The Open Mainnet stage will allow Pi users to exchange their Pi coins with other cryptocurrencies and fiat currencies. Furthermore, it opens the door for developers to innovate, creating utilities and applications atop the network’s robust framework.
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Despite the excitement surrounding this announcement, the Pi Network team is proceeding with caution. They claimed that a hasty transition could undermine the community’s achievements to date.
In light of this, they have determined three conditions that must be met to ensure the Pi coin launch date. Here are the three prerequisites that should be met before the transition happens:
Comprehensive Preparations: The team underscored the need to complete all crucial technological, product, business, and legal preparations. While the technical roadmap is largely in place, efforts are ongoing to enhance network security, stability, and scalability.
Decentralization Milestones: A central goal is the acquisition of 15 million KYC-verified users and the migration of over 10 million Pioneers to the Mainnet blockchain. Additionally, the development of at least 100 high-quality, diverse utilities and applications is critical for establishing Pi’s viability as a currency.
Optimal External Conditions: As a global cryptocurrency initiative, Pi’s success is intertwined with the broader world context. Therefore, the team said factors such as geopolitical stability, regulatory developments, industry trends, and the absence of global crises are pivotal in determining the timing of the Pi mainnet launch date.