The first quarter of 2025 marked a significant period for Pi Network, highlighted by the launch of Open Network and Pi Coin, as well as entry into the crypto market.
Open Network Launch: February 20, 2025
On February 20, 2025, Pi Network achieved a historic milestone with the official launch of its Open Network. The project transitioned to a fully decentralized system after operating in an enclosed mainnet, where users (Pioneers) mined Pi coins on their phones without trading capabilities. According to project updates, over 9 million users had completed their migration to the mainnet by early January, reaching 10 million by mid-February. The launch was marked by an online event where co-founders Nicolas Kokkalis and Chengdiao Fan shared their goal of making Pi a currency for everyday use.
Pi Coin Launch: A New Era Begins
Pi Coin officially launched alongside Open Network on February 20, 2025. During the enclosed mainnet phase, mined coins held no tradable value, but the launch changed that for verified users. Only Pioneers who completed KYC and migrated their balances could participate. The project extended the KYC and migration Grace Period multiple times, showing strong community effort. However, unverified balances before the six-month migration window were forfeited, prompting discussions among users.
Challenges and Future Outlook
The quarter faced challenges, including mixed reactions to Grace Period extensions. Technical issues like KYC delays and migration bottlenecks arose. Despite optimism within the community, market uncertainty remains, with some traders questioning Pi’s stability after launch.
As Pi Network stands at a pivotal moment, the launch of Open Network and Pi Coin lays a foundation for growth, but overcoming challenges like technical improvements and market confidence will be critical for the project's future.
