Pi Network Coin is preparing for its open mainnet launch, a major milestone for the project that has captured the attention of the crypto community. With the mainnet just hours away, here are five key details investors and enthusiasts should know about the Pi Network Coin.
1. Revolutionary Mining Model
Pi Network Coin operates with a distinct approach compared to traditional cryptocurrencies like Bitcoin and Ethereum. Unlike the energy-intensive Proof-of-Work (PoW) and Proof-of-Stake (PoS) systems, Pi Network uses a mobile app and an energy-efficient process based on the Stellar Consensus Protocol (SCP). This allows anyone with a mobile device to mine Pi coins, making digital assets more accessible to people worldwide.
2. Mainnet Launch Imminent
After several delays, Pi Network is set to launch its open mainnet on February 20, 2025, at 8 AM UTC. This marks a significant leap for the project, transitioning from a closed testnet phase to a fully operational network. Following the launch, users will be able to trade Pi Coin on supported crypto exchanges and spend it within the Pi Network’s marketplace for goods and services.
3. KYC Verification Essential
To participate in the open mainnet, users must complete the Know Your Customer (KYC) verification. A grace period for KYC has been extended until February 28, 2025, allowing users to verify their identity and transfer mined Pi coins to the mainnet. Those who fail to complete KYC may face restrictions, such as being unable to transfer Pi tokens externally or participate fully in the network.
4. Building Real-World Adoption
Pi Network is focused on achieving real-world adoption by building a hub where users can spend Pi on goods, services, and applications. The network has already launched 20 mainnet apps that offer various services within its ecosystem. With more businesses and applications expected to integrate Pi, its demand and value are anticipated to increase as it moves closer to mainstream use.
5. Exchange Listings in the Pipeline
Pi Network Coin is gearing up for listings on several major crypto exchanges. MEXC Exchange has already confirmed it will offer Pi for pre-market trading, and platforms like HTX, Gate.io, and Bitget will list Pi Coin on February 20, 2025. Binance’s community has also voted overwhelmingly in favor of listing the token, with over 88% of participants supporting the move. The listing vote remains open until February 27, 2025.
As the open mainnet launch approaches, the Pi Network Coin is poised to make its mark in the crypto market, bringing new opportunities for users and investors alike.
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