Pi Network Launches External Network Despite the Buzz of Listing on CEX

Bittime - Pi Network, a blockchain-based platform that allows users to mine PI digital assets, will soon enter a new phase with the launch of the External Network.

After several delays, the development team finally confirmed that the open network will go live on February 20, 2025. This move allows users, known as Pioneers, to transact outside the Pi Network ecosystem.

Amid the enthusiasm of the community, various speculations have emerged regarding the potential listing of Pi tokens on centralized crypto exchanges (CEX). Although several exchanges have announced listing plans, controversy still surrounds the validity of this project in the eyes of industry players.

Read also: Is Pi Network (PI) the Best Crypto to Buy in February 2025?

External Network Pi Network: What Has Changed?

Since December 2021, Pi Network has been operating in a Closed Network phase, which limits external interaction. With the launch of the External Network, the platform will begin to connect with other blockchains, enabling wider access and increasing the utility of PI digital assets.

Major changes to come include:

Blockchain Interoperability: Users can transact with external networks, expanding the Pi Network ecosystem in the real world.

Node Migration to Mainnet: The Pi Network team invites experienced users to migrate their nodes from testnet to mainnet to improve network stability.

Identity Verification on Blockchain: Pi technology enables identity verification for individuals and businesses, something rarely found on other Layer-1 networks.

According to Nicolas Kokkalis, co-founder and Chief Technology Officer of Pi Network, the project aims to provide wider access to digital assets with the ease of mining on mobile devices. This makes Pi an inclusive platform for millions of people around the world.

Controversy and Challenges Towards an Open Network

Although the launch of the External Network brings new hope, the project still faces skepticism from the crypto community.

One of the main criticisms raised is related to the Pi Network business model, which is considered similar to a multi-level marketing scheme. This has caused some major exchanges to be reluctant to list Pi tokens on their trading platforms.

Bybit CEO Ben Zhou has openly refused to list Pi Network tokens on his platform. In an upload on X (formerly Twitter) on February 12, 2025, he stated that his past experience in the trading world made him cautious of projects like Pi Network.

Apart from Bybit, other exchanges such as Bitget also seem to be avoiding involvement with this project. A report from crypto journalist Wu Blockchain states that Bitget has removed various promotional content related to Pi Network from their platform, showing caution towards potential risks that may arise.

Exchanges that Support Pi Network

Although some exchanges are skeptical, there are also exchanges that are boldly stepping forward by supporting Pi Network tokens. OKX, one of the leading crypto exchanges, has announced that it will begin accepting Pi token deposits on February 12, 2025.

Spot trading will begin on February 20, while withdrawals will open the day after, on February 21, 2025.

OKX's move sends a positive signal to the Pi Network community, especially to the Pioneers who have been waiting for the mainnet to open and the opportunity to trade their digital assets in a wider market.

Read also: Pi Network Launches on Mainnet: How High Will PI Coins Price Be in the Future?

Conclusion

The launch of the Pi Network External Network marks an important milestone in the journey of this project. With connections to other blockchain networks, users will have more opportunities to utilize their digital assets outside of the Pi ecosystem.

However, challenges remain, especially in convincing major exchanges and the crypto community of the validity and long-term viability of this project.

For Pioneers, the decision to stay or sell their tokens after the mainnet opens is something to consider carefully. With support from some exchanges like OKX and skepticism from others, the future of the Pi Network is still full of uncertainty, but also great opportunity.

FAQ

When will Pi Network launch the External Network?

Pi Network is scheduled to launch the External Network on February 20, 2025, enabling transactions outside the Pi ecosystem.

Is Pi Network already listed on major crypto exchanges (CEX)?

Some exchanges such as OKX have announced support for Pi tokens, while others such as Bybit are still refusing to list them.

What are the benefits of launching the External Network Pi Network?

With the External Network, users can transact with other blockchains, increasing Pi adoption and expanding the use cases for this digital asset.

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Reference

cryptoslate.com, Pi Network prepares to open to external networks amid listing challenges, accessed February 14, 2025.

Author: AWW