Here is the latest update on the Pi Network:

🚀 Official transition to the Open Network

• On February 20, 2025, at 08:00 UTC, the Pi Network inaugurated its Open Network Mainnet, enabling external transfers (outside of the previous closed ecosystem)

• On that day, the number of migrants to Mainnet surpassed 10.14 million, achieving the goal of 10M, and over 19M users had already completed KYC

🛍 PiFest & real-world adoption

• From March 14 to 21, 2025, the first PiFest took place, featuring tools like the Map of Pi, allowing purchases with Pi at local businesses. There are already more than 100,000 registered merchants and around 49,000 assets.

• A .pi domain platform was also launched in March 2025, with auctions for personalization and digital identity.

📈 Pricing and exchange listings

• Exchanges like MEXC, OKX, Bitget, BitMart, and LBank began listings (pre-market or set for 02/20).

• After the launch, the price of Pi (IOU) fluctuated significantly:

• It reached nearly $3 at the end of February, followed by a correction to around $0.6–1.8

“Pi’s open mainnet went live on Feb 20, 2025. People are actually trading it right now sitting around $0.82 today.” 

🧩 KYC, migration, and operational challenges

• The deadline to complete KYC and migration was extended to March 14, 2025, with options for resubmitting documents, adjusting information, and changing phone numbers .

• There are still reports of freezing in verification, bugs in migration, and slow support .

🤔 Controversies and concerns

• There were criticisms about repeated delays before February, which caused doubts in the community.

• The reputation of Pi is also a subject of debate: some call it “controversial” or even a “scam,” with concerns about centralization and lack of transparency in the token.

• Binance considered listing it, with support from 86% of the community, but has not made an official decision yet .