Key Developments
- HTX delists PI IOU, converting holdings to USDT at 1 PI = 61.28 USDT ahead of Pi Network’s mainnet launch.
- Pi Network’s mainnet goes live on February 20, 2025, transitioning to an Open Network phase.
- OKX and Bitget confirm future PI spot trading, boosting market speculation.
HTX’s PI IOU Delisting Process
HTX halted trading for the PI/USDT pair on February 13, 2025, converting PI IOUs to USDT at a fixed rate (1 PI = 61.28 USDT). Users’ funds will be credited to Spot accounts, with canceled open orders processed automatically.
👉 Why exchanges like HTX are streamlining token transitions
Rationale Behind the Move
- IOU tokens served as placeholders during Pi Network’s testnet phase.
- With the mainnet launch imminent, HTX deemed IOUs obsolete, opting for direct USDT conversion.
- The exchange plans to relist the native PI token post-mainnet launch.
Pi Network Mainnet: What to Expect
Pi Network’s Open Network phase begins on February 20, 2025, following:
- 10.14 million migrations (surpassing the 10M target).
- Ecosystem upgrades enabling real-world PI utility.
Market Sentiment
Despite progress, skepticism persists:
- Bybit’s CEO publicly dismissed PI as “ridiculous.”
- Low trading volumes (-26% in 24hrs) reflect cautious investor behavior.
Exchange Support for PI
OKX and Bitget announced future PI spot trading, potentially enhancing liquidity. Current PI IOU price: $61.29 (+2% in 24hrs).
👉 How top exchanges evaluate new token listings
FAQs
1. Why did HTX delist PI IOU?
HTX transitioned users to USDT ahead of Pi Network’s mainnet to avoid redundancy with the native token.
2. Will PI be relisted?
Yes—HTX confirmed plans to support the mainnet PI token post-launch.
3. What’s Pi Network’s mainnet timeline?
The Open Network phase starts February 20, 2025, at 08:00 UTC.
4. Which exchanges will list PI?
OKX and Bitget have committed to PI spot trading post-mainnet.
Final Thoughts
The delisting underscores HTX’s compliance with mainnet transitions, while exchanges like OKX bet on PI’s long-term viability. Investors should monitor post-launch token performance and ecosystem adoption.
For real-time updates on token migrations, visit our recommended resources.