Franklin

Core

ETF COIN

Pi [IOU]

<ul>
 <li>Pi Network’s Mainnet is set to launch on February 20, 2025, after multiple delays.&nbsp;&nbsp;</li>
 <li>The announcement triggered the price of Pi [IOU] (PI) to surge by 85.47%, jumping from $48.24 to $99.96.</li>
</ul>
Pi Network, a decentralized ecosystem, has <a href="https://x.com/PiCoreTeam/status/1889445244464517293" target="_blank" rel="noopener noreferrer nofollow">announced</a> its official transition to the Open Network phase of its Mainnet on February 20, 2025, at 8:00 AM UTC. The transition to Open Network is a testament to Pi’s 19 million identity-verified Pioneers and the broader community.&nbsp;
For six years, Pi Network has been growing into a thriving peer-to-peer ecosystem powered by its native cryptocurrency, Pi. With the transition to an Open Network, the platform will finally lift its restrictions. It allows seamless external connections and opens the door to wider adoption.
Pi Network has not only met but <a href="https://minepi.com/blog/open-network-launch-date/" target="_blank" rel="noopener noreferrer nofollow">exceeded</a> the key milestones needed for this transition. Also, one major achievement is Mainnet migration, with over 10.14 million Pioneers successfully moving to the Mainnet—surpassing the initial goal of 10 million.
Know Your Customer verification with 19 million pioneers has completed the KYC process, surpassing the 15 million originally required. Followed by the utility-driven ecosystem, the network has reached over 100 Mainnet or Mainnet-ready applications. It likely ensures an active ecosystem at launch.
Significantly, these confirm that the network is prepared for Open Mainnet, enabling seamless participation in Pi-based applications and transactions. Pi Network’s transition is contingent upon other conditions like technical, product, business, and legal requirements that have been completed to support the Open Network phase.
<h3 class="wp-block-heading" id="h-enclosed-to-open-network-journey">Enclosed to Open Network Journey&nbsp;</h3>
Since December 2021, Pi Network has operated within an Enclosed Network, giving Pioneers the time to complete KYC. Moreover, to transfer their balances, and develop decentralized applications (dApps) in a secure, controlled environment—without external blockchain access.
This phase provided a controlled environment to strengthen security, scalability, and utility before full-scale deployment. With Open Mainnet, Pi holders can engage in transactions beyond the enclosed ecosystem and unlock greater adoption potential for the cryptocurrency.&nbsp;
Although there have been delays in the past, including an <a href="https://thenewscrypto.com/pi-network-price-fluctuates-as-community-questions-grace-period-extension/" target="_blank" rel="noopener noreferrer nofollow">extension</a> of the KYC and migration deadline to February 28, 2025. The Pi Core Team has made it clear—there won’t be any more pushback. The February 20 launch is set to proceed as planned.&nbsp;
Besides, the announcement brought in the price surge of Pi [IOU] (PI) by over 85.47%, reaching $99.96 from a low of $48.24. At press time, the asset <a href="https://coinmarketcap.com/currencies/pi-iou/" target="_blank" rel="noopener noreferrer nofollow">trades</a> at around $90.31 with the daily trading volume having increased 108% hitting $639K.
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Pi Network to Launch Its Open Mainnet on February 20

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