Pi Network Mainnet Launched: Key Milestones and Recent Progress
Pi Network's (Pi Coin) open mainnet officially launched on February 20, 2025, at 8:00 AM UTC, marking the first time its ecosystem enabled external transactions and connections. Since then, the project has continued to advance, reaching the "broader community phase open mainnet milestone" on March 14, 2026.
The Pi Core Team is actively conducting protocol upgrades and has set August 11, 2026, as the deadline for all mainnet node operators to upgrade to Protocol v26, ensuring network stability and compatibility, and laying the groundwork for the subsequent Protocol v27 upgrade.
Ecosystem Expansion and Token Utility
Pi Network has recently achieved several ecosystem collaboration milestones. On August 5, 2026, the project announced a partnership with Fabric Foundation's RoboPay, aiming to enable PI token holders to pay for robot services such as grocery delivery and security patrols, thereby increasing the practical application scenarios for the token.
During the Pi2Day event on June 28, 2026, the core team released new product and ecosystem updates, focusing on computing, artificial intelligence (AI), and identity tools, further enriching Pi Network's ecosystem functionalities.
User Migration and KYC Verification Status
User migration to the mainnet and KYC (Know Your Customer) verification are crucial aspects of Pi Network's ecosystem development. As of early 2026, over 16 million Pioneers have successfully migrated to the mainnet, while approximately 16.5 million users have completed KYC verification. KYC is a prerequisite for users to migrate their mined PI tokens to the mainnet.
Market Performance and Tokenomics
As of August 5-6, 2026, the PI token was trading at approximately $0.08715 to $0.0872. Its all-time high reached $1.97, but it has significantly dropped compared to the IOU (I Owe You) price of $61-70, with the current price well below its historical peak. As of August 6, 2026, Pi Network's market capitalization climbed to approximately $1.01 billion, with a 24-hour trading volume increasing to $17.16 million.
According to PiScan data, nearly 775.8 million PI tokens are expected to be unlocked by the end of 2026, as part of the approximately 1.21 billion tokens scheduled for release in 2026. This token unlock is anticipated to significantly increase its liquid supply (currently around 11 billion tokens), potentially creating selling pressure on short-term market prices.
PI Token Trading Platforms and Market Views
Currently, PI tokens are listed and tradable on major cryptocurrency exchanges such as OKX, HTX, Bybit, MEXC, Gate.io, BitMart, and Bitget. Kraken has added Pi Network to its 2026 asset listing roadmap and launched Pi perpetual futures contracts in 2025. However, Binance conducted a community poll to gauge listing interest but has not yet taken action, while major exchanges like Coinbase generally express concerns about Pi Network's decentralization and tokenomics.
Market analysts hold differing views on Pi Network's future. Some believe that protocol upgrades and partnerships like RoboPay are positive signals that could drive PI prices up. However, others point out that despite technical upgrades and utility advancements, PI token prices remain near historical lows, and the market is still awaiting further proof of its widespread utility. The large-scale token unlock plan is also seen as a factor that could exert short-term price pressure.
