What is Pi Mainnet? (Enclosed & Open Mainnet explained)
ByMB Team
You have landed on this page to learn about the Pi Mainnet, which means you already have a decent or enough idea about the Pi Network, and probably you are also a part of it. So let’s skip over the Pi Network abbreviations and get right to the point: “What is Pi Mainnet?“
Simply, in the context of the Pi Network, the mainnet can be understood as a wallet system for the Pi cryptocurrency. Users can transfer their minted Pi tokens from their Pi Network account into the mainnet for future transactions like exchanging goods and services and trading activities.
Let’s explore the subject in more detail.
What is Pi Mainnet?
Pi Mainnet is Pi Network’s blockchain protocol (platform) that allows the exchange of Pi coins for goods and services. The Pi Mainnet is designed to be the platform for conducting transactions with Pi tokens. Once the mainnet goes public, Pi holders can trade Pi coins on the mainnet through any crypto exchange.
The Pi coins are mobile-mineable and mining does not drain your device’s battery. To earn Pi coins, all you need to do is create a security circle and show your daily presence on the Pi Network app by clicking the mine button every 24 hours.
It had already been a couple of years since Pi Network’s release, and the digital currency wasn’t listed on any exchange. As a result, a considerable number of pioneers were getting demotivated to stay active in the community.
However, after the launch of the enclosed mainnet, it contributed a lot to garnering users’ faith in the Pi Network initiative, as this is the final road to becoming a listed cryptocurrency.
That said, the future value of Pi Network depends entirely on the community’s support, interest, and active participation.
The launch of the enclosed version of Pi Mainnet also shows how serious the developers are about making their initiative a recognized and valuable cryptocurrency. However, it is still a fact that a Pi coin has a value of $0 on the public market.
The open Mainnet launch is currently a hot topic within the community, although the officials have not yet confirmed a date or an updated roadmap.
The Mainnet is the third and last phase of Pi Network’s official roadmap to becoming a completely open blockchain network. This phase is further broken down into two periods:
- Enclosed Mainnet (firewalled network)
- Open Mainnet (open network)
Pi Network Enclosed Mainnet
After the successful completion of the Testnet phase, the Pi Network entered the enclosed Mainnet in December 2021, allowing pioneers to transfer their mined Pi coins to the Mainnet. However, there are certain steps to be followed to be able to do so (as discussed in the following section).
This version of the Pi Mainnet is firewalled and no external activity is allowed. Pioneers can only use their Pi tokens within the enclosed Network, i.e., within Pi’s blockchain. Users will not be able to trade this digital currency on crypto exchanges such as Binance, Coinbase, Kraken, and more.
The project’s core team has deployed this phase of Mainnet to give millions of users enough time to complete their KYC, use the enclosed Mainnet to test and deploy dApps, and develop a stable ecosystem.
As of writing, Pi Network is still in the enclosed Mainnet phase.
Pi Network Open Mainnet
The open Mainnet is the version of Pi Mainnet when the firewall will be removed from the current Mainnet. This means once the Pi Network enters the open Mainnet phase, Pioneers will be able to transact with Pi coins across different exchanges.
Although there is no announcement for the launch of the Open Mainnet, we may expect the launch on either Pi Day or Pi2 Day. The former falls on March 14 and the latter falls on June 28.
The open Mainnet was expected to go live on either March 14, 2022, or June 28, 2022, according to the Pi Network Whitepaper, but it wasn’t able to do so on either date due to a variety of factors.
Indeed, Pi Day 2023 and Pi2 Day 2023 have also already passed. Now, the new Open Mainnet launch date speculation is revolving around December 2023 or Pi Day 2024 (March 14, 2024).
Pioneers can also expect to see the monetary value of the Pi cryptocurrency with the commencement of the open Mainnet.
How can you access your Pi Mainnet dashboard? (Migration to Mainnet)
Although the Open Mainnet has not launched yet, if you are a Pioneer and want to get the earliest access to the open Mainnet in the future, you should migrate to the enclosed Mainnet now so as to avoid hassles in the future. To do so, simply complete a few steps and migrate to the Mainnet as described below.
To learn more in detail, please refer to our Pi Network to Mainnet migration guide.
Here are the steps to access your Mainnet dashboard:
Pi mainnet checklist
- Download the Pi Browser App (Pi’s browser is available on the iOS App Store and the Google Play Store)
- Create a Pi Wallet (You will find the wallet option in the Pi browser)
- Confirm your Pi Wallet (Confirm the Pi wallet you created)
- Commit to lockup configuration (Commit a certain amount of your owned Pi coins for a certain period)
- Submit your KYC Application (If you haven’t submitted a KYC application, submit it now. You must have completed your KYC to proceed.)
- Wait for KYC Results
- Migrate to Mainnet (Once all of the above checklist points are green-tick, you can finally migrate to mainnet and load your transferrable balance to it.)
- Invite your teams to complete KYC to transfer more Pi (You can ask your security circle to complete their KYC as well to transfer Pi coins earned due to them. This step is optional.)
Answering FAQs on Pi Mainnet
1) When did Pi Mainnet launch and how it is going?
The Pi Network’s enclosed mainnet launched on December 28, 2021, and the migration to it was started a few months later. Currently, a significant number of users are migrating to the enclosed mainnet in order to receive the earliest mainnet benefits.
Currently, the Pi crypto project is in the third and final phase of its roadmap, and users have already begun transferring their mined Pi coins to the mainnet. However, as mentioned earlier, you must green-tick the checklist points to do so. Notably, KYC can be a major challenge for many Pioneers.
2) What is the Pi Mainnet launch price?
People often search for “Pi Mainnet launch price.” This could mean that they want to know the price of the Pi cryptocurrency when it is launched on the open Mainnet and is listed by crypto exchanges.
Indeed, the Pi mainnet launch price is not yet known as it is not yet listed on crypto exchanges. No dates or prices have been revealed so far regarding the Pi’s launch price. The listing of new cryptocurrencies on crypto exchanges only begins when they are on a public blockchain, that is open Mainnet.
3) Is Pi Mainnet legit?
The legitimacy of the Pi Network mainnet can be assessed by looking at the project’s background, team members, and expertise of the team in blockchain technology.
In all of the said factors, the Pi Network can be considered reliable. The team members, especially, the founders Dr. Nikolas Kokkalis and Dr. Chengdiao Fan, are Stanford graduates and are reputed in the computer science and product management fields, respectively.
Notably, Pi Network officials have consistently warned the community about fraud and fraudulent listings of Pi Network coins. This demonstrates their genuineness.
As per one of Pi Network’s tweets, they are being reported about misleading and unauthorized third-party exchanges. In response, they urged the community not to put their faith in unapproved third-party exchanges. They reminded their followers that the Pi coin should not be traded in the Enclosed mainnet.
Also, the Pi Core Team is constantly working for the growth of the ecosystem by rolling out Pi-powered products such as Fireside Forum and WorkforcePool.
The Pi Network has engaged over 47 million Pioneers around the world who trust this initiative. Thus, all these facts reflect the authenticity and legitimacy of the Pi Network project and consequently the mainnet.
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Disclaimer: This article is based entirely on our personal opinion.
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