Pi Network Binance Listing Sparks Backlash as Community Pushes Back
A recent poll conducted by a Pi Network community account on X asked followers, “Do you want to see $Pi listed on Binance?” Surprisingly, the majority voted against the idea. Many users argued that the project isn’t ready for a major exchange listing, citing unresolved technical and operational issues.
Why Are Pi Users Opposed to a Binance Listing?
A central concern among users is the network’s ongoing KYC (Know Your Customer) issues. The KYC process is meant to verify user identities and unlock their Pi tokens—but many report it's broken. Some users say they've been stuck in limbo for months, even years, despite following all verification steps. One frustrated user commented, “Not until my KYC gets approved—still waiting… 4 months and counting.”
The problem lies in Pi’s "security circle" model, which requires multiple people to complete KYC in order for one person's tokens to unlock. With low participation in the Pi Validation Program, many users are left waiting indefinitely. Some suspect this bottleneck might be intentional, designed to delay token access. One user claimed they were muted by moderators after raising concerns. Others report losing access to thousands of tokens without prior warning, including one early adopter who said they lost 2,500 Pi.
In addition to KYC frustrations, users are also flagging issues with the Pi wallet system. Following the mainnet migration, several have complained about missing balances or wallets failing to load properly.
The Pi Network team has set a deadline of March 14, 2025, for users to complete KYC and migrate their tokens to mainnet. After that date, unclaimed tokens will be forfeited. As frustrations mount, the price of Pi has dropped over 10% in the past week, now trading at $0.6526, according to CoinMarketCap.
Meanwhile, users who have completed KYC are expressing anger that newer projects like Bondex are getting listed on Binance, while Pi continues to be overlooked.