Is Pi Coin Released: Current Status and Insights

For years, the global cryptocurrency community has asked one primary question: is pi coin released? As of February 20, 2025, the Pi Network officially moved from its restricted 'Enclosed Mainnet' to the 'Open Mainnet' phase. This milestone marks the formal release of the PI coin, allowing it to be traded on external exchanges and transferred between users globally. For the tens of millions of 'Pioneers' who mined tokens on their mobile devices, this transition represents the moment their digital assets gained real-world liquidity and market value.

Pi Network (PI) Official Release and Mainnet Status

The Pi Network project, founded by Stanford graduates Dr. Nicolas Kokkalis and Dr. Chengdiao Fan, sought to democratize crypto mining via mobile technology. After a prolonged development cycle that began in 2019, the network's 'official release' is now a reality. The transition to Open Mainnet on February 20, 2025, removed the firewall that previously blocked external blockchain connectivity. This means the PI coin is no longer just a balance in a mobile app; it is a live asset on a functional blockchain. As of late February 2025, the network has entered a phase of rapid expansion, focusing on ecosystem utility and institutional integration.

The Roadmap to Release: Development Phases

Understanding the release of Pi requires looking at the structured phases the project underwent to ensure security and decentralization.

Beta and Testnet (2019–2021)

Launched on Pi Day (March 14), 2019, the Beta phase focused on user acquisition and testing the basic mobile mining interface. By 2020, the Testnet was launched, allowing developers to test the Stellar-based consensus mechanism without risking real assets. During this time, the community grew to over 10 million users, though the coin remained unreleased in a financial sense.

Enclosed Mainnet (2021–2025)

In December 2021, the live blockchain was launched but remained 'enclosed.' This period was designed to allow time for millions of users to complete Identity Verification (KYC) and migrate their balances to the mainnet. While the is pi coin released query was often met with 'no' during this phase, internal peer-to-peer transactions were permitted within the Pi ecosystem applications.

Open Mainnet Launch (February 20, 2025)

The firewall was officially dropped on February 20, 2025. This date is recognized as the definitive answer to when the Pi coin was released. It enabled the PI token to interact with other blockchains and allowed cryptocurrency exchanges to list the native token for public trading.

Tokenomics and Supply Post-Release

With the release of the coin, the economic structure of the Pi Network became transparent. According to official whitepaper data updated for the 2025 launch, the total supply is capped at 100 billion PI. However, the circulating supply is significantly lower because it depends on the speed of user KYC migrations.

Total and Circulating Supply

Of the 100 billion tokens, 80% is allocated to the community, while 20% is held by the Pi Core Team. As of the February 2025 release, approximately 10 to 15 billion tokens are estimated to be in active circulation, with a large portion still locked in user vesting schedules to prevent market flooding. The following table illustrates the distribution at the time of the Open Mainnet launch:

Data Source: Pi Network Official Whitepaper Update (2025). The gradual release of these tokens is managed by smart contracts to ensure long-term stability.

Migration Process

To access released tokens, users must complete a 7-step checklist in the Pi app, including KYC and wallet creation. Once verified, their 'Mobile Balance' is moved to the 'Mainnet Balance,' where it becomes transferable. This process is essential for maintaining regulatory compliance and preventing bot activity.

Market Performance and Exchange Listings

Immediately following the release, the PI coin saw significant interest from major trading platforms. The market response provided the first concrete price discovery for the asset, which had previously traded only as 'IOUs' on a few secondary markets.

Initial Price Discovery

On February 20, 2025, PI opened at approximately $1.47 on major exchanges. In the first 24 hours of trading, the volume exceeded $400 million, reflecting the massive user base of the project. While the price reached an initial peak of $3.10, it eventually stabilized as more Pioneers migrated their tokens and increased the available sell-side liquidity.

Supported Platforms and Bitget Advantage

Following the Open Mainnet event, Bitget was among the first top-tier exchanges to support the native PI token. For users looking to trade PI, Bitget offers a robust environment with high liquidity and a $300M Protection Fund to ensure user safety. Currently, Bitget supports over 1,300 coins, making it a premier destination for both new and experienced traders.

Users on Bitget benefit from competitive fees: Spot trading fees are 0.1% for both Makers and Takers (reduced by 20% when using BGB), while Futures fees are 0.02% for Makers and 0.06% for Takers. These features make Bitget a top-tier choice for those managing their newly released Pi assets.

Technical Infrastructure and Ecosystem

The release was accompanied by a major technical upgrade to Protocol v23, aligning Pi with the latest global blockchain standards (comparable to Stellar's recent upgrades). This ensures interoperability with other financial systems and improves transaction speeds.

Decentralized Applications (dApps)

At the time of release, the Pi ecosystem featured over 100 functional dApps. These include Pi Browser utilities, gaming platforms, and early-stage DeFi protocols. The release allows these apps to accept PI as a legitimate payment method for external goods and services, moving beyond a closed loop.

Challenges and Criticisms

Despite the successful release, the project faces ongoing scrutiny. The long delay between the 2019 launch and the 2025 release led to skepticism, with some critics labeling the project a 'social experiment' rather than a financial one. Additionally, the KYC bottleneck remains a challenge, as millions of users are still waiting for verification, which limits the actual liquid supply in the market.

Future Outlook and Development Roadmap

The post-release roadmap for Pi Network focuses on three pillars: decentralization of nodes, smart contract implementation, and institutional adoption. With the Open Mainnet now active, the project aims to attract more third-party developers to build on the Pi blockchain. As the network matures, the focus will shift from user growth to sustainable utility, ensuring that the PI coin remains a viable medium of exchange in the broader Web3 landscape.

To stay updated on the latest PI price movements and market trends, users can explore more Bitget features and utilize the Bitget Wallet for secure on-chain storage. As a leading global exchange, Bitget remains committed to providing the most up-to-date tools for the evolving Pi ecosystem.