Because the Pi Community mainnet launched on February 20, it has made headlines for its formidable targets. But, it has additionally confronted substantial criticism. The underwhelming worth efficiency and lack of DApps, amongst different points, have raised questions on Pi Community’s capability to satisfy the expectations of its reported 60 million customers, known as Pioneers.
Beneath are 5 key areas of underperformance that emerged as focal factors for observers in early 2025.
1. Pi Community’s Lack of Binance Itemizing
Pi Community’s group has been vocal in its push for a list on main exchanges like Binance. The truth is, 86% of members voted to listing Pi Coin (PI) in a February group vote.
Regardless of this present of help, Binance has not listed PI. On Might 15, the change posted its emblem on X (previously Twitter) that includes a number of mathematical symbols, together with π. The publish sparked hypothesis amongst Pioneers, however no official itemizing announcement adopted.
The absence of a list has led to renewed scrutiny over Pi Community’s credibility. Notably, Binance applies a rigorous analysis course of earlier than itemizing any asset.
The change considers consumer adoption, enterprise mannequin viability, relevance, tokenomics, technical safety, crew background, and compliance with regulatory requirements. The choice to not listing Pi Coin might point out that the venture has but to satisfy a number of of those vital benchmarks.
“I now higher perceive why Pi just isn’t listed on main exchanges resembling Binance and Coinbase. It’s seemingly that the Pi Core Staff has not been clear sufficient in regards to the locking and burning mechanism involving the billions of Pi cash at the moment owned by the PCT,” Pioneer Dr. Altcoin posted on March 22.
Coinbase, one other high change, has additionally kept away from itemizing Pi. This has additional fueled disappointment amongst Pioneers in regards to the token’s potential for mainstream adoption. Nonetheless, Pi Coin stays obtainable for buying and selling on HTX, Bitget, MEXC, and OKX.
2. Pi Coin Value Fails to Meet Expectations
Pioneers have been actively mining Pi Coin for round six years, anticipating main positive aspects. But, its worth was a serious letdown for a lot of. At launch, Pi Coin was listed on OKX with a flooring worth of simply $2. This was means beneath its IOU buying and selling worth.
The underwhelming debut worsened as PI dipped beneath the $1 mark shortly after itemizing. Though the token rebounded to an all-time excessive of $3 in late February, the rally was short-lived. PI quickly resumed its downtrend, falling beneath $1 once more by late March.
Final week, the extent was briefly reclaimed as help. But as soon as extra, PI failed to carry above it. These declines got here regardless of some bullish catalysts.
The launch of the Pi Ventures Fund was adopted by a pointy worth drop fairly than a restoration. Moreover, Pi Community founder Nicolas Kokkalis made a uncommon public look at Consensus 2025 on Might 16.
Many hoped it will restore investor confidence. As a substitute, the token plunged. BeInCrypto knowledge confirmed that PI dipped 42.6% over the previous week. At press time, Pi Coin’s worth was $0.7, down 3.1% over the previous day.
BeInCrypto reported that allegations of insider promoting and considerations a couple of potential rug pull have additional compounded investor worries.
3. Uncertainty Surrounding the Pi Community Ventures Fund
On Might 14, the Pi core crew launched Pi Community Ventures. The initiative goals to help startups constructing on the community.
Whereas the official announcement outlines a funding pool of as much as $100 million, Pi Community Basis retains full discretion over the deployment of those funds.
“The Pi Basis just isn’t obligated to take a position your complete $100 million, primarily based on the standard of candidates and variety of startups accepted into the initiative,” the weblog learn.
The initiative additionally permits for phased investments over time. Moreover, the Basis can discontinue funding at any stage. This situation has not been properly acquired by some in the neighborhood, who anticipated extra speedy and assured help for ecosystem growth.
“The $100M promise funding will discontinue once in a while in the event that they don’t see any traders coming or having no influence in any respect LOL,” a consumer wrote.
4. Pi Community’s Lacking Decentralized Apps (dApps)
The considerations prolong past the fund’s stability. Dr. Altcoin alleged that the crew is utilizing the fund to construct DApps that ought to have already been accomplished.
He defined that one in all Pi Community’s mainnet launch situations was deploying 100 reside dApps. As of Might 2025, this promise stays unfulfilled, with most dApps nonetheless lacking from the ecosystem.
“After 6 years of ready, why isnt anybody asking the actual query: The place are the 100 Dapps we had been promised?” the analyst said.
The shortfall has left many in the neighborhood questioning the community’s readiness and skill to help a useful ecosystem.
5. Pi Community’s Roadmap Points
One other main concern is the dearth of transparency. Pi Community unveiled a three-phase roadmap for its mainnet migration in April 2025, however the absence of particular timelines has pissed off customers.
A report from BeInCrypto highlighted the group’s backlash, emphasizing that the roadmap didn’t embody estimated dates or an audit course of to handle discrepancies in historic mining knowledge. This has additional deepened mistrust within the venture’s management.
That’s not all. Different points, resembling delays in KYC and challenges in migrating tokens to the Pi Community mainnet, have additionally been prevalent.
Thus, Pi Community’s first three months post-launch have been marked by unmet expectations and rising disillusionment amongst its Pioneers. Because the community navigates these setbacks, its capability to ship on its formidable imaginative and prescient can be vital to restoring confidence within the months forward.
Disclaimer
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