Pi Network is a blockchain project that enables "mining" through a mobile application and boasts a large user base. Its mainnet status and rumors of a "mainnet launch on June 28" have long been a focus of community attention. This article will analyze its current mainnet status and recent official developments based on publicly available information.
Mainnet Status Clarification: The Origin of "Mainnet Launch on June 28"
First, it is important to clarify that Pi Network's "Open Mainnet" officially launched on February 20, 2025. This marked the removal of its network firewall, allowing PI tokens to be traded on external connections and exchanges for the first time. Prior to this, the project launched its "Enclosed Mainnet" in December 2021.
Therefore, the statement "mainnet launch on June 28" does not refer to the initial launch of the mainnet. June 28 is Pi Network's annual community event, "Pi2Day," during which the project team typically releases important updates or announces new milestones. For example, on Pi2Day in 2026, the official team announced adjustments such as the conclusion of the Vibe Coder event and the closure of the Pi Launchpad testing period. Historically, the community has held high expectations for this day, but the mainnet itself had already been open.
Recent Official Technical Progress (As of November 2026)
The Pi Network core team has recently continued its technical iterations and ecosystem development, with key updates including:
- Mainnet Upgrade: On October 16, 2026, the Protocol 28 mainnet upgrade was completed, aiming to optimize delayed transaction data processing and support batch maintenance of smart contracts.
- Developer Tool Updates: Pi Desktop 0.6.4 was deployed on October 22, 2026, simplifying developer tools. Later that month, a redesigned developer portal was also released, PiVerify identity authentication services were enhanced, and AI-assisted application deployment features were added to the SoloHost tool.
- Ecosystem Event: The first online Ecosystem Summit is scheduled to be held from November 17 to 19, 2026, and is expected to showcase over 300 live mainnet applications.
- Security Alert: On October 30, 2026, the core team issued a warning to users about phishing scams targeting wallets, with scam messages often falsely claiming "1 Pi = $314,159."
Project Data and Ecosystem Overview
According to information from multiple market data platforms, as of late October to early November 2026, Pi Network's related data is approximately as follows:
- Token Data: The PI price is in the range of approximately $0.076 to $0.078, with a circulating supply of about 11.32 billion tokens and a maximum supply of 100 billion tokens. The calculated circulating market capitalization is approximately $8.8 billion. Its historical high price occurred on February 26, 2025, at approximately $2.99.
- Users and Nodes: As of June 2026, registered users exceeded 60 million. As of October 2026, over 18 million users had completed KYC verification. The number of network nodes exceeded 420,000.
- Trading Activity: PI tokens are traded on some cryptocurrency exchanges, with 24-hour trading volumes in the millions of dollars.
Market Views and Project Challenges
Pi Network has garnered attention due to its large user base and unique mobile-based access model, but it also faces some discussions:
- Ecosystem Utility: The prevailing market view is that the project's long-term value depends on whether its ecosystem can generate real economic activity and user demand, thereby supporting the token's value.
- Progress and Expectations: Community users have mixed feelings about the progress of KYC verification and balance migration. Some users anticipate the token being listed on more mainstream exchanges, but the official team has not yet released clear plans regarding this.
- Network Openness: Despite being called an "Open Mainnet," the degree of decentralization and full openness of its network remains a topic of discussion both within and outside the community.
Overall, Pi Network has passed the critical mainnet launch phase and is currently in a period of continuous technical upgrades and ecosystem expansion. While monitoring its progress, investors and community members should also be careful to discern market information and guard against related risks.
