market liquidity. A user on X (formerly Twitter) with the handle “FOMO HUNTER” questioned the strategy, warning that such restrictions could have significant consequences.

Skeptics have long criticized Pi Network for delays and a lack of transparent communication. Concerns over the Know-Your-Customer (KYC) process and limited exchange support have also added to doubts about the project’s legitimacy. ByBit CEO recently dismissed requests to list PI, stating that it was “the last thing he wants to deal with.”

Market Impact

Following the announcement of Pi Network’s Open Network phase on February 12, the PI [IOU] price surged above $93. However, amid the latest controversy, the price has since dropped by double digits, falling to $61.28 at the time of writing.

Despite mounting concerns, Pi Network has yet to issue a public statement addressing OKX’s confirmation that the restriction request came directly from them.