PI, which is its own crypto currency, will begin to be traded on the OKX exchange on February 20, 2025, after announcing the Pi Network main network launch. However, while this announcement creating uncertainty among some investors, concerns about the possibility of Pi Network away from centralism and the problems in the KYC processes were expressed.
Pi Network Listing Announcement from OKX
The crypto exchange OKX announced that it will add Pi Token to the spot trading market. Users will be able to start PI deposit from 02:45 UTC. Spot transaction trade will be opened at 08:00 at 08:00 on February 20, and the shooting transactions will be activated at 08:00 on February 21 at 08:00.
Pi Network allows Pi Coin mining through mobile devices. The platform aims to make crypto mining accessible to everyone and reduce their environmental impact. Pi’s main network will officially open on February 20, 2025 and thus the transition of the project to the “open network” period will take place.
Hard rise in PI Token Price
After the Pi Network was announced in OKX, PI TOKEN’s IOOU price rose rapidly. It has increased by 80 percent in the last 24 hours to 86 dollars. According to Coingecko data, the PI’s IOOU price increased by 112 percent last week.
IOULUKEKs are a debt mechanism that allows purchase and sale before officially exercised on the market. It is observed that Pi Network’s interest in listing has increased significantly.
Concerns about Pi Network
Some investors opened the risks to listing OKX’s PI Token. On the X platform, a user suggested that Pi Network could move away from the decentralized structure and that this listing could harm the project.
https://x.com/asenup4/status/1889548861875822940
In addition, Pi Network’s growth with the reference system and the perception of this model as a pyramid structure caused criticism. Users say that uncertainties about the sustainability of the platform continue.
Delays in the KYC process
Users who want to process on the main network in Pi Network need to complete the KYC verification process. Businesses must pass through the PUK process. However, some investors stated that they had difficulty due to limited quotas and technical problems during the KYC process. Due to these delays, some users are thought to be able to reach the OKX listing.
Pi Network’s KYC verification process was previously postponed from 31 November to 31 December and then to 31 January. The fact that millions of users cannot switch to the main network yet shows that the process is still not completed.
Critical process for Pi Network
Six years have passed since the development of Pi Network, and in this process, many users switched from Web 2.0 to the Web 3.0 ecosystem. However, some investors argue that OKX should be transparent in the listing process and inform users to possible risks.
The official launch on February 20 will be a critical turning point in determining Pi Network’s long -term success. The completion of the KYC process and the provision of investor confidence are among the decisive factors for the future of the platform.
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