Pi Network Mainnet countdown! 65 million users are rushing to use PiBridge Decentralized Finance new features.

Pi Network has launched a new DeFi tool, PiBridge, enabling users to engage in P2P lending and passive income activities using their Pi holdings. According to the Pi Core team, the Mainnet is currently in the “advanced and meticulous review stage,” with over 3.36 million users completing KYC and migrating their Pi balances to the Mainnet, making the launch of the Mainnet closer than ever.

What is PiBridge? The DeFi breakthrough of Pi Network

(Source: X)

The latest updates shared by Pi Network DEX community members indicate that users can now use their Pi tokens as collateral to borrow stablecoins or earn passive income. This marks an important milestone in the Pi Network ecosystem, bridging the gap between mobile mining of Pi coins and the broader world of Decentralized Finance. The launch of PiBridge brings long-awaited practical features to millions of eager pioneer users awaiting the network's open Mainnet.

By enabling P2P lending, Pi Network demonstrates its commitment to providing real value within a decentralized framework, rather than merely remaining at the level of a closed experimental economy. This move also reflects the growing demand from users for on-chain financial tools built on Pi. For a network with over 65 million users globally, providing practically usable financial services has become the community's most urgent expectation.

PiBridge Core Features:

P2P Lending: Users can use Pi tokens as collateral to borrow stablecoins or other assets for flexible capital utilization.

Passive Income Generation: By staking or providing liquidity, users can earn returns from their Pi holdings.

Cross-chain Bridge: Integrating lending, staking, and liquidity services while maintaining consistency with the project's “mobile-first” vision.

The architecture of PiBridge is designed to uphold the core philosophy of the Pi Network: making cryptocurrency accessible and usable for the average person. Supporters believe that this new feature can help Pi transform from an experimental mining network into a fully functional and self-sustaining blockchain economy. Unlike many DeFi protocols that require complex operations, PiBridge is designed as a mobile-friendly tool, allowing users to manage their DeFi activities directly from their phones.

From a technical perspective, PiBridge represents a key transition for the Pi Network from a closed ecosystem to an open financial system. During the closed Mainnet phase, the circulation of Pi was strictly limited, primarily used for transactions and applications within the ecosystem. The launch of PiBridge signifies that Pi begins to possess true financial instrument properties, capable of participating in the lending market, generating yields, and interacting with other crypto assets. This is a landmark step for the Pi Network towards a mature blockchain economy.

Mainnet launch enters final review stage

According to community posts, the Pi Core team is currently in the “in-depth review phase,” which means that the long-awaited open Mainnet may be closer than ever. The team is led by co-founders Dr. Nicolas Kokkalis and Dr. Chengdiao Fan, and while a formal release date has not been determined, they assure users that the process has entered its final stage.

Since Pi Network entered the closed Mainnet phase at the end of 2021, the community's enthusiasm has been growing day by day. During the Mainnet period, transfers are restricted to ensure the stability and security of the migration process. Although this cautious approach has extended the waiting time, it has also laid the foundation for the long-term stability of the network. Many blockchain projects have encountered technical issues or security vulnerabilities due to a hasty launch, but Pi Network has chosen a gradual strategy that prioritizes user asset security and network stability.

However, with the official launch of the Mainnet approaching, more and more practical tools like PiBridge are being launched one after another to strengthen the Pi Network's ecosystem before the full launch. This strategic feature rollout indicates that the core team is systematically testing and validating various functionalities to ensure a complete and stable user experience when the Mainnet is opened. The launch of PiBridge can be seen as a real-world test of the preparedness for the Mainnet, and its performance will directly impact the final timeline for the Mainnet's launch.

From a timeline perspective, the development history of Pi Network can be divided into three stages: Testnet stage (2019-2021), Closed Mainnet stage (2021 to present), and the upcoming Open Mainnet stage. Each stage has its specific goals, and the current Closed Mainnet stage mainly focuses on KYC verification, balance migration, and ecosystem application development. The launch of PiBridge marks the nearing end of this stage, with preparations for the Open Mainnet being basically ready.

3.36 million users have completed KYC migration with significant results

According to Pi Network News, over 3.36 million pioneers have successfully completed the “Know Your Customer” (KYC) verification and have migrated their Pi balances to the Mainnet. In fact, this figure highlights the scale of the community and the steady progress of the project, moving towards the goal of incorporating its large user base into the Mainnet. Considering that Pi Network has over 65 million users globally, the 3.36 million KYC completions represent an approximate conversion rate of 5.2%.

This conversion rate is actually quite substantial in blockchain projects. The KYC process requires users to submit identification documents and wait for verification, which is a barrier for many users. The figure of 3.36 million means that there are over three million real, verified users ready to actively participate in trading and applications on the open Mainnet. This provides Pi Network with a solid initial user base, far exceeding the number of active users in most emerging blockchain projects.

KYC verification and balance migration are important measures for Pi Network to ensure network security and compliance. By verifying user identities, the network can prevent multi-account cheating, bot attacks, and other malicious activities. Although this strict verification mechanism slows down user growth, it ensures that each participant is a real individual, which is crucial for building a healthy cryptocurrency economy.

The balance migration process has also been carefully designed. The Pi mined during the testnet phase needs to be verified before it can be migrated to the Mainnet. This process takes into account multiple factors, including account activity, security circle contributions, and application usage. This mechanism rewards users who actively participate in ecological construction, rather than just passive miners. As more users complete KYC and migration, the Pi Network's Mainnet will have an increasing number of active participants and circulating tokens.

Security Reminder and Transparency Commitment

At the same time as the release of PiBridge, the Pi Network community channels also remind users to protect their passwords and avoid phishing websites. The core team reiterated that no official representatives will ask for login credentials or KYC information. These reminders highlight the project's ongoing efforts to maintain transparency and ensure user safety during the migration and KYC phases.

As the value expectations of Pi Network rise, scams and phishing attacks have also increased. Fake Pi Network websites, fraudulent airdrop activities, and scammers claiming they can expedite KYC verification are rampant. The core team regularly issues security alerts, educating users on how to identify official channels and protect their account security. Users should remember: Pi Network will never ask for private keys or passwords, and all official communications are conducted through in-app notifications or the official website.

Transparency is the cornerstone of building community trust in the Pi Network. Despite multiple adjustments to the Mainnet launch schedule, the core team has consistently maintained communication with the community, explaining the reasons for the delays and the current progress. This open attitude has helped sustain the cohesion of the community, even during the long waiting period without significant user attrition.

A Key Step Towards the Future of Web3

The latest developments of Pi Network demonstrate strong growth momentum. Specifically, PiBridge has introduced tangible DeFi use cases, and millions of users have successfully passed KYC authentication. The project is gradually realizing its long-term promised vision: a cryptocurrency network that is accessible to everyone, with mobile mining and user ownership. Therefore, as the official release date of the Mainnet approaches, global pioneers are closely monitoring the developments of Pi Network.

The story of Pi Network was once seen as an ambitious experiment, but now it seems ready to take its place in the next generation Web3 ecosystem. From a mobile mining application to a blockchain network with 65 million users, 3.36 million KYC-verified users, and a complete suite of DeFi tools, Pi Network has proven the feasibility of its vision.