Introduction

Pi Network made an important announcement on “Pi Day,” March 14, 2025. This article is based on information as of March 15. This date is named after the first three digits of the mathematical constant π (3.14) and is closely related to the Pi Network brand. The announcement revealed multiple new features, including the activation of external connectivity, the ability for KYC-verified users to change their account phone numbers, and the start of merchant registration and the Pi Shopping event.

What is Pi Network: Background and Development History

Pi Network is known as a cryptocurrency project that can be mined using smartphones. Unlike traditional cryptocurrencies, it does not require high-performance computers and employs an environmentally friendly consensus algorithm.

Until now, Pi Network has operated in a “closed mainnet” phase, where transactions were only possible within the ecosystem. This meant that Pi coins could not be exchanged for external currencies or other cryptocurrencies. However, this situation is about to change with the latest announcement.

Pi Day 2025: A Groundbreaking Event

PiFest, held from Pi Day on March 14, 2025, until March 21, will be a significant milestone for Pi Network. During this period, the “Open Network” feature will be launched, enabling Pi Network’s external connectivity for the first time.

The centerpiece of this event is “Pi Shopping,” which is similar to large sale events like Black Friday but is specifically focused on transactions using Pi coins. Merchants can already begin registering, and actual transactions are scheduled to start on Pi Day itself.

This initiative aims to increase adoption and utility by integrating Pi coins into daily transactions.

Details of New Features

Enabling External Connectivity

“External connectivity” means that Pi Network will be able to interoperate with other blockchains and payment systems. This will make it easier to convert between Pi coins and other cryptocurrencies or fiat currencies, and reduce risks for merchants.

The Open Network feature enables integration with centralized exchanges (CEXs) and on-ramp services that have completed KYB verification. This provides additional means to acquire Pi for use within the Pi ecosystem and strengthens collaboration with third-party services. However, transactions with third-party services or CEXs that have not undergone KYB verification should be avoided due to the risk of fraud and phishing.

This feature significantly expands the Pi Network ecosystem and provides users with more usage options.

Phone Number Change Feature for KYC-Verified Users

Pioneers (Pi Network users) who have completed KYC (Know Your Customer) verification will be able to change the phone number registered to their account. To use this feature, they must complete a “liveness verification test” for identity confirmation. This confirms that the person is the same individual who submitted and was approved for the KYC application.

KYC verification is a crucial element of Pi Network, ensuring that each real person has only one account. This prevents fraudulent activities and bot manipulation. The final deadline for KYC verification is 8:00 AM UTC on March 14, 2025. Users who have not yet completed verification may not be able to participate in future events or the migration to the mainnet.

Merchant Registration Process

Businesses that wish to accept Pi coins can register as merchants through the Map of Pi. The registration steps are as follows:

• Access mapofpi.pinet.com from the Pi Browser
• Tap the “+ Sell” button on the bottom left of the screen
• Enter the required information (name, type, details, address, store image, etc.) in the “Seller Registration” section
• Select “Inactive Seller” or “Test Seller” depending on the sales status
• Save all information

After registration, you can print and display your Pi wallet QR code for Pi payments at your store.

KYB Requirements

In addition to KYC verification for users, Pi Network has also introduced KYB (Know Your Business) verification for businesses. Businesses wishing to participate in mainnet blockchain activities or provide infrastructure (on/off-ramps, exchanges, bridges, Web3 wallet solutions, etc.) must complete KYB verification. Only businesses that have completed KYB verification can create individual non-custodial mainnet Pi wallets and conduct transactions within the Pi ecosystem. A list of KYB-verified businesses can be found on the official website.

Strategic Importance

This announcement is a significant step in Pi Network’s long-term strategy. By enabling external connectivity, Pi coin will break away from its closed ecosystem and be integrated into the broader cryptocurrency ecosystem.

This is expected to increase the liquidity and utility of Pi coin and contribute to value stabilization. Furthermore, increased use in daily transactions will make cryptocurrency more accessible to the general public.

Improved interoperability has the potential to expand Pi Network’s user base and promote overall ecosystem growth.

Benefits for Each Stakeholder

Benefits for Merchants

By accepting Pi coins as a merchant, businesses can access a new customer base. Consumers interested in cryptocurrency tend to actively use stores and services where Pi coins can be used.

Furthermore, the transparency and security of transactions provided by blockchain technology are also advantages for merchants. Transaction fees may also be lower compared to traditional payment systems.

Benefits for Users

Pi Network users will be able to use the Pi coins they have mined in more places. This increases not only their value as a digital asset but also their value as a practical currency.

External connectivity also makes it easier to exchange Pi coins with other cryptocurrencies or fiat currencies, improving asset management flexibility.

Benefits for the Entire Ecosystem

For the Pi Network ecosystem as a whole, an expansion of the user base and an increase in transaction volume are expected. This will improve the network’s stability and security, and enhance long-term growth and sustainability.

Furthermore, an increase in real-world commercial use cases may deepen recognition and understanding from regulatory authorities.

How to Participate

How to Register as a Merchant

Businesses wishing to accept Pi coins can begin merchant registration through the Map of Pi registration process mentioned earlier. After submitting the required documents and information and passing the review, the Pi coin payment system will be set up.

Detailed registration procedures are published on Pi Network’s official channels.

How Users Can Prepare

Pi Network users are recommended to prepare for PiFest by doing the following:

• Complete KYC verification (if not already done)
• Check your Pi wallet settings
• Check information about participating merchants in Pi Shopping
• Make a plan for using your Pi coins

KYC Verification Steps

To complete KYC verification, you need to follow these steps:

• Install the necessary apps (Pi Network app, Pi Browser app)
• Open Pi Browser, select “Create a new wallet” and set up your Pi wallet
• Store your passphrase securely
• Open Pi Browser and tap the kyc.pi icon
• Select your country and ID type (Passport or National ID)
• Upload a clear photo of your ID
• Follow the instructions to complete facial recognition
• Tap “Submit and Pay” to pay the 1 Pi fee

The review process may take from a few minutes to several months. You can check your verification status in the Pi Network app or Pi Browser app.

The Reality of User Numbers

Pi Network claims a user base of approximately 60 million, but according to actual blockchain data, the number of mainnet wallets is around 9.11 million (as of January 2025), which accounts for only about 15% of the total users. There are also reports that only about 51% of KYC-verified users have migrated to the mainnet. This gap is an important indicator for understanding Pi Network’s actual adoption rate.

Future Outlook

This announcement is a significant step in the evolution of Pi Network. With the realization of external connectivity, Pi Network has the potential to stand alongside traditional cryptocurrency projects.

In the long term, there is also the possibility that Pi coin will be widely adopted as a means of daily payment. In particular, the unique approach of mining through smartphones lowers the barrier to entry into cryptocurrency and provides an opportunity for more people to participate in the digital economy.

Pi Network has the potential to contribute to the mass adoption of cryptocurrency through its user-friendly interface and environmentally conscious mining process.

Conclusion

PiFest, which runs from March 14 to 21, 2025, marks a significant turning point for Pi Network. Various new developments are underway, including the realization of external connectivity, the start of merchant registration, and new features for KYC-verified users.

These initiatives are expected to increase the utility and value of Pi coin and strengthen its position within the cryptocurrency ecosystem. For Pi Network users and those interested in cryptocurrency, the future developments are worth paying attention to.

Check the latest information on Pi Network’s official channels and start preparing to participate in this exciting event towards PiFest 2025.