Key Points
- The project’s Open Network launched today at 08:00 (UTC).
- Pi Network is a project that allows users to mine crypto from their mobile devices.
Pi Network (PI) went live to multiple crypto exchanges today. The project’s Open Network launched at 08:00 (UTC) and this transition will allow PI to interface with other compliant networks and systems.
In other words, Pioneers will be able to engage in transactions being the PI ecosystem, expanding PI’s utility and reach, according to the official notes of the project.
PI Goes Live on Multiple Crypto Exchanges
PI has listed on Bitget Spot and other exchanges. At the moment of writing this article, PI is trading at $1.57, up by 23% since launch. Earlier, the coin reached a top at $1.97, according to data from CoinGecko.
The maximum PI supply is 100 billion coins and the total supply is over 9.7 billion.
What is Pi Network (PI)?
Pi Network allows users to mine crypto from their mobile devices, as of January 2025. the project reportedly amassed over 60 million users worldwide.
The Pi Network users are known as Pioneers who perform the following:
- Mining PI
- Validating transactions
- Contributing to dApps
- Advancing the project toward its Open Network launch
PI Mining
Users can mine PI coins from mobile devices without needing energy-intensive hardware. This is achieved via a consensus mechanism adapted from the Stellar Consensus Protocol which relies on a trust-based network rather than PoW system.
Mining PI will not drain battery life or require continuous app usage, as users simply tap a button once a day to maintain their mining session.
Pi Network’s mining mechanism is meritocratic and users can boost the mining rate by:
- Building security circles by adding trusted members
- Expanding the network by inviting others to join Pi Network
- Engaging with PI apps in the ecosystem
The Launch of Open Network
Today, the project saw the launch of its Open Network at 8:00 AM (UTC) which enables external connectivity on the Mainnet blockchain. The team behind the project announced that Pioneers can engage in transactions beyond the PI ecosystem.
Pi Network via XToday’s launch removed the previous existing firewall, enabling external connectivity.
Previous project phases included the following:
- The Beta phase of the project was launched on March 14, and was focused on testing the app.
- The Testnet phase was initiated on March 14, 2020, and was focused on testing and ensuring network stability.
- The enclosed Mainnet phase began in December 2021, with a firewall preventing external connectivity.
Open Mainnet Launch Changes
Today’s launch brings the following changes for Pioneers:
- External transactions, with the ability to send PI coins to external wallets.
- Exchange listings, with PI being listed on multiple exchanges.
- Boosted utility via dApps, expanding the ecosystem.
- KYC verification requirement, to ensure a secure, compliant environment.
