Latest information regarding Pi Network, which is attracting attention in the cryptocurrency industry, has been announced. Pi tokens are scheduled to be listed on the OKX platform in mid-February 2025. Additionally, the official mainnet launch is scheduled for Q1 2025. This article will explain these latest updates in detail, including KYC progress and token trading restrictions.

Pi Token Listing on OKX

OKX is a major platform known as a cryptocurrency exchange. The company has announced plans to list Pi Network tokens on its platform. However, it has been confirmed that this listing was not applied for by Pi Network itself, but rather an approach from OKX.

Article posted by OKX
https://www.okx.com/learn/how-deposit-pi-coin-wallet

Although it states that the platform will be listed in mid-2025, the article was posted before the mainnet scheduled date was announced. It is unclear how this should be interpreted, or if the article was posted with some knowledge of the mainnet scheduled date.

OKX has usage restrictions for Japanese residents

As an important note, Currently, OKX cannot be used in Japan. Since OKX is not licensed by the Financial Services Agency of Japan, Japanese residents are not legally permitted to create accounts or trade on this exchange. If you wish to trade Pi tokens from within Japan, you will need to wait for other licensed exchanges to potentially support it in the future.

KYC Progress and Mainnet Migration

Currently, Pi Network is proceeding with the KYC (Know Your Customer) process, and many users have completed the migration to the mainnet. According to official announcements, approximately 10 million people have already completed the migration. However, please note that if KYC is not completed, there is a possibility that the Pi coins held by the user may be lost.

Over 10 million accounts migrated on the closed mainnet! What’s next?

Importance of Mainnet Launch

Pi Network is currently in the testing phase (testnet) and is focusing on improving system stability and security. Various speculations are being discussed regarding the official mainnet launch, with possibilities predicted for February 28, 2025, and March 14. Given this uncertainty, it is recommended to check the official website for the latest information.

On-Chain Transactions and Token Transfer Restrictions

In Pi Network, on-chain transactions will be possible after the mainnet migration. On-chain transactions refer to transactions conducted directly between wallets or digital currencies.

Regarding the Lock-up Period

Furthermore, many users’ tokens may be locked up for a minimum of 3 years. During this lock-up period, free trading and external transfer of tokens will be restricted. My tokens are also locked for 3 years, so I cannot do anything.

Points to Note and Future Outlook

The Pi Network team prioritizes building a safe and fully functional network. Therefore, it is recommended to check for announcements from official channels regarding the official launch date and features. Also, currently, Pi tokens are used exclusively within the ecosystem, and exchange for other cryptocurrencies or fiat currencies is not permitted.

“Pi Network tokens are currently still used exclusively within the ecosystem. Exchange for other cryptocurrencies or fiat currencies is not yet permitted.”

Even under these circumstances, support and expectations within the community are growing. By continuing to follow the latest information, let’s make sure not to miss new opportunities.

Summary

The progress of Pi Network could potentially impact the entire cryptocurrency industry. With major events like the OKX listing and mainnet launch approaching, let’s continue to closely monitor official information. Furthermore, it is important to act based on information obtained from safe and accurate sources. Other exchanges may also make similar announcements.