Pi Network's Rocky Road to Reality: February 2025 Launch Finally Happened

After years of promises and endless delays, Pi Network finally crawled across the finish line on February 20, 2025. I've been following this project since its early days, and let me tell you - it's been a rollercoaster of emotions watching this so-called "revolution" unfold.

When the Open Network finally launched, I couldn't help but laugh at the price action. Opening at $1.47, shooting up to $2.10, then crashing back to $1.01 all in one day? Talk about amateur hour! This is exactly what happens when millions of users who've been mining "free money" for years suddenly get the chance to cash out.

From my perspective as an early miner, the whole KYC verification process was a nightmare. They kept us waiting for years, dangling the carrot of "real value" while collecting our data. And for what? So we could finally dump our tokens on some third-tier exchanges?

The whole "enclosed mainnet" phase from December 2021 to February 2025 felt like an eternity. Three years of being trapped in a walled garden while the team kept moving goalposts and making excuses. Meanwhile, actual innovative crypto projects were building real products and gaining adoption.

Let's be honest about the numbers too. Sure, they boast about 10.14 million "migrated Pioneers" and 19 million KYC verifications, but how many of those people are still actively engaged? Most people I know who mined Pi gave up waiting years ago.

And don't get me started on those ridiculous trading volumes - 1,700% increase on launch day? Of course! Everyone was rushing to dump their bags before the price completely collapsed. The whales made out well while average users were left holding worthless tokens.

The 100 billion maximum supply is another red flag. With only 9.7 billion currently circulating, we're looking at massive inflation for years to come. Any price stability is temporary at best.

I used to believe in the vision of an accessible cryptocurrency for everyone. But after watching this project drag on for over six years, I'm convinced it was just clever marketing to build a massive user base with minimal actual innovation.

The February 2025 launch wasn't the beginning of something great - it was the beginning of the end for a project that took too long to deliver on its promises in a rapidly evolving market. Those exchanges that rushed to list Pi tokens might soon regret it when trading volumes dry up and users move on to the next shiny crypto project.