#pi Recently, there has been a lot of concern in the Binance community about selling off. Let me point out a few things: - Users in China and the selling issue: It is believed that users from China account for 80% of the Pi Network users, and the project team is worried about a large-scale sell-off in China. The reason is that there are still many people in China who have not passed KYC; even if they pass KYC, due to the link between referral rewards and whether the referred person has passed KYC, the actual coins available for use are only 20%; furthermore, if the coins are not mapped to the mainnet, they have no real value and cannot be sold.
- Listing situation on OKX: OKX originally intended to list Pi coins, but based on the Pi Network project's request for an isolated listing model, users from certain countries and regions are unable to deposit and trade, which may include the Chinese community.
From the perspective of the video, the mentioned inability to sell is mainly due to the following reasons:
- KYC restrictions: A large number of Chinese users have not passed KYC, and the Pi coins they hold cannot be traded, thus cannot be sold.
- Rewards not credited: Even if one passes KYC, if the referred person does not pass, the referral rewards do not count, resulting in a small amount of coins available for trading, making selling impossible.
- Not mapped to the mainnet: Pi coins that have not been mapped to the mainnet are just numbers, lacking recognition and circulation within the trading system, and cannot be sold in the market.
However, according to news on February 12, 2025, the deposit time for OKX PI is 10:45 AM (UTC+8) on February 12, with the call auction time being from 3:00 PM to 4:00 PM (UTC+8) on February 20, and the opening time for PI/USDT spot trading is 4:00 PM (UTC+8) on February 20. However, after taking the isolated listing model, users in China are indeed restricted in deposits and trading, making it difficult to conduct selling operations.
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