Pi Network Launches Open Mainnet and Hackathon Events

TLDR

• Pi Network’s Open Mainnet launched in 2025, engaging millions.
• Over 9 million wallets have migrated since February 2025.
• Whales hold 4.5% of Pi’s circulating supply amid market changes.

Pi Network has launched its Open Mainnet in 2025, driving significant engagement within the Pi community. As of August 18, key figures Nicolas Kokkalis and Chengdiao Fan have not issued direct statements, leaving official moderators and community channels as the primary sources for updates.

The new mainnet developments have fueled debates about a potential second migration aimed at unlocking additional rewards. The community is actively discussing migration details, and on-chain data suggests a significant impact on Pi tokens, with over 9 million wallets migrating since February.

Observers Discuss Potential Second Migration

A major topic of interest is the possibility of a second migration. Official moderators hinted this might occur, sparking speculation within the Pi community. Such a migration could increase liquidity and unlock further rewards. However, the potential sell pressure from additional unlocked tokens is a community concern.

“I do think it can,” an official moderator responded regarding the likelihood of a second migration in 2025.

Pi Network Moderator, Official Community

Many in the community are awaiting further clarification and decisions from the core team. Discussions continue on platforms such as the official Pi app and social media, where community sentiment remains cautiously optimistic despite some expressed frustrations about delayed KYC and migration specifics.

Pi Network’s Hackathon and Increased Development

The Pi Hackathon 2025, announced by the core team, has set a 160,000 Pi prize pool to promote real-world decentralized app (dApp) development on the mainnet. This initiative aims to enhance the platform’s ecosystem with new applications showing significant interest from developers.

Official statements have pointed to the hackathon as a critical step for expanding the Pi Network’s application range. Increased GitHub activity suggests a shift of focus toward developing new dApps, even as the mainnet remains closed-source for consensus specifics.

Whale Activity and Exchange Reserve Insights

Recent data indicates whales now hold 4.5% of Pi’s circulating supply, with exchange reserves down 20%. This trend reflects a cautious market optimism among investors who see tightening liquidity as a potential sign for price increases, alongside concerns about potential sell-offs during migration events.

Such cautious optimism aligns with the current Pi trading range, showing a recovery to above $0.40 after falling back earlier in the year. The price remains volatile, sensitive to news surrounding migration events and further developments in the network.

Community Reactions Mixed Amid Market Uncertainty

Community sentiment around the Pi Network is mixed, with many Pioneers expressing frustration over delays in KYC processes and concerns regarding the hackathon’s effectiveness. Still, there’s optimism about future developments.

Official channels on Twitter continue to serve as a discussion hub for users hoping for positive steps forward. Yet, the lack of major exchange listings and questions on token unlocks still weigh on the ecosystem’s growth outlook.