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The Pi Network has undergone a massive shift recently. After years of anticipation, the project officially moved from its "Enclosed" phase to an Open Mainnet on February 20, 2025. As of February 2026, here is the current state of the network, its value, and the key developments you should know: 1. Market Status and Price For the first time in the project's history, Pi is now a tradeable asset on external exchanges. However, the initial "hype" price has seen a significant correction. * Current Price: Approximately $0.17 USD. * Historical Context: Upon the Open Mainnet launch in early 2025, PI saw a peak near $3.00, but it has since faced heavy selling pressure as millions of "Pioneers" finally gained the ability to sell their mined coins. * Available Exchanges: You can now find PI listed on platforms like OKX, Bitget, MEXC, and HTX. * Note: Major tier-1 exchanges like Binance and Coinbase have not yet officially listed the token. 2. Network & Technical Milestones The "Core Team" is currently focused on infrastructure stability and scaling the ecosystem. * Protocol Upgrades: The network is currently transitioning from Stellar Protocol v19 to v23. This is a mandatory upgrade for node operators (deadline March 1, 2026) intended to support smart contracts and faster transaction settlements. * Migration Stats: Over 16 million users have successfully migrated their mobile-mined balances to the Mainnet. * KYC Progress: Approximately 17.7 million users have passed KYC (Know Your Customer) verification. The team recently introduced "Palm-print authentication" to help unblock users stuck in the verification queue. 3. Is it "Legit" or a Scam? In 2026, the conversation has moved away from "is it a scam" to "is it a good investment." | Aspect | Status in 2026 | |---|---| | Legitimacy | Legit. It has a functional blockchain, a real supply, and is tradeable for fiat currency. | | Centralization | High. Critics point out that the Pi Core Team still maintains significant con