Transparency Concerns
Closed Mainnet and Regulatory Issues
Another critical factor is that Pi Network's mainnet remains enclosed, meaning it's not fully open to the public. This restricted phase limits external transactions and raises regulatory compliance questions. Exchanges like Binance prioritize listing projects with open, decentralized networks that comply with financial and security regulations.
Centralization and Governance
Concerns about centralization within Pi Network also contribute to the reluctance of major exchanges to list the coin. The core team's significant control over the network and its development contrasts with the decentralized nature of other blockchain projects, leading to further hesitancy from exchanges.
Community Perspectives
Despite these issues, Pi Network maintains a strong community with over 4 million social media followers. A Binance survey indicated that 86% of participants support listing Pi. However, some community members believe that the delay is due to the Pi Core Team's refusal to pay listing fees, a common practice among projects seeking exchange listings.
In summary, the combination of transparency issues, an enclosed mainnet, regulatory concerns, and centralization has contributed to Pi Network's absence from major exchanges. Addressing these factors may improve the likelihood of future listings.
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