Pi Network adds PiBridge utility ahead of official mainnet release

Pi Network is one of the most anticipated blockchain projects in the world. We have taken another big step towards the official launch of our mainnet. The community-driven ecosystem has introduced PiBridge, a new DeFi utility. This will enable users to leverage their Pi holdings for real-world use cases such as peer-to-peer lending and yield generation.

PiBridge extends Pi's real-world utility

The latest updates shared by Pi Network DEX community members have been revealed. Users can now use Pi tokens as collateral to borrow stablecoins and earn passive income. This is an important milestone for the Pi ecosystem. It bridges the gap between mobile mined Pi coins and the broader world of decentralized finance.

The introduction of PiBridge brings much-needed utility to the millions of Pioneers who have been waiting for the network's open mainnet. By enabling P2P lending, Pi Network is demonstrating its intention to provide real value within a decentralized framework. Rather than remaining in a closed experimental economy. The move also reflects growing user demand for on-chain financial tools built around Pi. It already has over 65 million users worldwide.

PiBridge's architecture aims to integrate lending, staking, and liquidity services while remaining in line with the project's mobile-first vision. Supporters believe this addition will help move Pi from an experimental mining network to a functional, self-sustaining blockchain economy.

Mainnet launch at final review stage

According to the same community post, the Pi core team is currently in an “advanced and in-depth review stage.” This indicates that the long-awaited open mainnet may be closer than ever. The team, led by co-founders Dr. Nicholas Kokkaris and Dr. Chendiao Huang, has not yet confirmed an official launch date. However, it assured users that the process is in its final stages.

Community excitement has been building since Pi Network entered the closed mainnet phase in late 2021. Transfers were restricted to ensure a stable and secure migration process. But now, as public availability approaches, more utilities like PiBridge are being introduced to strengthen the ecosystem ahead of the full rollout.

Security Reminders and Transparency Commitment

Alongside PiBridge's announcement, Pi Network's community channels reminded users to protect their passphrases and avoid phishing websites. The core team reiterated that official representatives will never ask for login credentials or KYC information. These reminders highlight the project's continued commitment to transparency. It also protects users during the migration and KYC stages.

According to Pi Network News, more than 3.36 million Pioneers have successfully completed Know Your Customer (KYC) verification. They migrated their Pi balances to mainnet. Indeed, this number highlights the size of the community and the steady progress of the project. Towards onboarding a large user base to live blockchain.

One step closer to the future of Web3

Pi Network's latest developments show clear signs of momentum. Specifically, PiBridge introduced a concrete DeFi use case and millions of users successfully completed KYC. The project is inching closer to realizing its long-promised vision of a user-owned cryptocurrency network that is mobile mined and accessible to everyone. Therefore, as the official announcement of the mainnet approaches. Pioneers around the world are paying attention. The story of the Pi Network, once dismissed as an ambitious experiment. Now, it looks like it's ready to take its place in the next-generation Web3 ecosystem.