Pi Network Potentially Launches Mainnet December 2024 to Early 2025

Bittime - After a long wait since December 2021, Pi Network is reportedly ready to launch its main network (mainnet) in late 2024 or early 2025. The crypto community, especially Pi Network pioneers, enthusiastically welcomed this development. 

This step towards mainnet is expected to be the key to changing the Pi token. Please note, this token previously only functioned on a closed network and has become an asset that can be traded openly on the global crypto market.

Pi Network Preparation Towards an Open Network

According to the Pi Network development team, the transition to Open Network is an important step to enable pioneers to exchange their Pi tokens into fiat currencies such as rupiah or dollars. 

However, to ensure network security and sustainability, Pi Network is focusing on two main aspects in this preparation period:

1. Bulk KYC Verification

Process Know Your Customer (KYC) is a crucial step to keep the Pi network clean of bots and fake users. The development team continues to encourage more pioneers to complete their KYC verification. 

On October 16, 2024, Pi Network announced the need for more validators to speed up verification and reduce user wait times. The validators involved in this process will receive rewards in the form of Pi tokens, which can later be converted into fiat money once the network is open.

“As the deadline approaches Grace Period, more KYC validators are needed to handle the increase in verification requests and speed up the process so that Open Network goals can be achieved," wrote the Pi Network development team on their official account, @PiCoreTeam.

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2. Decentralized Application Development (dApps)

Apart from user verification, Pi Network is also focused on increasing the number of decentralized applications (dApps) in their ecosystem. The goal is to reach at least 100 applications that solve real-world problems, not just clones of existing platforms. 

Developers hope that with the existence of relevant applications, the Pi token's utility will increase when it begins to be traded openly.

However, the launch of Open Network is also highly dependent on external factors such as global crypto market conditions. The Pi Network team hopes this launch occurs when the market is in phase bull market so that the performance of the Pi token can be maximized. 

Other factors such as geopolitical instability, pandemics, or new regulations are also monitored as they may impact launch timing.

Pi Token Value and Challenges

Currently, the Pi token has no value in the market because it is still in a closed network. The token will only gain value when the main network opens. 

However, it is still unclear at what price Pi tokens will start trading or what their full valuation will be when the launch occurs.

Several examples of similar projects demonstrate the challenges for tokens like Pi. Token tap-to-earn others, such as Notcoin (NOT) and Hamster Kombat (HMSTR), experienced significant declines after launch. 

Notcoin, for example, has lost 77% of its value since peaking last May, while Hamster Kombat plunged 71%. Other examples such as Pixelverse, Dogs, and Catizen are also experiencing similar trends.

There are concerns that the Pi token could experience a decline in value after the first airdrop takes place. This is because many pioneers may choose to sell their tokens as soon as they can be traded on the open market.

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Will Pi Network Be Successful?

As a concept pioneer tap-to-earn, Pi Network faces challenges and high expectations from the crypto community. If the ecosystem and applications built are able to provide real benefits, there is hope that the Pi token can survive and develop. 

However, if not, this token risks suffering the same fate as other similar projects whose value plummeted after launch.

Currently, the crypto community is waiting to see whether Pi Network will actually launch mainnet in December 2024 or early 2025. With careful preparation and the right market momentum, this launch could be a big step for Pi Network and its pioneers. 

However, if external factors are not favorable, the launch could be delayed again — making the wait even longer for the millions of users who have been mining the Pi since its inception.

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