After six years of technological accumulation and community co-construction, the globally focused Pi Network has officially announced: The mainnet open network will officially launch at 8:00 AM UTC on February 20, 2025! This milestone marks Pi Network's transition from a closed testing phase to a truly decentralized ecosystem, fulfilling the expectations of over 47 million pioneers and opening a new chapter in the blockchain world.

I. Six years of accumulation: From vision to reality

Since the project's launch on March 14, 2019 (Pi Day), Pi Network has always centered on the core concept of 'achieving inclusive finance through mobile mining,' gradually building a large user base and technological framework. Looking back at its development history, several key milestones are particularly noteworthy:

  1. Closed network period (December 2021 - February 2025): After the launch of the third phase of the mainnet, Pi Network enters a closed network period, allowing only KYC-certified pioneers to trade within the firewall. The core task of this phase is to improve ecological infrastructure, including app development, optimizing KYC processes, and promoting practical scenarios for Pi currency.

  2. Mining model innovation (March 2022): Introduced a decreasing exponential mining reward model to balance network growth and token scarcity, ensuring long-term sustainability.

  3. Grace period and migration acceleration (July 2024): By extending the grace period to January 31, 2025, to incentivize more users to complete KYC and migrate to the mainnet, ultimately achieving the goal of 10.14 million migrating users ahead of schedule (original goal of 10 million).

II. Three core conditions for the launch of the open network

According to official disclosures from Pi Network, the mainnet launch requires meeting three major conditions, and the community's efforts have exceeded expectations:

  1. Technology, product, and compliance are ready: The core team has completed the blockchain protocol upgrade, node transition plan, and established the KYB (enterprise verification) system to ensure ecological security.

  2. User and ecological scale meet standards:

    • 19 million KYC-certified users: Far exceeding the original target of 15 million;

    • 10.14 million mainnet migrating users: Injecting liquidity into the ecosystem;

    • 100+ mainnet applications deployed: Covering various fields such as finance, social networking, and commerce. For example, the PiFest 2024 event recorded participation of 950,000 users, validating Pi's practicality in local business.

  3. Stable external environment: No force majeure policies or market risks have emerged.

III. What changes will the open network bring?

  1. Breaking the enclosure, connecting the world
    After the mainnet opens, the Pi blockchain will lift firewall restrictions, supporting interaction with other public chains and external systems. This means:

    • Users can transfer assets across chains and participate in a wider range of DeFi, NFT, and other scenarios;

    • Enterprises can access Pi payments through KYB verification, expanding the scope of commercial applications.

  2. Decentralization of nodes and community governance
    The core team will gradually invite qualified nodes to migrate from the testnet to the mainnet, prioritizing historical contributions and stability. In the future, node data will be publicly transparent, and community governance rights will be further decentralized.

  3. Release of Pi currency value
    Although Pi has not yet been listed on mainstream exchanges, P2P trading within the community has begun to take shape (e.g., merchants in Taiwan accepting Pi payments, with off-market prices around 25-30 New Taiwan Dollars per coin). After the mainnet launch, Pi will detach from its 'futures' attribute, and its real value is expected to gradually emerge as the ecosystem expands.

IV. Future outlook: Challenges and opportunities coexist

  1. Short-term challenges:

    • How to cope with potential security risks and market fluctuations in the early stages of an open network;

    • Accelerate the migration of remaining KYC users to avoid insufficient ecological liquidity.

  2. Long-term opportunities:

    • Prosperity of the developer ecosystem: Over 80 mainnet applications are just the beginning, with more tool-based and entertainment DApps expected to emerge;

    • Compliance process: The KYB system may attract traditional enterprises to join, promoting Pi as a bridge between Web3 and traditional business.

Conclusion: The power of the community, the continuation of dreams

Six years ago, Pi Network set sail with the original intention of 'everyone can participate'; six years later, it has become one of the largest decentralized experiments in cryptocurrency history, thanks to the power of community governance. February 20 is not only a technological upgrade but also the crystallization of the beliefs of tens of millions of pioneers. As the Pi team stated: 'The success of the open network depends on the continuous contributions of every pioneer, developer, and enterprise.'

At this moment, we stand at the starting point of a new era, looking forward to Pi Network redefining the value boundaries of blockchain with an open, inclusive, and practical approach.

(Some data and opinions in this article are quoted from official announcements and community dynamics of Pi Network for reference only and do not constitute investment advice.)

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