Pi Network listing on Binance has been in waiting for a long time, while the Pi core team has made little effort in making this possible. A Binance listing would offer a major liquidity boost for Pi coin, which is down by a staggering 85% from its peak of $2.85. Pi commuity member explains three key reasons behind the listing delay.
Why Is Pi Coin Unable to Crack Binance Listing?
1. Pi Network Faces Questions on Decentralization
Pi community member Mr. Spock noted that the network governance remains largely with the Pi Core team. Although Pi presents itself as a community-driven project, governance and control remain firmly with the Pi Core Team. Key decisions such as protocol upgrades, migrations, and developer guidelines are still made centrally by the team members.
As a result, the Pi Network hasn’t yet attained true decentralization, while the Pi Core team projects that they have already attained it. Mr. Spock noted that this attitude of the Core team has left the community to address challenges independently. Although some US-based crypto exchanges like Swapfone have listed the Pi token, a lack of decentralization prevents listing on top exchanges like Binance and Coinbase.
2. Failing to Reach the Mainnet Stage
Mr. Spock stated that most of the Pi Network activity still remains on the Testnet rather than the Open Mainnet. Although the project is officially in the Open Network phase, the blockchain remains in transition.
Compounding the issue, only a small fraction of Pioneers running nodes are active on Mainnet. As a result, decentralization remains more of a concept than a reality. Recently, the Pi core team issued an advisory for users to take steps to complete the KYC process and kickstart migration to the mainnet.
3. Real World Utility Is Lacking
Despite claiming migration to the mainnet, the Pi Core team has failed to bring real-world utility to the Pi token. Key aspects of the Pi ecosystem, such as referral rewards, validator earnings, Pi tokens earned from ecosystem contribution, rewards from early participation, etc are missing.
While these rewards are displayed, they have yet to be transferred to user wallets, leaving much of the project’s real-world utility on hold. Although the core team has initiated a few transparency measures like Know-Your Business (KYB) for Pi token distribution, it hasn’t been enough to boost adoption.
Pi Community Members Demands Key Answers
Despite a strong community backup, the Pi core team’s silence on key matters has left the members frustrated. The Pi Core Team (PCT) has called on Pioneers to help address misinformation surrounding the project. However, community members note that much of the confusion originates from the Core Team’s own lack of clear and consistent communication.
For years, the Pi community has worked to defend the project, explain its mission, and manage expectations. Critics argue that prolonged silence from leadership has fueled speculation, fake news, and growing frustration among supporters. In a message on the X platform, Mr. Spock stated:
“The Pi Core Team must embrace its current role as leaders, not just visionaries. They cannot act like Satoshi Nakamoto, who walked away from Bitcoin only after it became fully decentralized”.
Following the bottom at $0.33 earlier this week, the Pi Coin price has bounced back and is trading 7% up today at $0.39. The daily trading volume has also surged to $88 million, with analysts sharing bullish sentiment.
Bhushan Akolkar
Bhushan is a seasoned crypto writer with over eight years of experience spanning more than 10,000 contributions across multiple platforms like CoinGape, CoinSpeaker, Bitcoinist, Crypto News Flash, and others. Being a Fintech enthusiast, he loves reporting across Crypto, Blockchain, DeFi, Global Macros with a keen understanding in financial markets.
He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.
Bhushan has a bachelors degree in electronics engineering, however, his interest in finance and economics drives him to crypto and blockchain.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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