Pi Network's Open Network Launch: Nicolas Kokkalis Team Takes Ecosystem into New Era

One of the most important developments of the past year is the official launch of the Pi Network Mainnet. Led by Nicolas Kokkalis and Chengdiao Fan, the team celebrated this milestone, which marks a new era for the crypto community, and complemented it with several critical ecosystem updates. Market sentiment is clearly positive: PI has shown a steady upward trend in recent months, and community expectations have reached a new level.

Ecosystem Milestone: Protocol Updates and Mainnet Activation

In early 2025, Pi Network officially launched the Mainnet, paving the way for PI to be publicly listed and traded on exchange platforms. This historic step signifies the project’s transition from the founding phase to operational maturity. Simultaneously, significant progress was made in protocol software: version 19.6 was completed, and v19.9 became the final step before the anticipated v20.

Pi Network management issued an urgent message to node operators running older versions—updating without delay is necessary. Following this, the team introduced the long-awaited Ecosystem Token Design. This framework aims to ensure that new tokens issued on the Mainnet are linked to real use cases rather than speculative trading. The management has asked the Pioneer community to review the design and provide feedback before final implementation.

During this period, Nicolas Kokkalis and Chengdiao Fan participated in various interviews, addressing questions about the controversial KYC process, their entry into the AI sector, and other topics of interest. The team’s transparency and communication efforts have increased investor confidence.

Market Sentiment Reverses: PI Rises on the Red List

The developments within the Pi Network ecosystem have generated strong market reactions. As of March 2, PI ranked as the second most bullish/positive sentiment asset in the crypto market—only behind Kaspa (KAS), while established altcoins like Ripple (XRP), Cardano (ADA), and Ethereum (ETH) ranked lower. PI closed the previous month at around $0.17, reflecting approximately a 10% monthly increase.

Some industry analysts have suggested that PI could reach $50 in the short term, but these predictions are highly speculative. For example, some users on the X platform, like Mr. Brondor, questioned why an asset with no fundamental use case could have such a strong bullish trend, highlighting the paradox in the market.

Massive Token Unlock Wave: Price Pressure Risks

Nevertheless, serious risk factors loom on the horizon. Data sources indicate that token unlocks will be very intense in the coming weeks. On the highest unlock day, March 7, approximately 21 million tokens are planned to be released. Theoretically, this does not necessarily mean a price drop, but it could trigger many long-standing token holders to sell their holdings.

Another concerning indicator is that the amount of PI stored on centralized exchanges is gradually approaching around 435 million tokens. This trend suggests increasing sell pressure as exchange supply grows, which is viewed as a bearish signal from a technical analysis perspective.

Ultimately, while the Pi Network team led by Nicolas Kokkalis has taken significant steps to advance the ecosystem, market dynamics are more complex. Developments in network management and enterprise applications offer hope, but token dynamics and unlock plans could influence price volatility in the near term. Community members and investors must closely monitor this balance of forces.