Pi Network Launch Date: When Pi Network Will be Launched?

Although Pi Network and the long-awaited mainnet launch are still officially scheduled for 2024, time is running short as the year draws to a close.

In the closing weeks of the Pi Core Team’s grace period for users to switch to the “coming soon” mainnet, the prospect of a complete project launch seems both tantalisingly close and far away.

Pi Network has gained a sizable following of people interested in seeing if Pi’s vision of a payment system can materialise, thanks to its novel method of mining straight from a phone and its potential as a respectable payment initiative.

One thing is for sure, the initiative has done a fantastic job of drawing people to their mobile mining setup. Can the Pi Team achieve similar results throughout its ecosystem? Let’s investigate.

Key Takeaways

• Although no official date has been announced, the core team has hinted that Pi Network’s mainnet launch is anticipated to occur before the end of 2024.
• Over 55 million users had joined the initiative as of September 2024, with 13 million of them being KYC-verified “Pioneers.”
• Pi Network strives to make mining simple and available to everyone by enabling users to mine its money using mobile devices.
• Pi Coins ($PI) will be able to be exchanged for fiat money and other cryptocurrencies thanks to the open mainnet.
• “Pi App Incubator” is launched by Pi Team in advance of the official launch.
• Don’t be shocked, though, if the mainnet launches in 2025.

When is the Pi Network Mainnet Launch?

With only a handful of significant milestones remaining, 2024 appears to be the year that the “Pioneers” from all over the globe will achieve their goals.

The Pi team aims to have 100 apps ready for the mainnet by the time complete launch, as we’ll see below. The Pi App Incubator, which was established on September 13, 2024, appears to be a significant step in driving app adoption.

We’re showcasing the first cohort of the Pi App Incubator 12-week program! From redesigned interfaces to new features, the developers for the five community Pi apps in the Incubator worked hard to improve their apps with the mentorship and resources provided by the Pi Core Team,… pic.twitter.com/tbdtUEOHil

— Pi Network (@PiCoreTeam) September 13, 2024

A very intriguing title, “The Countdown to Pi Open Network 2024,” describes the group’s intentions.

We are also informed that we are close by a recent tweet:

Check out the new Grace Period in-app reminders that show you your individual KYC and Mainnet migration deadlines. The timers will be visible during mining and on the home screen!

The Grace Period is necessary to get the network prepared for the Open Network, and the first 3… pic.twitter.com/c8i0llolWE

— Pi Network (@PiCoreTeam) August 15, 2024

To facilitate more Pioneers’ completion of KYC and migration to the mainnet, Pi Network announced in July a KYC grace period as part of its journey towards the open network phase.

We encourage people to be cautious and wait for updates from the team, but Pioneers naturally look to September 30, 2024, as the conclusion of the grace period, as a possible mainnet announcement date.

New on-chain lockup functionality for Pi Wallet was also revealed not long ago; this feature effectively increases mining rate for Pioneers who successfully transfer to mainnet and lock up their PI.

That happened at the same time as the “Pi2Day” festivities, which sought to get more users over the thresholds (discussed below) so that mainnet could be launched.

Read the full Pi2Day announcement to learn more about the community’s progress in the Open Network conditions and all the products, tech, and community initiatives facilitating it! https://t.co/XEjyQSN1w0 pic.twitter.com/fEDXWR5YHn

— Pi Network (@PiCoreTeam) July 2, 2024

We’ve released the Grace Period algorithms to refine timer pauses based on system blocks. Now, the timer will be much more accurate in pausing for Pioneers who experience the system blocks justified for pauses, reducing unnecessary pauses. Additionally, we’ve introduced a new… pic.twitter.com/vIB053mJXZ

— Pi Network (@PiCoreTeam) September 6, 2024

The team has previously listed objectives that they hope to accomplish before opening the mainnet, on a page slyly named “mainnet2024.” These objectives include:

• 15 million Pioneers are dying Know Your Customer audits
• The beta mainnet will see 10 million Pioneers migrate.
• 100 apps ready for the mainnet.

Thus far, progress has gone smoothly:

The network has reached over 13 million Pioneers who have passed KYC and over 6 million Pioneers who have migrated to Mainnet! Through our collective efforts, we’re progressing towards the Open Network goals. Keep in mind that the progress is not linear and has been accelerating… pic.twitter.com/fXad6mpe59

— Pi Network (@PiCoreTeam) August 8, 2024

When Pi Will Launch Its Value?

Due to the listing news mentioned in the opening, Pi Network Mainnet launch date has become a buzz topic again.

The Pi Core team has comfirmed in its 2022 end-of-year update that Pi Network is at a vital stage in its Enclosed Mainnet development leading up to the Open Mainnet launch. The team is still focusing on completing KYC and making further tech improvements before opening the mainnet to the public, but currently has no set timeline for this transition.

So are all Pi coin listings so far just scams since transaction of Pi through an exchange is prohibited during the Enclosed Mainnet period? It has caused confusion within the Pi Network community and prompted the team to respond to what is going on.

According to a statement from the Pi Core team, all these listings so far were conducted independently of the team, which were not approved and were not in line with the network’s policies. The team is calling for the removal of the coin from these exchanges and is warning users not to engage in trading at this time.

Please be sure to read the Pi disclaimer. As Pi Network is still in its Enclosed Mainnet period and has not yet launched the open mainnet, the platform insists that its token is currently not tradeable.

Effects of  Pi Network

Many people in the bitcoin sector are quite interested in the mining initiative.

As of September 2024, the project boasts 55 million active community members, which is more than many countries. Among them, there are 13 million KYC’d ‘Pioneers’ and 3.3 million followers on X.

As of August 2024, both the official Pi Network account and the Ethereum Foundation account have 3.4 million followers on X, putting them neck and neck if Twitter metrics were the only thing that mattered.

But that’s not all Pi is. Its ultimate goal is to build a Web3 environment that tens of millions of people can utilise with actual apps and utilities.

However, many are still wondering when the Pi Network is expected to emerge, marking the transition from a closed to a whole environment.

Why Pi Is Important

The goal of the blockchain project Pi Network is to make mining available to everyone with a computer or mobile phone. The company is hoping that the project’s native coin, Pi Coin, will be used for regular transactions.

People can use their cellphones to mine PI. Every 24 hours, they can demonstrate their active engagement in the network by clicking a button within the Pi Network app.

One notable difference between Pi Coin and more conventional digital currencies is that it does not necessitate power-hungry mining hardware, unlike Bitcoin (BTC) and other PoW cryptocurrencies. Because of this, it’s clear why the token has attracted such a large community of miners.

Why Pi’s Open Mainnet Matters？

At the Open Mainnet stage, users will be able to trade Pi Coins for fiat money and other cryptocurrencies. On top of that, developers will be able to innovate by building new applications and utilities on top of the strong foundation of the network.

Everyone is talking about this announcement, but the Pi Network crew is being careful. They were concerned that the community’s progress so far could be undone by rushing the transition.

Because of this, they have settled on three requirements to guarantee the launch date of the Pi Coin.

Currently, Pioneers who possess Pi Coin are essentially in possession of an IOU token. The developers has stated that they would be exchanged for an official token that is compatible with crypto exchanges when mainnet begins.

Before the change may take place, these three conditions must be satisfied:

• The group emphasised the significance of finishing all necessary preparations in the areas of technology, products, business, and law. Improvements to the network’s reliability, scalability, and security are still in the works, even if the technical plan is almost complete.
• Decentralisation Objectives: Acquiring 15 million users who have been KYC-verified and migrating more than 10 million Pioneers to the mainnet blockchain are central goals. In order to prove that Pi may be used as money, it is essential to create 100 different utilities and apps that are both high-quality and diverse.
• Optimal External Conditions: The success of Pi, a worldwide cryptocurrency initiative, is dependent on the larger global setting. Consequently, the team has stated that the launch date of the Pi mainnet is highly dependent on variables such as regulatory changes, industrial trends, geopolitical stability, and the lack of global crises.

Conclusion

Either Pi Network will succeed or fail at this critical juncture, and the mainnet launch will be postponed until 2025. The project finally reached its long-awaited milestone in September 2024, having existed for over two thousand days.

After a few more Earth orbits around the sun, we will be able to view our current location.

BTCC will keep you updated with the Pi ecosystem hype, especially the Pi Network launch date. Read the following articles for more information about the Pi Network:

• Is Pi Network Legit Or Scam: Pi Cryptocurrency Real Or Fake?
• Pi Coin Price Prediction 2025:Will Pi Ever Be Worth Money?
• Will Pi Network Ever Launch? What Stage is Pi Network Now?
• Pi Network Price Prediction Hinges on Its Open Mainnet Launch
• Pi Network 2022 Year-End Update
• Pi Network Review: Is Pi a Scam?
• Pi Wallet: Does Pi Network Have a Wallet App?
• Pi Network News: Will Pi Coin List on Binance?
• Will Mined Pi Tokens Be Part Its Circulating Supply?
• How to Create a Pi Network Invitation Code

Disclaimer: Pi coin carries a high level of risk and it is not recommended to trade this coin.

FAQs

1. Is Pi coin real or fake?

Currently, no one knows the answer to the question whether Pi coins are real and legal. There is no cost to install the application. However, there may be issues regarding data privacy and lack of transparency.

2. Is Pi Network worth anything?

As Pi Network is still in its enclosed mainnet period and has not yet launched the open mainnet, the platform insists that its token is currently not tradeable during the period. We believe that Pi coin will have its own real value only when Pi Network launches the much-anticipated open mainnet to the public finally. So will Pi ever be worth money? We have to wait and see.

3. How much is 1 Pi in dollars?

Though several exchanges such as Huobi has listed Pi coin and shows live Pi network value, the Pi Core team asserted that all these listings were conducted independently of the team and were not approved. The team is calling for the removal of the coin from these exchanges and is warning users not to engage in trading at this time.

4. What stage is Pi Network now? Will Pi Network ever launch?

Pi Network has evolved over the years and is currently in its final stages of opening the mainnet to the public. The transition is on schedule, but there is no definite timeline yet.

5. Does it have a Pi wallet app?

Yes, but Pi wallet currently only connect to the Testnet, with only Test-Pi for testing. It will have the real Pi coins inside when Pi Network mainnet goes live, when it will enable actual Pi transfers.

6. Is Pi mining legal?

Yes, it is legal as it does not involve any cash investments to mine it. All you need is about 20 seconds of your time (typically less than 20 seconds) to click on the lightning button to start mining once every 24 hours. If you already have the app, you can wait to see if the founders build something of significant value.

7. What about the Pi coin price prediction?

There is no way to know the future of a cryptocurrency that hasn’t even been launched yet. No one knows if there will be any value of Pi coin at all. Therefore, Pi coin price prediction seems impossible as of this time.

Despite all this, some Pi project enthusiasts argue that the final mainnet launch is not expected to take long to come. They think the smartphone minable coin will hit the public space this year. And Pi coin value could explode soon if listed on top crypto exchanges such as Binance and Coinbase.