PI (Pi) down 4.40% in the past 24 hours

Gate News Bot Message, December 11th, according to CoinMarketCap data, as of press time, PI (Pi) is priced at $0.21, down 4.40% in the past 24 hours, with a high of $0.23 and a low of $0.20. The current market cap is approximately $1.738 billion, a decrease of $80.0456 million from yesterday.

Pi is the first digital currency that can be mined on a mobile phone, achieving mining without battery consumption through groundbreaking technology. Pi Network features decentralization, mobile-first design, and user-friendliness, providing a secure, tamper-proof, and interoperable digital currency solution. Users can start mining by simply downloading a free mobile app, with no cost involved, only requiring invitations from trusted members within the network.

Recent Important News about PI:

1️⃣ Significant Improvement in KYC Verification Efficiency Accelerates Mainnet Migration Pi Network has integrated AI technology into the standard KYC verification system, using the same underlying technology as the fast-track KYC, reducing the waiting queue for manual verification by 50%. At the same time, a self-serve KYC tool was launched, allowing users who were paused due to incomplete steps or document markings to directly resolve verification issues. These measures have achieved notable results, with 17.5 million pioneer users fully verified through KYC, and 15.7 million successfully migrated to the mainnet. The distribution of verifier rewards is progressing smoothly, with the first distribution expected to be deployed by the end of Q1 2026.

2️⃣ Open Mainnet Launch Approaching Marks a Critical Stage in Network Development Pi Open Mainnet is expected to launch in December 2025, marking an important milestone following Pi Open Network earlier in 2025. The Open Mainnet will enable true full decentralization and unrestricted external connections, allowing developers permissionless access to cross-chain interactions and smart contract deployment. The control by the core team will gradually phase out, with network security maintained by decentralized validators. This phase is anticipated to introduce global liquidity and establish Pi as a fully tradable digital currency.

3️⃣ Ecosystem Application Expansion and Infrastructure Enhancement Support Long-term Value Recognition Pi Network’s ecosystem development continues, with over 100 mainnet-ready applications in development. The Testnet2 upgrade added support for smart contracts, Linux compatibility, and expanded open network tools, enhancing developer capabilities. Meanwhile, PiBridge launched the Pi secured loan feature, allowing users to collateralize their Pi holdings for instant USD loans without selling assets, unlocking liquidity. These initiatives provide practical application scenarios and infrastructure support for the Pi ecosystem, strengthening market recognition of long-term value.

From a fundamental perspective, Pi Network is accelerating through AI-driven KYC upgrades and mainnet migration, addressing long-standing verification bottlenecks. The upcoming launch of the Open Mainnet signifies a transition from a restricted network to true decentralization, which is significant for investor confidence. The expansion of ecosystem applications and financial tools also supports the practical use of Pi tokens.

This message is not investment advice; market volatility risks should be noted.