Pi Network News: Mainnet Migration, Ecosystem Expansion, and Market Outlook

In May 2025, Pi Network (PI), as one of the largest decentralized projects in terms of global user base, ushered in a key development stage. From the progress of Mainnet migration to the landing of ecosystem applications, and the resilient performance of market prices, the dynamics of Pi Network continued to stir the nerves of the crypto community. This article comprehensively analyzes the latest developments and future trends by summarizing recent core events.

Mainnet migration and decentralization milestone

Since the Mainnet launch of Pi Network on February 20, 2025, the process of user migration and compliance has been gradually advancing. As of May, over 20 million users have completed KYC verification, and over 10 million nodes have successfully migrated to the Mainnet, laying the foundation for network decentralization. On May 14, the official further closed central nodes and announced the open-sourcing of the code, marking a substantial step towards ‘full decentralization.’ This move not only enhances community trust but also addresses external concerns about its ‘centralized’ architecture.

In addition, the core team emphasizes that the Mainnet is still in a ‘closed stage’ and has not fully opened up for free transfers to prevent speculative manipulation. This ‘delayed circulation + ecological priority’ strategy has become a key factor in the current price stability.

Ecosystem Accelerates Expansion: From Concept to Practical

Pi Network’s ecosystem made significant breakthroughs in 2025:

• The number of DApps has exceeded 100, covering areas such as e-commerce (PiChainMall), social (Fireside Forum), cross-chain interaction (PiBridge), etc., forming a preliminary Web3 Application Matrix.
• OpenHub platform launched to promote interoperability with public chains such as Ethereum, expanding multi-chain application scenarios.
• May 14th major announcement preview of the ecological incentive plan, may establish something similar BNB Chain’s incubation fund attracts developers to build practical applications.

These developments mark the transition of Pi from a ‘mining experiment’ to ‘value-driven’, with its token PI gradually embedded in practical payment, transaction, and other scenarios, providing support for long-term value.

Price Performance: The Logic Behind Resilience

Despite facing token unlock pressure, PI price still demonstrates stability beyond expectations:

• The current circulating supply of PI is 7.17 billion, but most tokens are in a ‘book locked’ state due to Mainnet restrictions, so the actual circulation is limited.
• In the past month, the Gate exchange price has been maintained at 0.6–1.6 US dollars. After the decentralized progress was announced on May 14th, the price briefly rose by nearly 5%.
• Strong market consensus: The community generally anchors expectations at $3-10 after the Mainnet is open, forming a ‘reluctance to sell’ sentiment.

However, the risk of selling pressure brought by the unlocking of 231 million tokens in the second quarter still exists, and attention should be paid to short-term fluctuations caused by insufficient liquidity.

Future Outlook: Three Key Variables

• Mainnet schedule: The community speculates that the official may announce a progressive opening strategy in the future, such as enabling transfers in phases or cooperating with exchanges for testing.
• Exchange listing expectations: If the rumors of listing on more mainstream platforms come true, it will significantly increase liquidity and market recognition.
• Ecological application internal circulation: If the DApp user activity and transaction volume continue to grow, PI is expected to break away from its ‘speculative nature’ and become a utility token.

The unique feature of Pi Network lies in its “user growth priority” path - accumulating over 50 million real-name users in 5 years, and building a strong community consensus. Despite facing token economic challenges and market uncertainties, its “slow is fast” strategy may open up a new paradigm in the Web3 track.

Investors need to pay close attention to the progress of the ecosystem landing and the pace of Mainnet opening in the second half of 2025, and rationally assess the balance between short-term fluctuations and long-term value. As its founder Nicolas Kokkalis said, “Pi’s goal is not to be a speculative tool, but to reshape the infrastructure of the global digital economy.”