The Pi network was created by a group of aspiring Stanford PhDs as an answer to the massive environmental impact which is caused by the majority of cryptocurrencies.
Proof-of-Work consensus algorithm which is used by Bitcoin and a plethora of other altcoins, consumes way too much energy in order to keep everything running.
On the contrary with other cryptos, Pi network offers an interesting alternative to reduce power consumption which is mining Pi coins by mobile phones.
The Pi crypto has set very high crypto standards while the cryptocurrency is still not used in crypto exchanges.
So let’s take a step further and answer the crucial question, is Pi coin listed?
No, at this time Pi coin is not listed by any crypto exchange platform.
This is a choice made by the Pi founders who decide to keep the network in an Enclosed Mainnet period before transit to Open Mainnet.
Regardless of the fact that Pi’s current status is live, is impossible to be exchanged for:
- Fiat money
- Other crypto coins
- The future promise of cryptos or fiat money
Learn more about what Pi cryptocurrency is, or if Pi crypto is a scam.
Pi Enclosed Mainnet – What is it?
Started in December of 2021, Pi network has been in the Enclosed Mainnet meaning that the blockchain network is live but uses a firewall to prevent external connectivity.
This is an intermediate period for the Pi network in which Pi users and holders are able to use their coins only inside the Pi blockchain.
Connectivity between the Pi blockchain and other blockchains or any other kind of third parties is technically impossible.
According to the Pi’s updated white paper which was published in the same day that the Pi Mainnet blockchain went live, there are three basic restrictions:
Pi coins cannot be exchanged for:
- Fiat currencies
- Other cryptocurrencies
- Future promises for fiat money or any other crypto coin
The current Enclosed Mainnet period is considered to be the forerunner of the final stage called Open Mainnet in which the firewall will be removed and every external connectivity will be allowed.
The decision for the Pi blockchain to be inside the Enclosed Mainnet period came from Pi’s founders and below we will discuss why they decided not to list it yet.
Why does Pi choose to not be listed yet?
A lot of crypto enthusiasts and investors have used blockchain projects to launch within a very short time frame.
However, those short time frames are actually not enough time to create a remarkable and substantial crypto environment.
As a result, many crypto projects end up having great problems and a lot of them finally fail to rise to the occasion.
The Pi network creators have decided to use this Enclosed Mainnet period in order to help Pi concentrate on creating an independent environment without being influenced by external factors.
Additionally, two practical benefits of the Enclosed Mainnet are the following:
- It gives time to the Pi network to verify the millions of Pioneers’ identities using a scalable KYC, and then their mobile mining balances will be migrated to the Pi Mainnet.
- The Enclosed period will help in the creation of real utilities for Pi crypto. Examples of these utilities are an ecosystem infrastructure but also platforms that facilitate utility building by both the community and the external world.
Finally, after the completion of this strategic stage the network will proceed to the launch of the finalized form which is the Open Network stage.
Although it was made clear from the official Pi Network page that the Pi coin is not listed yet, you can find a price for the Pi coin in different crypto exchange platforms.
If Pi is not listed, why can I see its value in crypto platforms?
Lately, there have been a lot of popular crypto exchange platforms like Binance or Crypto.com showing the price of Pi token.
As a result, a lot of individuals will see it and believe that the Pi network launched the so-called Open Network stage.
Of course this is not true and it is confirmed by the Pi’s founders who declare that there is no price in Pi coin yet and is not allowed to be exchanged for other assets.
But since Pi token is still priceless what is the value that those crypto exchanges are showing?
Is the price that reflects the value of the IOUs.
The acronym IOU stands for “I owe you” and is an unofficial document that recognises that one party owes a debt to another.
This debt often involves fiat money or crypto assets.
For that reason, individuals can see an estimated value for a PI coin and buy it.
But they cannot transfer it across other exchange platforms since it is forbidden by the Pi Network.
Is Pi coin listed? Final Thoughts
Pi crypto is an innovative idea that has attracted millions of crypto enthusiasts until now. However, the coin is still in the stage that has not yet been listed since the founders decided to put a firewall to prevent external connectivity. This decision has been taken for several technical reasons. Many popular crypto exchanges however, show the value of the IOUs as the Pi coin value. Finally, this is only a temporary situation, since the launching of the Open Mainnet stage is coming soon.
