Pi Network to Launch Open Network on Feb 20, PI Soars 60%

Highlights:

• Pi Network’s Open Network phase will launch on February 20 at 3:00 AM UTC.
• It will connect with external blockchains, businesses, and exchanges.
• OKX will launch the Pi token on February 20, with deposits starting February 12.

On February 12, Pi Network’s X (Twitter) account shared the highly anticipated announcement about the official launch of the Open Network phase. The network will officially open at 3:00 AM UTC on February 20. This change moves Pi from a closed network to an Open Network, allowing listings on major exchanges like Binance and OKX.

Pioneers, Open Network will launch at 8am UTC on February 20, 2025! With millions of KYC-verified Pioneers and a thriving utilities-driven ecosystem, Open Network expands available opportunities, which allows Pioneers to connect Pi with external systems for use in real-world… pic.twitter.com/AdpXNhpcUD

— Pi Network (@PiCoreTeam) February 11, 2025

Pi Network’s Journey: From Launch to Fully Functional Cryptocurrency

Pi Network, launched in 2019 by Stanford graduates, has developed a strong community of miners called Pioneers. The platform allows users to mine Pi coins using a mobile app.

It aims to make cryptocurrency mining more accessible while minimizing its environmental impact. The project describes itself as a “decentralized peer-to-peer ecosystem” that relies on a referral-based growth model.

Within two years, Pi Network reached a major milestone by launching its Mainnet, but it was not an open launch. Instead, it marked the start of the Enclosed Network phase, where the blockchain was operational but restricted from external connectivity. The Enclosed Network phase o complete KYC (Know Your Customer) verification and migrate their Pi tokens to the Mainnet. This enabled developers to build and test real applications within the Pi ecosystem. It also gave the Core Team time to refine Pi’s infrastructure and features before allowing full external access.

However, delays in transitioning to a fully decentralized open network occurred due to the need for KYC verification and mainnet migrations. With over 19 million verified users and more than 10.14 million Pioneers migrated, Pi is now prepared to operate as a fully functional cryptocurrency.

The Open Network Launch: Major Changes and New Opportunities for Pi

The Open Network launch brings significant changes to Pi. Pioneers can use Pi beyond the Pi ecosystem, including potential listings on exchanges and integration with other networks. Businesses will also need to complete KYB verification to accept Pi payments securely. Meanwhile, major exchange listings could increase Pi Coin’s demand and impact its price.

Despite the excitement, the project has faced criticism. Issues like mainnet delays, pyramid-like claims, and data privacy concerns have raised doubts about its credibility. “Pi’s open network will be a disappointment for more than half of the Pi Community as they are expecting unrealistic value,” one user wrote on X.

Pi Token (PI) Set to List on OKX: What Traders Need to Know

The Pi Network’s native token, PI, is set to list on OKX starting February 20. Users can begin depositing PI tokens on February 12 at 2:45 UTC. Spot trading for the PI/USDT pair will start on February 20 at 8:00 UTC, with PI withdrawals opening on February 21 at 8:00 UTC.

📢 #NewListing #OKX will list $PI @PiCoreTeam!

🟢 $PI/USDT Spot trading will begin at 8:00 AM on February 20 (UTC)

More: https://t.co/HeKW5ergKh pic.twitter.com/pTy46CVZ8e

— OKX (@okx) February 12, 2025

Following the OKX announcement, the IoU price for PI saw a significant surge, rising nearly 60% within 24 hours, as per CoinMarketCap data. Currently, the IoU price for PI stands at $78.61. Over the past week, the price has skyrocketed by 95%, while PI’s 24-hour trading volume is $787,86.

Before the Open Network launch on February 20, Pioneers should complete KYC, migrate Pi to the Mainnet, and use Pi apps. After the launch, they can explore external transactions, watch for exchange listings, keep mining, and support businesses that accept Pi.