Pi Network Faces Backlash Over Token Lockup

The latest voluntary token lockup call by Pi Network has sparked criticism within their community. The August 2nd announcement encouraged Pioneers to lock up their Pi coins to receive higher mining rates. This triggered intense reactions on social media, especially on X (formerly Twitter).

Pi Network Token Lockup

The lockup feature allows users to lock PI before or after moving to Mainnet.

According to the latest blog, locking after moving to Pi Wallet provides up to 200% mining increase and applies directly to Pi already on the chain.

Meanwhile, locking before moving, configured through the main Pi app, affects future transferable balance and reward forecasts.

Once confirmed, all lockups are binding for the chosen period and cannot be reversed.

Pi Community Disappointment Erupts

The timing of the announcement angered many in the Pi Network community.

Users pointed out the token price drop, delays in KYC verification, and sluggish migration process as reasons for declining project trust.

Many commented that locking more Pi now – without clear utility or liquidation – feels premature and even exploitative.

Others expressed disappointment with the slow deployment of promised ecosystem features. Tools like Pi Domains and App Studio remain incomplete or non-functional, despite previous previews.

This lack of commitment has heightened concerns that the project is stagnating while still demanding deeper user engagement.

Complaints about migration queues remain widespread. Some Pioneers report waiting over a year despite completing all KYC steps, with most of their balance stuck in unverified status.

For these users, the Pi lockup option feels irrelevant when they cannot access their funds.

Some users also criticized the Core Team's silence on roadmap updates and unresolved issues, calling for greater transparency and accountability before requesting further user participation.

Meanwhile, many users remain dissatisfied that Pi Network has not been more widely listed, especially on Binance. However, BeInCrypto recently hosted a podcast about why Binance listing could worsen market conditions for PI.

Price Drop and Ecosystem Pressure

The intense reaction occurred during a disastrous phase for Pi coin price. The token dropped an additional 11% on Saturday, touching its All-Time-Low.

Overall, Pi coin has dropped nearly 90% from its February high.

Adding pressure, August marks the release of 160 million unlocked tokens, the largest monthly unlock in Pi Network history. The additional supply is likely to weigh heavily on the already fragile capital market.

Earlier this week, Pi Network also implemented its lowest mining rate to date.

This move is part of a deflationary release model aimed at controlling inflation and encouraging long-term participation through token lockup.