Pi Network Responds to Unauthorized Token Listings

by BSC News

January 6, 2023

Pi Network clarifies unauthorized token listings, including details of its enclosed mainnet.

Pi Network Disapproves Exchange Listings

Pi Network has objected to all unauthorized token listings on certain exchanges. The world’s largest blockchain-based community with over 35 million users clarifies that Pi Network is not associated with any exchange.

According to an exclusive statement delivered to BSC News, the Pi Core team disclosed that Pi Network has no involvement with these $PI token listings on exchanges. The team added that the PI tokens traded are fake.

“Pi Network has no association with any of these exchanges, which are acting without the consent, authority, or involvement of the network. Further, the products being traded on these exchanges are not the real Pi tokens,” the team wrote.

Following reports of unauthorized token listings last week, Pi Network published a public announcement via Twitter, advising users to disregard them. Further, the network requested that the exchanges remove them.

Pi has not been listed on any exchange, and Pi Network has not been involved with any purported listings. You could sustain substantial loss by participating in unauthorized listings. Read more on our website: https://t.co/rbntZ7DROj pic.twitter.com/LJztPOH35c
— Pi Network (@PiCoreTeam) December 30, 2022

Pi Network’s Enclosed Mainnet

Pi Network is still in its enclosed mainnet, a build-up to the Open Mainnet launch. Throughout the enclosed mainnet period, the Pi mainnet is live but has a firewall that prevents unwanted external activity. This firewall is a barrier, ensuring no connectivity between Pi and other exchanges or blockchains.

Pi’s enclosed mainnet design means that $PI listing on any exchange is impossible. The listing violates the network’s policies and is a false native Pi token, representing some form of IOU or other derivatives.

Pi Network is in a crucial stage in its enclosed mainnet development, focusing on two key priorities: mass KYC/mainnet migration and ecosystem building. The firewall will remain active until Pi launches the Open Mainnet after completing the crucial steps in its enclosed mainnet.

What is Pi Network:

Pi Network is a novel cryptocurrency and developer platform that allows mobile users to mine Pi coins without draining the device’s battery. Pi’s blockchain secures economic transactions via a mobile meritocracy system and a complete Web 3.0 experience where community developers can build decentralized applications (dApps) for millions of users.