Pi Network Open Mainnet and KYC Progress
Pi Network's Open Mainnet officially launched on February 20, 2025, marking a significant milestone in the project's development. This launch removed external connectivity firewalls, theoretically allowing PI tokens to be transferred and traded outside the Pi ecosystem. However, it's worth noting that the core team views the Open Mainnet as a gradual, condition-based process.
Significant progress has been made in user identity verification (KYC) and mainnet migration. As of June 2026, Pi Network reported over 18 million verified users (Pioneers), with approximately 16 million successfully completing mainnet migration. Furthermore, in September 2026, the Pi team announced that it had resolved KYC issues for over 417,000 potentially duplicate accounts and addressed approximately 497,000 fast-track user wallet issues, continuously optimizing user experience and network health.
Protocol Upgrades and Ecosystem Building
Pi Network's core protocol continues to undergo upgrades to support its ecosystem's development. Among these, Pi Protocol 28 was activated on the mainnet on October 17, 2026, an essential infrastructure upgrade aimed at improving smart contract management. Prior to this, Protocol 27 completed its final upgrade on September 25, 2026, introducing flexible smart contract authentication features, providing developers with more tools.
Regarding the ecosystem, Pi Network announced its first online Ecosystem Summit from November 17 to 19, 2026, focusing on developer tools, application showcases, and a new hackathon, aiming to further stimulate community creativity. As of April 2026, the Pi ecosystem has over 100 DApps running on the mainnet, with over 210 active applications, and more than 23,000 applications preparing to launch through the Pi Studio ecosystem. The Pi core team also continues to release new developer tools, including a local storage API, application-specific staking data access, and native file-sharing capabilities, and has integrated an AI-assisted developer documentation platform.
Market Performance and Diverse Perspectives
As of October 19, 2026, the market performance of the Pi token is as follows:
- Current Price: Approximately between $0.07868 and $0.08187.
- Market Cap: Approximately between $886 million and $920 million, ranking roughly 66th to 82nd among all cryptocurrencies.
- 24-hour Trading Volume: Approximately between $2.63 million and $3.67 million.
- Circulating Supply: Approximately 11.24 billion to 11.26 billion PI.
- Max Supply: 100 billion PI.
- All-Time High: $2.99 (occurred on February 26, 2025).
Market opinions on Pi Network are divided. Some analyses suggest that Pi Network's ecosystem is continuously evolving, and the increasing number of mainnet applications indicates a stronger, more interconnected digital economy. However, other views point out that Pi Network remains a controversial crypto project, facing structural bottlenecks such as insufficient liquidity, pricing discrepancies, and compliance hurdles. The core protocol is not yet fully open-source, and the process of fully opening the mainnet is considered relatively slow.
Trading Channels
Currently, PI tokens can be traded on the following platforms:
- OKX
- Gate
- CoinW
- Bitget
- LBank
- BTCC
- XT.COM
- DigiFinex
- MEXC
- Hibt
- XBO.com
- Webot
- CEX.IO
Please note that major exchanges like Binance and Coinbase currently do not offer PI spot trading. Users should verify platform information and trading pair availability before conducting any transactions.
The platform information in this article is subject to change as exchanges list and delist assets. Please refer to official exchange announcements for the latest updates.
