The Pi Network has announced the launch of PiFest 2025, an initiative to promote the local commercial and real-world adoption of the PI Coin.
The announcement came on Pi Day, an annual event celebrating the mathematical constant Pi, which is approximately 3.14159.
Pi Network Pushes for Real-World Adoption with PiFest 2025
PiFest 2025 will run from March 14 to March 21. It aims to connect Pi Network users, known as Pioneers, with merchants who accept PI Coin as a payment method. The event celebrates Pi Day 2025 while highlighting the potential of open network connectivity.
"Pi is celebrating the first-ever Open Network PiFest by connecting Pioneers and local merchants! Backed by the full support of open network connectivity, PiFest is focusing on local commercial utility and showcasing Pi's real-world use globally," the official Pi Network announcement stated.
According to CoinMarketCap data, the Pi Network is seeing the highest surge among cryptocurrencies on Pi Day, reflecting the enthusiasm for the project.
PiFest 2025 expands the utility of cryptocurrency by enabling Pioneers to transact with businesses that accept PI. The festival aims to build a robust local economy powered by the Pi Coin, from small businesses to large service providers.
Merchants can register for the event starting March 12, and transactions will officially commence from March 14 to March 21. Despite the enthusiasm for PiFest 2025, legal uncertainties around cryptocurrency trading pose risks for Pioneers in certain jurisdictions.
"If cryptocurrency exchange is illegal in your country, you will not be able to participate in PiFest," Pi News stated.
This statement highlights the legal gray area in which Pi operates. Cryptocurrency regulations vary significantly across countries.
In retrospect, PiFest 2024 was a great success, with over 55,000 merchants from more than 160 countries participating, and nearly 1 million Pioneer buyers engaging in the transactions. This year's event aims to increase Pi adoption globally.
Pi Network Introduces Phone Number Update for KYC Pioneers
Alongside PiFest 2025, the Pi Network has introduced a new feature that allows KYC-verified Pioneers to update their full phone number. Previously, users with incorrect or outdated numbers were unable to modify their information.
The new feature helps Pioneers access their accounts, receive authentication codes, and securely manage their information. However, the Pi Network emphasizes strict account ownership policies, warning that attempts to abuse this feature for account transfers will result in limitations.
"This feature should not be abused for account transfers or sales. Pi has a strict 'one person, one account' policy. Therefore, intentionally transferring a KYC-ed account to someone else will result in the inability to participate in the future Pi ecosystem, as future Pi accounts will not be able to be authenticated," the Pi Network added.
The platform implements biometric authentication and name-matching mechanisms to ensure that only the rightful owner with the right to update the phone number can perform this action.
The new feature comes amid concerns that Pioneers may be unable to access their Pi holdings due to KYC (Know Your Customer) issues. Reports indicate that some users are unable to transfer their Pi Coins to the open network due to authentication problems, raising concerns about the platform's long-term viability.
On the other hand, the Pi Network remains a controversial project, with allegations of being a scam. Industry executives, such as Bybit CEO Ben Zhou and Moonrock Capital CEO Simon Dedic, have made such claims.
According to CoinGecko data, the price of PI Network's PI is currently trading at $1.57, down nearly 9% in the last 24 hours.
