1. Transition to Open Mainnet
On February 20, 2025, Pi Network officially launched its Open Mainnet at 8:00 AM UTC, marking the end of its Enclosed Mainnet phase. This transition removes previous restrictions, allowing seamless integration with external platforms and real-world applications.
Key Achievements:
KYC Verification: Over 19 million users have completed the Know Your Customer (KYC) process, surpassing the initial goal.
Mainnet Migration: More than 10.14 million users have migrated to the Mainnet, exceeding the 10 million target.
Ecosystem Development: The network now hosts over 100 Mainnet-ready applications, creating a strong foundation for Pi's ecosystem growth.
This transition enables users to engage in real-world transactions, develop decentralized applications (dApps), and utilize Pi as a medium of exchange. Additionally, $PI
holders can now deposit their tokens into exchanges like signaling increasing adoption and accessibility.
2. Launch of Pi Network Ventures
In a strategic move to bolster the Pi ecosystem, the Pi Foundation announced the establishment of Pi Network Ventures, a $100 million investment initiative. This fund aims to support startups and businesses that enhance the utility, adoption, and real-world impact of Pi.
Key Features:
Investment Scope: $PI Network Ventures plans to invest in companies ranging from early-stage startups to Series B ventures and beyond, focusing on sectors such as generative AI, fintech, embedded payments, e-commerce platforms, marketplaces, social networks, and real-world consumer and enterprise applications.
Funding Structure: The fund will provide investments in both Pi tokens and US dollars, with a preference for Pi to strengthen its use across supported projects.
Strategic Support: Beyond capital, Pi Network Ventures offers portfolio companies access to Pi's sizable, active, and KYC-verified user base, providing a unique advantage in market access and adoption.
Implications for Stakeholders
Investors: The Open Mainnet launch and the introduction of $PI Network Ventures signal a maturation of the Pi ecosystem, potentially increasing the token's utility and value proposition.
Users: With the network now open, users can actively participate in transactions, access a broader range of applications, and contribute to the ecosystem's growth.
Developers: The availability of funding through Pi Network Ventures presents opportunities to develop innovative applications and services, fostering a dynamic and robust platform.
These developments mark significant strides in $PI Network's evolution, offering enhanced opportunities and functionalities for all participants within the ecosystem. #PiCoreTeam #PiNetworkMainnet