TL;DR

The controversial cryptocurrency project promised to introduce the Open Network next week. OKX and Bitget have announced plans to list the PI/USDT trading pair on launch day, while some have speculated that Binance will also follow suit.

Add This Date to Your Calendar

Pi Network made the headlines by announcing that it will officially transition to the Open Network period of mainnet on February 20. The major milestone (if indeed it sees the light of day) will come nearly six years after the projects birth. 

The launch of the Open Network brings an important new change external connectivity to the layer-1 Pi blockchain, creating an environment where Pi can connect securely with external systems, expanding opportunities for Pioneers and businesses, the team explained. 

The developers further clarified that after the launch, anyone can technically add nodes to the mainnet blockchain, in terms of running the protocol and connecting to the network. The Core Team will invite users to transition their nodes from testnet to mainnet via the designated node UI, prioritizing these with strong historical contributions to the ecosystem.

Previously, Pi Networks team assured that the Open Network would go live once 15 million people passed necessary Know-Your-Customer (KYC) verifications. According to the latest disclosure, 19 million Pioneers have successfully completed the procedures, while 10.14 million have migrated to the mainnet. 

The team said users who havent passed the verification process can do so even after the Open Network launch and thus engage with Pi applications in the Pi Browser to support ecosystem development and long-term utility.

It is important to note that the project claimed there would be no further delays on the announced date. We have yet to see whether that will be the case, considering Pi Networks habit of enforcing deadline extensions. 

Whats Next?

The potential launch of the Open Network is a huge step before the Pi token becomes publicly accessible. In other words, this will allow centralized and decentralized exchanges to list the asset for trading.

Two of the leading platforms OKX and Bitget have already indicated their intention to introduce the PI/USDT pair on February 20. Some have speculated that Binance could also follow suit, but the exchange has remained silent on the matter so far.

Currently, the Pi tokens exist but are limited to the projects Enclosed Network phase.