Pi Network: The Truth About ‘KYC Expiration’ and What Happens to Unverified Accounts’ Pi Coins – An Analysis Based on Official Information

Within the Pi Network user community, information is circulating that the “KYC (Know Your Customer) application deadline has passed” and “unverified accounts will lose their coins.” Many may feel anxious about the fate of their assets. Meanwhile, encouraging rumors like “the Open Mainnet has launched” are also being heard.

For those seeking to verify the truth amidst conflicting information, this article objectively analyzes the latest situation regarding Pi Network’s KYC, based on reliable external sources and official announcements. Reading this article will help you accurately understand the current status and build a foundation for calmly deciding what actions to take now.

At the Heart of the Discussion: The Truth Behind the Claim “KYC Ended on March 14, 2025”

First, let’s explain the date “March 14, 2025,” which has garnered significant attention within the community. This date was indeed a crucial milestone for Pi Network. According to multiple sources, this day was widely announced as the “final deadline for the grace period” for KYC and migration procedures, allowing users to transfer their mined Pi to the Mainnet (the live, operational network).

While this is slightly different from a declaration that “no new KYC applications will be accepted ever again after this date,” it is true that completing identity verification by this deadline was extremely important for securely retaining the Pi coins mined up to that point. The setting of this deadline is positioned as a crucial step to advance the project to its next phase.

What Happens to Mined Pi Coins If KYC Is Not Completed?

So, if KYC was not completed by the deadline, will the mined Pi coins truly be “forfeited”?

According to information closely aligned with official policy, Pi remaining in accounts with uncompleted KYC may eventually be invalidated and reallocated as incentives for the active, verified community. This is not merely a punitive “forfeiture.” This measure has clear objectives to protect the project’s integrity, such as:

Elimination of Fake Accounts: Prevents one individual from unfairly earning coins through multiple accounts.
Maintenance of Network Fairness: Ensures assets are distributed to genuine users (Pioneers) who are actually active and contributing.
Ensuring Security: Protects the entire network from misuse and attacks.

In other words, this mechanism is a measure based on logical judgment, intended to maintain the long-term value and trustworthiness of the entire ecosystem.

[By Situation] Your KYC Status and What You Should Check Now

Your future outlook and interpretation will vary depending on your current situation. Here, we organize the current status into three main cases.

Case 1: Applied Before the Deadline, But Still “Pending Approval”

Many may have applied for KYC before March 14, 2025, but their status remains “under review” or “pending approval.” In that case, there might be no need for excessive worry.

Pi Network is a massive community of tens of millions of users, processing an enormous number of applications using a combination of manual and automated systems. Therefore, it is expected that the review process will take time. Although not officially confirmed, it is believed that applications submitted before the deadline are still being processed. The basic stance is to wait patiently for your status to be updated within the app.

Case 2: KYC Already “Approved”

Those who have successfully passed KYC have gained the right to fully participate in the Pi ecosystem. Specifically, by progressing through the items on the “Mainnet Checklist” within the Pi app, you can migrate your Pi to your Mainnet wallet.

Here’s one important point: while there’s information circulating that “the Open Mainnet has launched,” this is not accurate at present. As of 2025, Pi Network is in the “Enclosed Network” phase. This means that while Pi’s blockchain is operational, it is intentionally not connected to external exchanges or other blockchains. Approved users can engage in the following activities within this closed network:

Sending and receiving Pi among users.
Making payments and using compatible applications (DApps) developed on the Pi Browser.

Listing on external exchanges or exchanging with other cryptocurrencies requires waiting for the next “Open Mainnet” phase.

Case 3: Missed the Opportunity to Apply for KYC

There may be some who missed the KYC application by the deadline or haven’t had the opportunity to apply at all yet. While hopeful speculation about a “second wave of KYC” is whispered within the community, there are currently no such official announcements.

However, it is also suggested that the path is not entirely closed. Pi Network is showing signs of expanding participation in its ecosystem, such as partnering with external KYC service providers (e.g., Banxa) and piloting new wallet creation flows. While there’s a non-zero possibility that additional identity verification opportunities might be provided in some form in the future, it remains uncertain. For now, we can only wait for official announcements from Pi Network.

Is “Open Mainnet” Still Distant? Three Conditions for Migration

The key to the project’s ultimate success lies in the migration to the “Open Mainnet.” This will be the first time Pi connects with external economic spheres, theoretically enabling listing on exchanges. However, the core team has shown a very cautious approach to this transition and has officially announced that the following three conditions must be met for migration:

Readiness of Technology, Product, Business, and Legal Aspects: The network must possess stability and security capable of withstanding external connections, and legal issues must be cleared.
Ecosystem Goal Achievement: The number of KYC-completed users, users migrated to the Mainnet, and practical Pi apps must reach the set targets.
Absence of Unfavorable External Environment: The global situation should not hinder the project’s success, avoiding global economic crises, wars, or the introduction of stringent regulations.

As these conditions indicate, Pi Network prioritizes building a sustainable ecosystem with practical value, rather than merely aiming for speculative price increases. The transition to Open Mainnet will occur only after all these preparations are complete.

Conclusion: What Pi Network Users Should Keep in Mind Now

The series of developments regarding the KYC deadline is a crucial step for Pi Network’s transition to its next phase. Finally, here’s a summary of points for all users to keep in mind to calmly assess this situation.

KYC is an unavoidable “key” to fully participating in the Pi ecosystem. And the most accurate information regarding this key will always be communicated directly from official sources.

Instead of fluctuating between joy and anxiety based on community rumors and unofficial information, prioritizing Pi Network’s official blog, official social media, and in-app announcements as primary sources of information is paramount to protecting your valuable assets.

First, open your Pi app and re-check your current KYC status. And for future developments, let’s carefully monitor announcements from official sources.

What is the Pi Bank Concept? The Role and Challenges of a ‘Bank’ Shaping Pi Network’s Value and Future

Pi Network, which has formed a huge global community by allowing users to easily participate in mining via smartphones, is currently drawing attention to a grand “concept” within its community: the “Pi Bank.”

If a reliable “bank” for the Pi you mine daily were to emerge, how would the future of Pi change? This article objectively and clearly unravels the entire “Pi Bank Concept,” which is actively discussed within the community, from its anticipated roles to the challenges it must overcome, from multiple perspectives.

What exactly is the “Pi Bank Concept”?

First, let’s clarify what the “Pi Bank Concept” currently discussed in the community entails. The most important point here is that this is not an official project announced by the Pi Core Team, but rather an idea in its “conceptual” stage, discussed within the community and reported by some news sites.

This concept is based on the idea of establishing a kind of “governing body” or “financial institution” to make Pi’s vast ecosystem more stable and reliable. It’s a natural progression for a project to require more organized operation and value stability as it matures, and the Pi Bank Concept can be seen as anticipating such future needs.

Three Specific Roles Expected of Pi Bank

So, if a Pi Bank were to be realized, what specific roles would it play? Analyzing the current discussions, it is primarily expected to perform three functions: “governance,” “value stability,” and “financial services.”

① Governance Function as the “Central Bank” of the Ecosystem

Currently, important news regarding the Pi Network project is disseminated through various channels such as the official app and social media. The Pi Bank is expected to consolidate this information and serve as a single, reliable official source of information. This is similar to how a country’s central bank (like the Bank of Japan) issues official statements on currency matters. The presence of a unified governance body would enhance the overall transparency and reliability of the project, allowing users and external partners to participate in the ecosystem with confidence.

② Role as a “Stabilizer” to Maintain Pi’s Value

Cryptocurrency prices are known for their high volatility. The Pi Bank Concept discusses its role as a “stabilizer” to keep Pi’s value within a certain range. Specifically, it involves holding fiat currencies like the US dollar or other assets as “reserves” and using these reserves to back and stabilize Pi’s value.

This mechanism is similar to that of stablecoins like “USDT” and “USDC,” which are designed to always be worth 1 dollar. If Pi’s value becomes stable, it would be easier to use for daily payments and remittances, potentially accelerating its adoption as a practical currency.

③ Provision of Financial Services such as Staking and Lending

The Pi Bank also has the potential to become a platform offering various financial services utilizing Pi. Two representative examples include:

Staking: A mechanism where users can deposit their held Pi with the Pi Bank for a certain period and receive new Pi as a return, similar to interest. This can be understood as akin to a bank’s “fixed deposit.”
Lending: A mechanism allowing users to borrow other cryptocurrencies or fiat currencies using their held Pi as collateral. This can be imagined as the cryptocurrency version of a “real estate-backed loan.”

If these functions are realized, users will have avenues to actively utilize Pi as an asset, rather than just holding it.

The Biggest Debate: The Contradiction Between Decentralized Network and a “Bank”

The most important and contentious aspect of this concept is its relationship with the Pi Network’s stated philosophy of “decentralization.” How can a centralized “bank” reconcile with this philosophy?

The core principle of blockchain technology, “Decentralized,” means that there is no specific administrator or central authority; instead, all network participants manage and maintain the system. Its greatest feature is the ability for individuals to freely exchange value without needing centralized entities like banks or governments.

Introducing a seemingly centralized entity like “Pi Bank” might appear to be a self-contradiction. Who would manage and operate this “bank”? The Pi Core Team, or representatives (such as validators) elected by community vote?

There is no clear answer to this question yet. If the Pi Bank were entirely controlled by the Pi Core Team, the Pi Network might no longer be considered decentralized. On the other hand, if it adopted a form like a “DAO (Decentralized Autonomous Organization)” where operational policies are decided by community vote, stable operation might be possible while preserving the decentralized ethos. Finding the right balance will be the greatest key to realizing this concept.

The Light and Shadow Pi Bank Brings to Pi’s Price and Future Prospects

What potential impact could the realization of Pi Bank have on Pi’s value and future prospects? Let’s examine both the anticipated benefits (light) and potential drawbacks (shadow).

Light (Benefits): Trust and Ecosystem Development

If governance is strengthened and value is stabilized by the Pi Bank, the overall reliability of the project will dramatically improve. This could lead to positive developments such as:

Listing on major exchanges: World-leading cryptocurrency exchanges like Binance and Coinbase prioritize project transparency and stability in their listing evaluations. The existence of a Pi Bank could be a strong factor supporting listing on these exchanges.
Partnerships with corporations and institutions: When large corporations and financial institutions partner with blockchain projects, they seek clear accountability and a currency with stable value. The Pi Bank could serve as a bridge to such external partners.

Shadow (Drawbacks): Will the Dream of Rapid Price Increase (GCV) Disappear?

On the other hand, value stability could distance some users from their dreams. A portion of the community passionately discusses a target called “GCV (Global Consensus Value, such as 1 Pi = $314,159).”

However, if the Pi Bank aims to peg (fix) Pi to a stable value like a stablecoin, such an explosive price increase is logically impossible. Is it better to prioritize practicality as a “means of payment” or speculative appeal as an “asset”? This is a kind of trade-off that the Pi Network community faces.

Technical and Institutional Challenges Towards Realizing the Concept

To realize this ambitious concept, many technical and institutional hurdles must be overcome. If smart contracts (self-executing contract programs) have vulnerabilities (bugs), there’s a risk of assets being stolen through hacking. Furthermore, challenges abound regarding how to securely manage the reserves for value stabilization, and how to clear legal regulations in various countries (especially those concerning finance).

Moreover, as a prerequisite for these discussions, the Pi Network’s own infrastructure needs to be fully developed. Many users still face delays in the KYC (Know Your Customer) process and the full mainnet opening. Resolving these immediate issues is indispensable first.

Summary: The Pi Bank Concept as a Litmus Test for Pi Network’s Maturity

The “Pi Bank Concept” is currently just a community-driven idea, and its feasibility is uncertain. However, the very fact that this concept is actively discussed indicates that the Pi Network is maturing from a mere mining app into a full-fledged economic ecosystem with practical utility.

This concept poses a fundamental question to us, one that many cryptocurrency projects face: how to find the optimal balance between the blockchain ideal of “decentralization” and the real-world demands for “governance and stability.”

As Pioneers (Pi Network users), it’s crucial not to be swayed by uncertain information but to always verify primary information from the Pi Network’s official website and social media, and to think independently about the project’s future. Let’s observe how the Pi Bank Concept develops calmly and carefully.

Will Pi Network Launch Open Mainnet on June 28, 2025? An Objective Look at the Founder’s Announcement and 5 Key Takeaways

Introduction: Why Pi Network is Gaining Attention Again

Pi Network, a cryptocurrency project long awaited by many participants dubbed ‘Pioneers,’ has recently seen a surge in global anticipation. This follows a statement from one of its co-founders, fueling speculation that the Open Mainnet might finally launch on June 28, 2025.

Why is this announcement significant now? This article delves into the core of the statement, objectively analyzing the five plans indicated by the project. We aim to clarify the ‘present’ and ‘future’ of Pi Network in an easily understandable way.

What is Pi Network, Anyway?

To understand this news, let’s first briefly review what Pi Network is.

Pi Network is a cryptocurrency project launched in 2019 by Stanford University graduates Dr. Nicolas Kokkalis and Dr. Chengdiao Fan. Its most distinctive feature is that it allows users to easily participate in mining (the process of acquiring new coins) through a smartphone app, without the need for high-performance equipment. This accessibility has attracted many participants, but until now, the network has remained in a ‘closed mainnet’ phase, isolated from external blockchains.

The Core: What Will Happen on ‘Pi Day,’ June 28, 2025?

The origin of the buzz was a hint from co-founder Dr. Chengdiao Fan, suggesting that ‘something big will happen on Pi Day, June 28, 2025.’ This date could potentially be a decisive turning point for the project.

The community’s highest expectation is the transition to an ‘Open Mainnet.’ This is an extremely crucial step for Pi Network to advance to its next stage.

【What is an Open Mainnet?】
In short, it means ‘transitioning from a closed testing environment to a public, open production environment accessible to anyone.’ Currently, coin transactions can only occur within the Pi Network. However, an Open Mainnet would open the way for trading Pi on external cryptocurrency exchanges and allow developers to freely build applications (DApps) on the Pi blockchain.

However, it’s important to note that there has been no official confirmation from Pi Network that the Open Mainnet will launch on June 28, 2025. June 28 is an annual community event day known as ‘Pi2Day,’ and the current situation is that anticipation for some significant announcement on this day is high.

The Founder’s ‘Five Major Transformations’: Key Points of the Plan Explained

This announcement hinted at five significant plans associated with the Open Mainnet transition. Each of these is a crucial factor in forecasting Pi Network’s future.

1. Tens of Millions of Pioneers: The Power of a Vast Community

The project claims to have a massive user community (Pioneers) numbering over tens of millions worldwide. This ‘network effect’ is one of the most important assets for increasing the value of a currency or service. On the other hand, there are reports that the actual number of users who have completed Know Your Customer (KYC) verification and migrated to the mainnet is more limited than the total user count publicly stated.

2. Full-Scale Launch of DApps and Nodes: Birth of a Unique Economic Ecosystem

The transition to an Open Mainnet signifies the full-scale operation of DApps (Decentralized Applications) and Nodes (computers supporting the network). This means the ‘foundation’ for various independent services—such as games, finance, and social media—to emerge on the Pi Network will be complete.

3. Integration with the Real Estate Sector: Ambition for Expanded Real-World Use

Particularly noteworthy is the plan for integration with the real estate sector. The concept of enabling real estate transactions using Pi Coin is highly ambitious, but if realized, it would significantly boost Pi’s practical utility.

4. Preparation for Listing on Major Exchanges: Towards Establishing Market Value

What many Pioneers eagerly await is the listing of Pi Coin on major cryptocurrency exchanges. If listed, Pi Coin would gain its first public market value, making it tradable by a wider audience.

5. Strengthening Global Community Cohesion

The project repeatedly emphasizes that the strength of a robust global community is essential for the success of these major transformations.

Objective Perspective: Pi Network’s Current Status and Future Outlook

While strong anticipation surrounds the project, it’s also crucial to calmly assess its current status. Pi Network has been under development for many years, with the community closely watching its progress.

According to information officially provided by Pi Network, the transition to an Open Mainnet requires clearing multiple conditions:

Completion of technical, product, business, and legal preparations
Achievement of network KYC (Know Your Customer), mainnet migration, and utility goals
Stability of the external environment

While ambitious plans are presented, their realization hinges on meeting these stringent conditions.

Conclusion: Will Pi Network Be the ‘Next Crypto Revolution’?

The recent announcement by the founder suggests that Pi Network stands at a critical juncture for the project. There’s a strong possibility that ‘Pi Day,’ June 28, 2025, could become a historic day.

However, its true value depends on how concretely and steadily the announced plans are executed. The term ‘revolution’ only becomes a reality when accompanied by results.

To assess Pi Network’s future potential, it’s crucial to continuously pay attention to primary information officially released in the future, without being swayed by temporary hype. Furthermore, calmly examining what that information means from multiple perspectives and establishing your own criteria for judgment will be the most important stance when engaging with the future of the cryptocurrency world.

Pi Network: An Expert Analysis of its Current Status, Open Mainnet Migration, and True Value

Introduction: The “Hype” Versus “Reality” Surrounding Pi Network

The “Pi Network” has garnered significant attention for allowing users to obtain cryptocurrency with just a smartphone, forming a massive global community. As 2025 unfolds, its trajectory is entering a new phase.

On social media, seemingly miraculous success stories are circulating, such as an Indian farmer buying a smartwatch for his son with saved Pi, or someone acquiring a laptop using Pi. These tales have steadily amplified expectations for the project. Are these truly indicators that Pi Network has finally triggered a “digital revolution” with real-world value?

This article aims to explore what lies behind such fervent expectations, analyzing objective facts based on reliable sources without being swayed by mere rumors or speculation. Our goal is to provide a clear compass for accurately understanding Pi Network’s “now” and envisioning its future.

What Exactly is Pi Network?

To understand Pi Network’s current status, it’s crucial to first grasp its fundamental mechanism and purpose. Here, we will clearly explain its core concepts.

Concept: A Project Aiming for “Cryptocurrency Accessible to Everyone”

Pi Network was launched in 2019 by a team holding PhDs from Stanford University. Its primary vision is to create a decentralized digital currency that anyone in the world can easily participate in with just a smartphone, without requiring specialized knowledge or expensive equipment, unlike Bitcoin.

Mobile Mining Mechanism and Two Network Phases

When you hear “mobile mining,” you might imagine complex calculations that drain your battery. However, Pi Network’s mechanism is different. Unlike Bitcoin’s “Proof of Work” (proof by computation), it employs a unique algorithm based on trust relationships among users (rooted in the Stellar Consensus Protocol). This allows users to contribute to maintaining network security with simple actions, such as tapping a button on the app once a day, and receive Pi as a reward.

The project has progressed through two major phases:

Enclosed Mainnet: A “walled garden” network where Pi transactions are restricted to Pi Network’s applications and services. There is no connection to the external world.
Open Mainnet: The phase where the “walls” are removed, allowing Pi to connect with external blockchains and exchanges. This enables Pi to be exchanged for other cryptocurrencies or fiat currencies.

Fact Check: The Truth Behind the “Historic Update” in 2025

As 2025 began, Pi Network reached a significant milestone. Let’s examine the claims of a “historic update” circulating within the community, comparing them against objective facts based on official announcements and reliable sources.

Claim ①: Has the Open Mainnet Finally Launched? → Fact: Migration Has Begun, but Challenges Remain

Multiple sources report that Pi Network began its migration to the Open Mainnet around February 20, 2025. This marks the project’s most significant development, signifying that the technical gateway for Pi to break free from its enclosed ecosystem and connect with the external economy has opened. Consequently, Pi trading has commenced on some exchanges.

Claim ②: Is KYC 100% Complete? → Fact: Target Surpassed, but Not All Users Are Verified

KYC (Know Your Customer) is a crucial process for eliminating fraudulent accounts and maintaining network integrity. According to official information, over 18 million users have completed KYC, surpassing the initial target of 15 million. However, this does not mean all users have completed it; many are still awaiting the completion of their KYC process. Issues such as authentication delays and difficulties in completing the procedure remain significant challenges for the community.

Claim ③: Can Real-World Goods Be Purchased with Pi? → Fact: Primarily Limited to P2P Transactions

The claim that “you can buy things with Pi” is not entirely false. However, it’s essential to understand the true situation. Currently, there isn’t an official, large-scale marketplace like Amazon.

Transactions are primarily conducted in the following ways:

User-Initiated Marketplaces: Users buy and sell goods or services with Pi on applications developed within the Pi Network ecosystem, such as “PiChain Mall” and “Barter Mall.”
P2P (Peer-to-Peer) Transactions: Direct transactions between individuals or at a limited number of local stores that are experimentally implementing Pi payments.

Therefore, it’s an objective assessment to recognize that the project has not yet reached the stage where “anything can be freely purchased,” and transactions remain limited.

Item	Official Status (As of June 2025)	Community Expectations/Rumors
Open Mainnet	Reported migration began around February 2025. Trading possible on some exchanges.	Strong expectations of a “historic update” and “start of a revolution.”
KYC (Identity Verification)	Over 18 million completed, meeting the target, but not all users are verified; many challenges remain.	Increasing reports of completion, but also complaints from unverified users.
Physical Stores/Product Payments	No official large-scale marketplace. Primarily user-to-user (P2P) transactions or usage in unofficial malls.	Success stories like “buying a car with Pi” or “purchasing daily necessities” seen on social media.

Where Does Pi Network’s “Value” Originate?

What many people most want to know is, “Does Pi truly hold value?” We will delve into the mechanisms by which cryptocurrency value is formed and the ecosystem Pi Network aims to build.

The value of a cryptocurrency is not solely determined by price fluctuations. Its intrinsic value emerges from how “practical” its technology is and how widely it is “utilized” by people and services.

The source of Pi Network’s value can primarily be summarized by the following three elements:

Realization of Open Mainnet Migration: This enabled Pi to connect with external economies for the first time, making it exchangeable with other cryptocurrencies or fiat currencies. This was an absolute prerequisite for Pi to transition from a “closed point system” to an “asset.”
Utility and Ecosystem Development: The key to increasing value will be how many online stores accepting Pi payments and useful applications (DApps) built on Pi emerge in the future. Value is only created when there are attractive use cases that make people think, “I want to do this with Pi.”
Massive Community and Network Effect: The existing active user base of tens of millions is Pi Network’s greatest strength. This immense user base can act as a powerful driving force, attracting new service developers and expanding the ecosystem.

Conclusion: Pi Network’s Future Outlook and Our Recommended Stance

Based on the analysis above, we will conclude on Pi Network’s current status and future.

Undeniably, Pi Network has taken a significant step by migrating to the Open Mainnet in 2025, entering a new stage of its grand social experiment. However, it has not yet reached the stage of a “completed digital revolution where anyone can buy anything,” as often circulated in background information. The project is still under development and faces numerous challenges.

Its future prospects depend on the following points:

Improved liquidity and trustworthiness through expanded listings on major cryptocurrency exchanges.
Expansion of practical applications and partner services that users genuinely want to use.
Smooth resolution of the remaining users’ KYC issues and the ability to encourage overall community participation.

The wisest stance for those interested in this project is to calmly follow official information without being misled by hype or rumors. We strongly recommend checking the latest updates on the official Pi Network app or blog. Engaging with primary sources and monitoring the project’s progress with your own judgment will be the most crucial approach to discerning its future value.

[In-depth Explanation] What is Pi Network’s “.pi Domain”? A Clear Explanation of its Potential as a New Asset in the Web3 Era

“Pi Network,” which has garnered global attention for allowing smartphone mining, has announced a new feature called “.pi domain.” This feature holds the potential to significantly impact the future of the ecosystem and has caused great excitement within the community.

When you hear “domain,” you might think of website addresses like “example.com,” but the .pi domain signifies much more. It could become your new “digital identity” in Web3 (Web3), which will form the foundation of the coming digital society.

In this article, we will explain the following topics in a way that allows even those without specialized prior knowledge to understand deeply and accurately:

Why are “Web3 domains” currently attracting global attention?
What is the true value of the “.pi domain” announced by Pi Network?
How will owning it change our digital lives?

Why Are Web3 Domains Gaining Attention Now?

To understand the innovation of the Pi domain, let’s first look at the larger trend of “Web3 domains” that underpins it. By understanding why this is important for the modern internet, the true value of the Pi domain becomes clear.

The domains we commonly use, such as “example.com” or “example.jp,” are managed by a system called DNS (Domain Name System). While highly convenient, this is a “centralized” system managed by specific companies or organizations.

In contrast, Web3 domains are characterized by their ability to allow individuals to directly manage domain ownership using blockchain technology (a decentralized, tamper-proof digital ledger monitored by everyone). A prime example of this is “ENS (Ethereum Name Service)” on the Ethereum blockchain.

With the advent of ENS, users can now use human-readable names like “yourname.eth” instead of long, complex wallet addresses starting with “0x…”. This not only added convenience but also created a new digital asset market where domains themselves become personal assets (NFTs) that anyone can freely buy and sell.

The Core of Pi Network’s “Pi Domains”

Now, let’s delve into the main topic: Pi Network’s “Pi Domains.” How does this work, and what changes will it bring to us, the Pi users?

Officially announced on “Pi Day,” March 14, 2025, the purpose of this new feature is very simple yet powerful: just as ENS achieved on Ethereum, it aims to replace Pi Network’s long and complex wallet addresses with human-memorable and user-friendly names like “yourname.pi.”

This is expected to dramatically smooth and secure various activities within the Pi Network ecosystem (economic sphere), such as sending and receiving Pi coins, and using the many services that will emerge in the future.

How the .pi Domain Works and the Benefits We Gain

How exactly do .pi domains function, and what advantages do we gain by owning them? Here, we will explain their mechanism and specific benefits across three key points.

Mechanism: “Your Property” Guaranteed by Blockchain

The .pi domain functions as a type of NFT (Non-Fungible Token) managed on the Pi blockchain. This ensures that once acquired, ownership of the domain is strongly protected by the blockchain, making it “your asset” that cannot be taken away by anyone. The acquisition method employs an auction (bidding) system using Pi coins, where the highest bidder secures the domain.

Benefit 1: Convenience – Error-Free, Easy Transactions

The biggest advantage is the overwhelming improvement in convenience. Previously, one of the most careful tasks in cryptocurrency transfers was accurately copying and pasting long, complex wallet addresses. However, with a .pi domain, you can simply type “friend.pi” when sending Pi to a friend, dramatically reducing the risk of erroneous transfers.

Benefit 2: Identity – Your “Signboard” in the Pi World

The .pi domain will serve as a unified “digital identity” to identify you in various dApps (decentralized applications) and online stores that will be developed within the Pi ecosystem. This can act as your “signboard” or “business card” in the Pi world, similar to a brand name for a business or a personal nickname.

Benefit 3: Asset Value – An Investment in the Future

Just as domains like “amazon.eth” and short, memorable words were traded at high prices on ENS, highly sought-after or easily remembered short .pi domains hold the potential to become valuable assets in the future. Acquiring a desirable domain early can be seen as an investment betting on the growth of the Pi Network.

Community Reaction and Future Outlook

The advent of new technology always brings vitality and discussion to the community. As seen by the buzz in the Indonesian community regarding a prominent account named “Wira PI” reportedly acquiring a domain after the .pi domain announcement (according to source information), users worldwide are showing very high interest in .pi domains.

Such community reactions are evidence that many users perceive “value” and “potential” in the .pi domain that goes beyond mere convenience. In fact, according to official announcements, hundreds of thousands of bids have already been placed, indicating the community’s enthusiasm.

Moving forward, as the Pi ecosystem transitions to the open mainnet and expands further, it is expected that this domain will be used in an even wider variety of applications than we can imagine, including payments, dApp logins, and website publishing.

Summary: Will Pi Domain Be an Accessible Gateway to Web3?

Let’s review the key points of this article:

The .pi domain is a significant step towards resolving Web3 complexity and making blockchain technology more accessible.
It is not just an alias for an address; it is your “digital identity” within the Pi ecosystem itself.
Owning it offers three major benefits: “increased convenience,” “establishment of identity,” and “potential for asset value.”

Of course, the ultimate success of the Pi Network project is not yet guaranteed. However, the .pi domain initiative, spearheaded by this massive project with tens of millions of users worldwide, holds significant potential to become the most accessible gateway for many people to genuinely experience the Web3 world for the first time.

For those interested in the trends of this new digital asset, it is recommended to regularly check the latest information from Pi Network’s official app and website, while being cautious of fraudulent information.

Is Pi Network’s ‘$314,159 per Pi’ (GCV) Claim Real? A Deep Dive into Market Reality and Future Prospects

Pi Network has built a massive global community due to the ease with which users can ‘mine’ via their smartphones. Within this community, a grand vision is now being passionately debated: the astonishing value target of ‘$314,159 per Pi’, commonly known as ‘GCV’.

Is this number truly a feasible future, or is it merely a fantasy born of hope? This article delves into the core of the GCV debate surrounding Pi Network, objectively unraveling its value and future from the perspective of data and market realities.

What exactly are Pi Network and GCV (Global Consensus Value)?

In this section, we will explain the basic concepts of Pi Network and GCV, which are the prerequisites for this discussion. Let’s understand the background that gives rise to such debates.

The Basic Concept of ‘Pi Network’ – Mining with a Smartphone

Pi Network is a cryptocurrency project initiated by a team holding PhDs from Stanford University. Its biggest feature is that anyone can easily participate in ‘mining’ through a smartphone app, without requiring expensive specialized equipment or significant electricity. This accessibility has been the driving force behind building a user base of tens of millions worldwide.

However, it is crucial to note that Pi Network is currently in a ‘closed mainnet’ phase. This means that free trading on external, general cryptocurrency exchanges is not permitted; usage is only allowed within Pi’s enclosed blockchain ecosystem.

‘1 Pi = $314,159’ – The Origin of GCV and Community Enthusiasm

GCV (Global Consensus Value), as its name suggests, refers to a ‘global consensus value’ and is an unofficial target price advocated by a part of the Pi Network community. Specifically, a value of $314,159 per Pi Coin has been set.

This seemingly outlandish number comes from the mathematical constant ‘Pi (π ≈ 3.14159…)’, which is also the origin of the project’s name. In other words, GCV is not based on economic analysis but rather is a ‘catchphrase’ born from the community’s passion for the project’s success and serving as its symbol.

Why are Experts Skeptical of GCV? – 3 Perspectives from Market Reality

While community enthusiasm is commendable, many economic and market experts view the feasibility of GCV with skepticism. In this section, we will analyze the specific reasons from three perspectives.

Perspective 1: The Market Cap Hurdle – An ‘Impossible’ Figure Exceeding Global GDP

One indicator used to measure the value of a cryptocurrency is ‘market capitalization’, calculated as ‘currency price × circulating supply’. Pi Network’s maximum supply is stated as 100 billion Pi. Let’s assume GCV were to be realized and calculate the market capitalization:

$314,159 (GCV Price) × 100,000,000,000 (Max Supply) = Approx. $31.4 Trillion

To grasp just how enormous $31.4 trillion (over 30 quadrillion dollars) is, a comparison with other economic indicators makes it clear:

Total Global Annual GDP (2025 forecast): Approx. $113 Trillion
Total Cryptocurrency Market Cap (as of May 2025): Approx. $2.7 Trillion to $3.1 Trillion

This means that Pi Network alone would account for roughly 1/4 of the wealth generated globally and would be more than 10 times the size of the entire current cryptocurrency market. This is an extremely unlikely scenario from an economic reality standpoint.

Perspective 2: ‘IOU Trading’ Shows a Sober Market Valuation

Some might say, “But I’ve seen Pi being traded on some exchanges.” However, these are not actual Pi Coins but rather what are called ‘IOUs (I Owe You)’.

An IOU is like a promissory note: “We will deliver real Pi Coins when the open mainnet is launched in the future.” The current IOU prices on several exchanges are trading at less than $1, a stark contrast to the $314,159 dreamed of by the community. This can be considered a more sober valuation placed on Pi by current market participants.

Perspective 3: Discrepancy with Pi Core Team’s Official Stance

Most importantly, GCV is merely a goal put forth by a segment of the community, and it has not been set by the Pi Network’s developers, the Core Team. The Core Team has consistently stated that “the value of Pi will be determined by market supply and demand once it transitions to the open mainnet.” There is a clear divergence between the project’s official policy and the enthusiasm of a portion of its community.

Where Does Value Originate? – Thinking Through a Comparison with Bitcoin

This section explores how value in digital assets is created by comparing Pi Network with Bitcoin, which is already recognized in the market.

Bitcoin: Over a Decade of History and Proven Track Record

As the world’s first cryptocurrency, Bitcoin has overcome many technical and social challenges over more than a decade of history. Its transparent decentralized mechanism and the reliability that it cannot be tampered with have gradually built its foundation of value.

Trust and Utility Create Value

Ultimately, for any asset, its value stems from ‘trust’ and ‘utility’. Stable value is only formed when many people believe in its worth and it has concrete uses, such as for payment of goods and services. For Pi Network to have value in the future, the key will be not just the size of its community, but whether it can build reliable technology and an appealing ecosystem of services that people want to use.

Conclusion: The True Value of Pi Network Lies in the ‘Experiment’ Itself

Summarizing the analysis so far, it must be said that the possibility of ‘1 Pi = $314,159’ (GCV) being realized in the near future is, objectively speaking, extremely low.

However, concluding that Pi Network is worthless would be premature. The existence of this massive community, with tens of millions of participants, is an unprecedented social experiment, and its energy is immeasurable. GCV can be seen as a ‘dream’ symbolizing that energy.

The true value of Pi Network lies not in the magnitude of a number, but in what kind of practical ecosystem it can build and what convenience it can bring to the lives of people worldwide. The outcome of that challenge is the true source of value we should be observing.

For Further Learning

If you’ve deepened your understanding of Pi Network’s current status and challenges after reading this article, we recommend accessing primary sources. By reading the whitepaper published on their official website and following official announcements, you can gain a deeper and more accurate understanding of the project’s developments. It is always important to verify multiple sources and form your own judgment.

【2025 Latest】Pi Network: The ‘Main Event’ Is Coming! Crucial ‘Second Migration’ & Essential Security Measures Explained

Many ‘Pioneers’ have been mining Pi on their smartphones for years. However, with the specific progress of the Open Mainnet remaining unclear, many may be feeling questions and anxieties like, ‘What’s going to happen to this project?’ or ‘Is my Pi safe?’

In conclusion, looking at the community and project trends, it’s fair to say that Pi Network’s ‘main event’ is yet to begin. However, to truly reap the benefits of that future, there is crucial knowledge that cannot be overlooked.

This article will objectively organize the ‘now’ and ‘future’ of Pi Network based on factual information, thoroughly explaining the particularly important milestone of the ‘Second Migration’, and providing specific and indispensable safety measures to protect your digital assets from scams that aim to steal everything you have, in a way that anyone can understand.

Pi Network’s Current Position: Price Rumors and the Project’s True Focus

First, let’s clarify the current status of prices and rankings, which many are curious about, and confirm the true direction the project is aiming for.

Current Status of IOU Price and Ranking [Fact Check]

Currently, ‘Pi’ is traded on some overseas exchanges, and a price is displayed. However, this is not yet the official Pi Coin that has migrated to the mainnet. This is referred to as ‘Pi IOU (I Owe You),’ a speculative trade expecting to be exchanged for actual Pi once it’s officially listed. Information sites like CoinMarketCap also show this IOU price fluctuating around $0.6, but it’s important to note that this is not a value officially recognized by the project.

More Important Than Price? The Project’s Vision for ‘100 Apps’

In the enthusiastic community, the focus is not on ‘what today’s price is,’ but rather on ‘how Pi can be used in the real world.’ The long-term success of the project depends not on speculative price surges, but on how many practical applications—such as payments and services using Pi—emerge within the ecosystem. A grand vision is currently underway, aiming for a world where Pi can be used in every aspect of daily life.

【Most Important】Don’t Let Your Pi Be Stolen! Safe Use of the Official Wallet

If you believe in the project’s future, the most important action you should take right now is to secure your assets. Unfortunately, scams preying on Pi’s popularity are rampant, exposing many users to the risk of becoming victims. Here, we explain specific and indispensable knowledge to protect your Pi from fraud.

Prevalent Pi-Targeted Scams in Reality

Scammers use every means possible—fake websites, enticing social media ads, official-looking emails—to steal your ‘wallet passphrase.’ The passphrase is the unique master key to access all your assets. Giving this to someone else is the same as, or even more dangerous than, handing over your bank’s ATM card and PIN.

Three Checkpoints to Identify the Genuine ‘Pi Wallet’

The official Pi team has repeatedly warned that you should only enter your passphrase into the ‘genuine’ Pi wallet within the Pi Browser. Please check the following three points with utmost diligence every single time:

Check the URL: Confirm that the address bar at the top of your browser is unmistakably ‘wallet.pinet.com‘. If even one character is different, it’s a fake.
Check the Bar Color: The navigation bar (the band at the top) of the genuine wallet is ‘purple.’
Check the Logo: Confirm that the familiar official Pi logo is displayed within the purple bar.

Never enter your passphrase into any site that does not meet these three conditions. This single piece of knowledge will protect all your assets.

Your Passphrase is the ‘Key to Your Bank Vault’ – Never Share It with Anyone

Pi Core Team members or support will absolutely never ask you for your passphrase. Sweet words like ‘I’ll unlock it for you’ or ‘I’ll migrate it for you’ are all scams. Your passphrase is the most critical secret information that only you should know.

Roadmap to the Future: ‘The Trailer Hasn’t Even Started Yet’

Pi Network is said to be still in the early stages of its grand plan. Let’s look at the important steps planned for the future that may determine the project’s value.

What is the Next Big Step: ‘Second Migration’?

Currently, many Pioneers are eagerly awaiting the ‘Second Migration.’ The community has reported movements suggesting its commencement, raising expectations.

The most significant difference from the First Migration is that coins are not automatically locked up. In the Second Migration, it is said that users will be able to choose whether to lock up their migrating coins for a certain period to increase their mining rate, or to make them available immediately as ‘transferable balance’ without locking them.

Will Past Contributions Take Shape? ‘Validator Rewards’ and Other Plans

In Pi Network, there is a role called ‘Validator’ who helps other users with KYC (Know Your Customer). Plans are underway to give Pi as a reward to users who contribute to this verification process.

In addition, many other milestones remain for the project to achieve, such as listing on major exchanges like Binance and the full-scale deployment of the aforementioned ‘100 Applications,’ and further progress is anticipated.

Understanding Your Asset Breakdown: Three Types of Balances in Pi

Many people might look at the app’s Mainnet screen and feel confused by the different types of balances. Let’s organize your asset breakdown here:

Unverified Balance: This is the Pi earned from team members you invited who have not yet completed KYC. This balance will not become yours until they complete KYC.
Transferable Balance: This is the Pi that you yourself have mined, or earned from team members who have completed KYC, and has become ready to migrate to your Mainnet wallet. The Second Migration will primarily target this balance.
Migrated Balance: This is the Pi that has already completed migration to your Pi wallet, for example, through the First Migration. If you have set a lock-up period, you cannot move it until that period ends.

Conclusion: Future Expectations and What You Should Do Now

There is no doubt that Pi Network is a long-term project with a grand vision. Important steps, such as the Second Migration, are pending for the full activation of the ecosystem, which could be considered the ‘main event.’

However, if you expect a big bloom in the future, it is most important to secure your assets right now. Even if the value of Pi increases significantly, it will be meaningless if it is lost instantly due to scams.

First, thoroughly apply the ‘Three Checkpoints’ learned in this article and re-evaluate your wallet usage habits. Then, carefully monitor official announcements and safely support the project’s future.

In-Depth Analysis: When Will Pi Network’s Open Mainnet Launch? Decoding 2025 Plans and Current Status from Official Sources

Pi Network has garnered global attention for the ease with which users can mine cryptocurrencies on their smartphones. Especially as 2025 approaches, expectations for the “Open Mainnet to finally launch” are building both within and outside the community. However, it’s also true that various pieces of information, including specific dates, are circulating and often contradictory. This article aims to set aside fervent rumors and expectations, and objectively and logically unravel Pi Network’s “present” and “future” based on officially released information.

What is Pi Network in the First Place? Basics of the Cryptocurrency Project You Can Join with Your Smartphone

First, let’s reconfirm the basic concept and purpose of Pi Network: what kind of project it is and why it attracts so many people.

Pi Network is a cryptocurrency project launched in 2019 by Stanford University PhDs Nicolas Kokkalis and Chengdiao Fan, among others. Its biggest vision is to create “a global cryptocurrency accessible to everyone.”

To realize this vision, Pi Network possesses the following features:

Smartphone Mining: Unlike Bitcoin, which requires high-performance computers and large amounts of electricity, you can participate by simply tapping a button once a day on a smartphone app.
Environmental Consideration: It adopts a unique consensus algorithm (based on the Stellar Consensus Protocol) that consumes less energy, and is thus considered to have a very small environmental footprint.
Current Phase: “Enclosed Mainnet”: It is currently in a phase called the “Enclosed Mainnet.” This is a state where Pi’s blockchain is isolated from external exchanges and other blockchains, like a “walled garden.” During this period, user identity verification (KYC) is advanced, and an ecosystem of apps (dApps) that use Pi is being fostered.

Fact-Checking the Core Rumor: The “2025 Launch Theory”

Recently, specific information, particularly on overseas social media and video content, claiming that the “Open Mainnet will launch on June 28, 2025,” has become a hot topic. While this would be big news if true, let’s calmly verify its credibility against official statements.

To be clear, no specific date, such as “June 28, 2025,” has been announced by the Pi Network core team at this time.

These pieces of information are likely to have spread due to the expectations and predictions of some influencers and community members. No such definitive announcement has been confirmed from the social media accounts of co-founder Chengdiao Fan.

Furthermore, while a figure of “300 million users” is sometimes mentioned, this is also likely an exaggeration. According to official Pi Network information, over 19 million users have completed KYC (Know Your Customer), which undoubtedly represents a huge community, but it is always important for us to base our judgments on accurate numbers.

The Key to Success: Three Essential Conditions for Open Mainnet Migration as Stated by Pi Network

So, what is the path to the Open Mainnet officially indicated by Pi Network? There are three crucial conditions that must be met for the healthy growth of the project. Only when these are cleared can Pi step out of its “walled garden” into the outside world.

Condition 1: Ecosystem Readiness
This refers to the readiness of the internal network. Specifically, this includes:
- KYC and Mainnet Migration: 15 million users have completed KYC, and 10 million of them have migrated their Pi to the Mainnet wallet. (This goal has reportedly already been achieved)
- Utility: Over 100 applications (dApps) that can actually be used or enjoyed with Pi are ready to operate on the Mainnet.
Condition 2: Technical Readiness and Maturity
This concerns whether the network’s technical foundation is mature enough to withstand an open environment. This includes network stability, the ability to process many transactions quickly (scalability), and sufficient security against external attacks.
Condition 3: Favorable External Environment
Not only issues within Pi Network itself, but also the global situation surrounding the project are important. For example, the absence of a global financial crisis or war, and the clarity of cryptocurrency regulations, are factors considered.

From these conditions, it can be inferred that the Pi Network team is prioritizing the construction of a sustainable and valuable ecosystem, rather than simply rushing a launch.

Pi Network Ecosystem Outlook: dApps, Nodes, and Community

What kind of world will unfold beyond the Open Mainnet? Let’s look at the overall vision of the ecosystem Pi Network aims for and its potential.

- dApps (Decentralized Applications): These are the heart of the Pi economy. After the Open Mainnet, developers will be able to build various applications on the Pi blockchain. For example, marketplaces where goods can be bought and sold with Pi, games, and social media could be envisioned, creating “use cases” for Pi.

– Nodes: Nodes are a mechanism where volunteer computers worldwide verify and support the network’s transaction records. By maintaining the network through many nodes rather than centralized corporate management, Pi Network’s decentralization and security are preserved.

Community Power: A massive and active user community numbering in the tens of millions is the greatest asset of this project. This community’s use of dApps and engagement in economic activities will invigorate the entire Pi ecosystem.

Conclusion: How Should We Approach the Future of Pi Network?

Based on the information gathered so far, how should we, as users, approach this ambitious project called Pi Network?

The most important thing is to calmly observe the progress of the “three conditions” outlined by the official team, rather than being swayed by uncertain date rumors. Pi Network is not a speculative project designed to make you rich overnight; rather, it is an ambitious social experiment in the process of building a new economic zone with a long-term vision.

Its success is not yet guaranteed. However, its innovative vision and the potential held by its massive, global community are unique attractions that many other projects lack.

To truly assess the project’s future value, always make an effort to obtain the latest and most accurate information from official announcements within the Pi Network app, its official website, or official social media accounts. Observing this project’s future based on objective information, rather than being carried away by enthusiasm, will be the wisest approach.

Pi Network’s True Current State: Exploring Future Potential and Challenges Through Believers’ Voices and Objective Data

With its groundbreaking concept of easy smartphone mining, the cryptocurrency “Pi Network” has amassed tens of millions of users worldwide. However, doubts and criticisms persist, such as “When will it gain value?” or “Is the project truly progressing?” This article delves into the real current state of this project, which is swirling with enthusiastic support and harsh criticism, using the voice of a believer as a starting point, thoroughly dissecting it from objective data and multiple perspectives. No specialized prior knowledge is required. By the time you finish reading, you will have a solid compass to judge the true nature of Pi Network for yourself.

Confessions of a ‘Believer’: Significant Losses, Yet Still Believing

To understand the curious appeal and fervor of the Pi Network, let’s look at the words of a passionate South Korean supporter. He describes himself as ‘crazy about Pi Coin (또라이)’ yet analyzes the project with surprising calm.

He confesses to having lost a large sum, approximately 40 million Korean Won (equivalent to about 4.5 million JPY at current rates), in past Pi Network-related transactions. However, it’s crucial to note that this loss was not from selling Pi he mined on his smartphone. This was a failure in a high-risk market trading the “future value” of Pi, which officially has no value yet. Under normal circumstances, one might resent the project, but he continues to share information about Pi Network daily. Why? Perhaps because he sees the potential for a “grand social experiment” in this project, something beyond a mere speculative asset. This episode symbolizes the complex psychology that draws many people to Pi.

Pi Network’s ‘Now’ as Seen Through Objective Data

Let’s set aside emotional arguments for a moment and calmly analyze Pi Network’s current position based on publicly available data and facts.

The True Nature of ‘Price’ in the Market: What is IOU?

You might have seen Pi seemingly listed with a price on some crypto information sites or exchanges. However, as of June 2025, Pi Network is not listed on any major exchanges, and there is no official price.

So, what is the displayed price? It is primarily what is called an “IOU (I Owe You).” This is:

a promise being traded: “If Pi truly gets listed in the future, we will hand over the actual Pi coins at that time.”
In other words, it is a type of rights trading betting on the project’s future, and its price fluctuates significantly based on market expectations and speculation.
You must understand that if the project fails, its value will become zero, making it a very high-risk asset.

Current IOU prices are traded at around 85 to 90 JPY per Pi on some exchanges, but it is crucial to strongly recognize that this is by no means the confirmed value of Pi.

The Major Hurdles of KYC and Migration Progress

For Pi Network to become a ‘real cryptocurrency,’ it must go through the unavoidable processes of ‘KYC’ and ‘Migration.’

KYC (Know Your Customer): This is the ‘identity verification’ procedure. It is essential to prevent one person from fraudulently mining coins with multiple accounts and to maintain the network’s integrity.
Migration: This is the process of moving Pi mined on the test network to the official network (mainnet), where it has the potential to hold actual asset value.

According to official information and reports, over 18 million people have completed KYC, but some sources suggest that less than half of those users have completed migration. As the process targets tens of millions of users, it is taking a long time, and many users are currently eagerly awaiting their turn.

Why the Criticism? Three Major Hurdles Pi Faces

While there is significant anticipation, Pi Network also faces harsh criticism. Here, we will organize the main challenges the project must overcome from three perspectives.

1. Stalled Development and Opaque Roadmap

One of the users’ biggest frustrations is the delay in development. The launch of the “open mainnet,” which would allow free transactions for anyone, has been repeatedly postponed from its initial schedule. Furthermore, the official roadmap (development plan) often lacks specific completion dates, increasing dissatisfaction and anxiety about “when it will finally materialize.”

2. A ‘Pie in the Sky’? Lack of Practical Utility

For a cryptocurrency to hold value, practical utility – “what it can be used for” – is essential. However, Pi Network faces a significant challenge in this regard. The promised DApps (decentralized applications) ecosystem development is not progressing as expected, and places where Pi can be used to purchase goods or services are currently limited to a very small part of the community. There are harsh criticisms that as long as this “useless” state continues, it will be difficult for Pi to attain true value.

3. Dissatisfaction with Lack of Communication from the Core Team

The lack of communication between the ‘core team’ leading the project and the user community is also a concern. Many users feel that when KYC delays or technical issues arise, there is often little clear explanation or swift response from the core team. Such an attitude contributes to increased distrust in the project.

Why Hope Persists: Pi’s Uniqueness Compared to Bitcoin

Despite facing so many challenges, why do tens of millions of people not give up hope? The answer lies in Pi Network’s unique philosophy and fundamental differences from Bitcoin.

Differences in Philosophy and Design
Bitcoin was created by an anonymous individual named Satoshi Nakamoto, idealizing “decentralization” with no specific administrator. In contrast, Pi is operated by a team led by Dr. Nicolas Kokkalis, who holds a Ph.D. from Stanford University, and the project’s early stages are proceeding under strong centralized management.
Differences in Barriers to Entry
Bitcoin mining now requires high-performance specialized computers and vast amounts of electricity. In contrast, Pi aimed for thorough democratization of access, allowing “anyone, anywhere, with just a smartphone” to participate. This ease of access is the biggest factor that enabled the formation of a massive user community that no other project has achieved.

Pi Network can be described as a grand experiment aiming to become “the world’s most widely adopted cryptocurrency” through an entirely different approach than the world Bitcoin has created.

Outlook on the Upcoming Important Event: ‘Pi2Day’

Every year on June 28th, a significant date for the community named ‘Pi2Day’ (derived from being twice the value of Pi ≈ 3.14), some announcements related to the project are expected.

The community speculates that the introduction of ‘KYB,’ a corporate identity verification system, or new initiatives to expand the ecosystem might be announced. However, these are currently mere speculations. In recent years, despite the anticipation for events, objective data shows a declining trend in actual interest, so excessive expectations should be avoided. Whatever announcements are made, their content will undoubtedly be a crucial indicator for the project’s future.

Conclusion: How Should We View the Future of Pi Network?

Synthesizing the information presented so far, Pi Network can be summarized as follows:

A Grand Social Experiment: It is an unprecedented, high-risk, high-return long-term project advocating the ideal of “currency for everyone.”

– Piles of Challenges: The hurdles to overcome are high, including KYC and migration delays, an opaque roadmap, and lack of practical utility, so it cannot be viewed optimistically.
– Its Greatest Asset is ‘People’: However, on the other hand, its vast and enthusiastic global community is a unique asset that no other project possesses.

The purpose of this article is not to definitively state whether “Pi will succeed” or “fail.” Rather, it is to present the fact that the key to success lies in “whether it can resolve its numerous challenges and transform its massive community into a practical economic zone,” and to highlight both possibilities.

Use this article as one piece of information, and I encourage you to follow official information with your own eyes. Without being swayed by excessive expectations on social media or unsubstantiated criticisms, calmly assess the project. That intellectual curiosity will undoubtedly be your most reliable strength in discerning the true nature of new technologies to come.

Pi Network & China Bank Integration: Fact or Fiction? An Objective Analysis of Rumors and Future Potential

Pi Network, a cryptocurrency that allows for easy mining on smartphones, boasts tens of millions of users worldwide. A grand rumor, potentially determining the project’s fate, is being feverishly discussed within some communities: that Pi Network will integrate with national banks in China and become officially usable.

If this news were true, Pi Network’s value and credibility could be completely transformed. However, China is also one of the countries with the strictest cryptocurrency regulations in the world.

This article delves into the core of this grand rumor, the “China Bank Integration theory,” thoroughly investigating its origin and credibility. We will explore both the expected benefits and realistic risks, enabling even those without specialized knowledge to objectively understand Pi Network’s current state and future.

The Core of the Rumor: What is the “Pi Network and China Bank Integration” Theory?

First, let’s accurately grasp where this major topic originated and what it entails.

Information Alleged as the Source of the Rumor

This rumor appears to stem primarily from information disseminated by Chinese-language media platforms known as “Hoke News” and social media influencers. Their claims, in summary, are that multiple Chinese banks are preparing to integrate Pi Network’s system into their services.

Claimed Benefits of Integration: 3 Expected Changes

If this integration were to materialize, it is claimed to bring immeasurable benefits to Pi Network and its users. The main expectations are as follows:

Easy Exchange for Fiat Currency: Banks would mediate, allowing users to safely and easily exchange their held Pi for China’s legal tender, the Yuan.
Bank-Level Security and Reliability: Banks’ advanced fraud monitoring systems and anti-money laundering (AML) mechanisms would apply, dramatically improving the overall trustworthiness of Pi Network.
Expanded Use in Daily Payments: By connecting with banking infrastructure, Pi would be widely accepted as a daily payment method for shopping at retail stores, dining at restaurants, and more.

These expectations evoke a future where Pi Network is not merely a speculative asset but integrates into society as a practical “currency.”

Fact Check: Objectively Verifying the Rumor’s Credibility

While expectations soar, are these claims actually true? Here, we take a step back and calmly verify the information’s authenticity based on objective facts.

Are There Official Announcements from Chinese Banks or Government?

To be clear, as of June 2025, there has been no official announcement from any Chinese bank or government agency suggesting integration with Pi Network.

Partnerships of this kind are extremely crucial information that impacts a company’s future and are typically disclosed through official press releases or reports to financial authorities. Given their absence, it is reasonable to conclude that the “bank integration” is an unverified rumor or merely wishful thinking within the community.

The Reality of “Car Transactions at GCV Price”?

Often linked to the rumor is the story of high-value goods like cars being traded at an astonishing price called “GCV (Global Consensus Value)” – 1 Pi for $314,159 (approximately 49 million JPY).

However, this GCV is not an official value set by the Pi Network development team; it is merely an unofficial target price that a subset of the user community aims to achieve through consensus. While transactions at this price might occur in a form akin to bartering within a very small community isolated from external markets, it does not represent Pi’s objective market value.

China’s Strict Stance on Cryptocurrencies

Most importantly, the Chinese government maintains very strict regulations on cryptocurrencies. In 2021, the provision of crypto-related services by financial institutions, as well as domestic trading and mining activities, were completely banned.

The Chinese government prohibits cryptocurrency transactions themselves, citing reasons such as ensuring financial stability and curbing illegal activities. This national policy and the claim of banks integrating with Pi Network, a private project, are currently in clear contradiction.

Why is Pi Network Attracting Attention in China Now?

Despite such strict regulations, why is the rumor of “practical application in China” spreading so widely? This is likely related to several characteristics of Pi Network.

Even Banks are Watching? Pi Network’s Strict “KYC (Know Your Customer)” Process

Pi Network mandates a strict KYC (Know Your Customer) identity verification process for all users to claim their mined Pi. This mechanism requires submitting official documents such as driver’s licenses or passports to prevent fraudulent multiple accounts and bots (automated programs).

This philosophy of “thoroughly verifying the identity of each user” is very similar to the procedures banks follow when opening new customer accounts. Therefore, the expectation that “banks could safely partner with a system that performs such rigorous identity verification” might be a contributing factor to the rumor.

The Presence of a Huge User Community within China

Despite regulations, a very large number of Pi Network users are said to exist within China. It is easy to imagine that the enthusiasm and expectations of this massive community serve as fertile ground for various rumors and speculations.

Unignorable Risks and Project Challenges

When discussing the future of Pi Network, it is crucial to understand not only the aspects of expectation but also the unavoidable risks and critical perspectives.

Concerns of Being a “Pyramid Scheme”

Pi Network employs a mechanism where inviting new users (referrals) increases one’s own mining efficiency. This structure is a reason for criticism that it “resembles a pyramid scheme (illegal as a multi-level marketing scheme without goods/services in Japan) that profits by increasing members without accompanying the distribution of goods or services.”

While the project positions this as a marketing method to expand its network, this concern remains a significant challenge to Pi Network’s credibility.

Lack of Listing on Major Exchanges and the Current State of the “Mainnet”

As of June 2025, Pi Network is not listed on world-leading cryptocurrency exchanges like Binance or Coinbase. Being listed on an exchange means that the asset gains an objective market price and liquidity, allowing many people to freely buy and sell. The fact that this has not yet happened is because Pi Network has not yet transitioned to an “Open Mainnet.”

Current State (Closed Mainnet): Pi Network’s blockchain currently operates in a closed, internal environment and cannot connect with external exchanges or services.
Future Goal (Open Mainnet): The stage that enables external connections, allowing anyone to freely trade Pi. The official team is developing towards this transition, but a clear date has not yet been announced.

This transition to an “Open Mainnet” is the most critical step for Pi Network to truly gain value.

Conclusion: Pi Network’s Current Status and Future Outlook

Synthesizing the information thus far, what can be inferred about Pi Network’s current status and future?

Rumors are “Expectation,” Reality is “Work in Progress”

The claim of “China Bank integration” is currently in the stage of “expectation” or “rumor” with little objective basis. The real barrier of China’s strict regulations is very high, and it must be said that the possibility of this rumor materializing soon is extremely low.

Pi Network is a project still under development, presenting a grand vision. Its success depends on steady steps of technological development and social acceptance, not on uncertain rumors.

3 Key Points to Watch for in the Future

To assess Pi Network’s future potential, it is important to pay attention to the following three official developments:

Official Launch of the Open Mainnet: Only when this occurs can Pi stand on the same ground as other cryptocurrencies.
Official Movements by National Regulatory Authorities (Especially China): Should China soften its stance on cryptocurrencies, it could be a major turning point.
Achieving Listing on Major Exchanges: Listing on major exchanges like Binance would be a significant step towards gaining global liquidity and credibility.

Until these milestones are achieved, information regarding Pi Network, especially enthusiastic claims on social media, must be carefully scrutinized for its authenticity.

Article Summary and Next Steps

The “China Bank Integration theory” surrounding Pi Network is an attractive story reflecting strong community expectations, but based on facts, it harbors many challenges and contradictions. If you are interested in this project, it is most important to calmly follow primary information from the project’s official website and official social media, rather than being swayed by unsubstantiated rumors.

Whether it holds the potential to become a future currency or ends as a grand social experiment. The answer will be revealed by the project’s concrete progress moving forward.