February 20, 2025 – this date is going to be historic for Pi Network. After a long wait, Pi’s open network mainnet is going to be launched. Along with this, many big exchanges are listing the Pi token, which has sparked a new debate in the market about its legitimacy. Platforms like OKX, Bitget, and MEXC have confirmed the addition of Pi on their exchanges, while HTX (formerly Huobi) has hinted at the listing of the real token by temporarily stopping IOU trading.
But is it really going to be a revolutionary blockchain ecosystem, or is it going to be just another hype?
Pi Network: Democratization of digital currency or multi-level marketing?
Pi Network promotes itself as a platform that gives people the opportunity to mine crypto without any expensive mining hardware. The idea of mining through a mobile app sounds great, but its mechanism has always been questionable. Pi users have to add other people to the network to continue mining, which makes it a bit like multi-level marketing (MLM).
Although the Pi team claims that it is a legitimate crypto project that promotes blockchain decentralization, its closed mainnet policy and ban on external wallet transfers have so far prevented it from being a transparent project.
Exchange listings and investor expectations
Exchanges like OKX, Bitget, and MEXC are supporting Pi’s listing, giving Pi holders hope that they will finally be able to trade their tokens. But the biggest concern is how much will Pi be worth?
Pi’s IOU trading was already above $70, indicating a strong demand. But it will be interesting to see if this price will be sustained when the actual Pi token comes into trading.
HTX’s decision to stop IOU trading and payout users in USDT at a rate of 1:61.28 shows that exchanges are also confused about the value and liquidity of Pi.
Legal and market instability risks
The biggest issue with Pi Network is its pyramid-like structure and the inexperience of investors. Many users, who have earned tokens just by clicking on mobile, will not be able to understand the fluctuations of the market. If a large-scale selling suddenly starts, the price of Pi can also crash.
In addition, many countries have strict rules regarding structures like multi-level marketing. If any legal flaws are found in Pi’s tokenomics, it may also face legal actions.
Will Pi usher in a new era?
Supporters of Pi Network believe that it can become a means of making digital currency accessible to the masses, while critics see it as just a well-marketed scheme.
In the coming weeks, when the actual Pi tokens trade on exchanges, it will become clear whether this project will truly bring a revolution or will just turn out to be another speculative bubble.
What is your opinion? Will you invest in the Pi token, or are you skeptical? Share your thoughts in the comments!