Introduction: What is Pi Network?

Pi Network is attracting attention as an innovative project that allows easy mining of crypto assets (virtual currency) from mobile devices. Traditional crypto assets like Bitcoin generally required mining methods that consumed large amounts of electricity and high-performance equipment. In contrast, Pi Network has gained many users (Pioneers) by providing a system that allows anyone to easily start mining through a smartphone app.

9 Million Accounts Migrated to Mainnet, and the Background

According to official Pi Network information and community reports, over 9 million accounts have already completed the migration to Mainnet. This is positioned as an important step towards the release of the Open Mainnet (Open Network). Furthermore, the following indicators are suggested:

• Approximately 987,000 accounts remaining until the target of 10 million accounts
• Total Pi coins migrated: 5 to 5.5 billion (of which approximately 3.96 billion are locked)
• Supporting network stability and sustainability through lock-ups

The large number of 9 million is evidence that Pi Network has built a large global community. It is said that achieving 10 million accounts is close due to the development of an environment that facilitates migration and calls among users.

You can see the number of accounts from Total Account at the top.

 

Open Mainnet: Scheduled for Release in Q1 2025

Pi Network has officially indicated the start time of the Open Mainnet as the first quarter of 2025 (Q1 2025). This is very important from the following aspects:

• Ensuring sufficient time for more users to complete KYC and migrate to Mainnet
• Strengthening the security and reliability of the entire network
• Revitalizing the ecosystem and ensuring liquidity

According to the Pi Network development team, they aim for a state where as many users as possible are participating in Mainnet by the time of the Open Mainnet, and are promoting KYC and accelerating migration procedures.

Challenges and Prospects until Q1 2025

The Q1 2025 timeframe is not just a delay, but also a period for promoting user migration, counteracting fraud, and ensuring network stability. It is believed that by giving each user sufficient time for KYC and migration, the aim is to suppress future confusion and security risks on the Open Mainnet.

Specifically, the following elements are noteworthy:

• Community cooperation system: Build strong Referral Teams and Security Circles to mutually promote migration procedures
• Developer support: Accelerate the implementation of Mainnet-compatible DApps and service verification to improve user experience
• Market liquidity preparation: Expansion of real demand in anticipation of collaboration with major exchanges and wallets

KYC (Identity Verification) and Extension of Migration Deadline

Pi Network is addressing issues such as the exclusion of fraudulent and duplicate accounts through thorough identity verification (KYC). According to community information and some official announcements, the grace period for KYC and migration that was initially planned has been extended, and January 31, 2025 has been suggested as the new deadline.

This is thought to be due to the following reasons:

• Providing migration opportunities to more Pioneers
• Price stability and ecosystem protection through the Pi coin lock function
• Improving the overall network security level and preparing for global expansion

Regarding this extension measure, some users have raised voices asking, “Why is it extended so often?” However, there is a strong view that the management side aims to suppress congestion and security risks on the Open Mainnet while incorporating as many legitimate users as possible.

Market Trends: Attention from Binance and OKX and Future Trading Commencement

It is said that when Pi Network migrates to the Open Mainnet and becomes officially tradable on external exchanges, major exchanges such as Binance and OKX may consider listing it. This is a topic of attention not only within the Pi Network community but also in the entire crypto asset market.

Crypto Exchange OKX Focuses on Pi Network: The Future of Crypto Assets Opened Up by Mobile Mining
Reasons Why Binance is Paying Attention to Pi Network: Secrets and Future Potential of a Revolutionary Cryptocurrency Project

Currently, the price of Pi Network is not clearly determined because official trading platforms are extremely limited. However, after the Mainnet is released, supply and demand relationships in the market will be fully formed, so significant fluctuations in the liquidity and price of Pi coins are expected. How the existence of locked coins will affect the price and volatility is a point to watch in the future.

Summary: Will Pi Network Make a Big Leap in 2025?

The release of the Open Mainnet scheduled for the first quarter of 2025 will be the biggest turning point for Pi Network. Over 9 million user accounts have already migrated to Mainnet, and a total of 5 to 5.5 billion Pi coins have been sent to user wallets. The fact that approximately 3.96 billion of these are in a locked state should be an important factor in network stability and price formation.

Pi Network has developed on a community basis with the philosophy of “mining that anyone can start from a smartphone.” If the possibility of full-scale trading starting increases with the Open Mainnet in Q1 2025, it is expected to bring a new trend to the crypto asset market. Looking at the trend of KYC extensions and migration promotion so far, the next few months to over a year will be a significant preparation period for many users.

It is important to continue checking official Pi Network announcements and community information frequently and to complete KYC and wallet migration procedures early. Let’s prepare now so that you can fully utilize your Pi coins when the Mainnet is released.