370M Pi Tokens on Exchanges: A Tale of Two Worlds 🤔

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Oh, the joys of Pi Network! The team is busily crafting new tools, refining migration processes, and trumpeting the progress of their ecosystem. Yet, beneath the surface, a rather unsavory issue is bubbling up. Over 370 million Pi tokens are now nestled comfortably on exchanges, while the majority of users are still locked out of their own hard-earned tokens. How delightful! 🎉

Now, one might wonder, if the majority of users are still awaiting technical fixes and KYC approvals, who on earth is trading these tokens? 🤷‍♂️

Why Pi’s Token Access Feels Rigged

To move Pi tokens to the mainnet, users must first pass the dreaded KYC. Then, they can begin the migration process, but even then, only a fraction of their Pi is unlocked. The rest remains locked under a vesting schedule, dependent on their level of activity. How thrilling! 🎉

For many, the process has been a veritable nightmare. Technical issues like 2FA errors and missing balances have only added to the frustration. Some users have been languishing in the queue for months. What a treat! 🎉

Meanwhile, exchange balances have soared from 244 million in March to over 370 million in July. That’s right, more tokens are flooding the public markets, even as regular users remain locked out. How considerate of them! 🎉

$PI new ATH. .
The selling pressure continues to increase.
370million $PI in exchanges. .
An increase of 8 Million $PI in 2 days.
The selling pressure is mainly from increasing deposits.#PiNetwork

— MOON JEFF (@CRYPTOAD00) July 6, 2025

This has created what many are calling a two-tiered system:

  • One group can trade freely, living the high life.
  • Most users are still waiting to access the Pi they mined, twiddling their thumbs.

The lack of clarity on the source of these exchange-held tokens has raised eyebrows and questions about transparency and control. How very mysterious! 🕵️‍♂️

Ecosystem Progress Continues But Access Still Lags

Pi Network recently celebrated its Pi2Day event, touting key updates:

  • The launch of Pi App Studio, allowing users to build AI apps without code. How revolutionary! 🚀
  • A new staking feature that lets users support Pi apps they find useful. How generous! 🎁
  • Backend upgrades that helped over 500,000 users migrate to the mainnet. How efficient! 🏃‍♂️
  • A fiat on-ramp to make it easier to buy Pi and expanded .pi domain sales. How convenient! 🛍️

These updates certainly show that Pi is moving forward. But while developers build and apps launch, most users still can’t use their tokens outside Pi’s ecosystem. How frustrating! 😩

Trust Issues Are Now Front and Center

Pi Network claims to be building a fair, open ecosystem. But with over 5.1 billion Pi still locked, and a growing number of tokens moving onto exchanges, users are beginning to ask: Is this really as decentralized as promised? 🤔

As exchange reserves rise and access remains limited, frustration in the community is mounting. The network’s next big test will be to restore trust and give users access to what they’ve already earned. Let’s see how this unfolds. 🎲

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2025-07-10 15:16