A recent poll by a Pi Network community account on X asked, “Do you Want to see $Pi Listed on Binance?” The majority of users said no to the idea. Many of them say the network isn’t ready for a listing and that some serious problems need to be fixed first.
Why are Pi Network Users Refusing Binance Listing?
Users say one of the biggest issues that has to be solved before the Binance listing is the KYC process. KYC, or “Know Your Customer,” is needed to verify users’ identities and unlock their tokens. But the system is broken. Some users said they’ve been waiting for years, but still haven’t passed KYC even though they completed the steps. One user said, “Not until my KYC gets approved, still waiting…4 months and counting.”
The issue comes from a bug in the system where even if a person completes KYC, their Pi stays locked if others in their “security circle” don’t pass too. This system needs multiple people to approve a KYC request. However, not enough users are joining the Pi Validation Program, so the process gets stuck.
Some people even think Pi Network might be doing this on purpose to keep tokens locked. One user said they got muted by moderators after questioning the delay. Other users are also upset that their tokens were locked without warning or lost because they missed a deadline. One early user said he lost 2,500 PI.
There are also concerns about the wallet. Some users said that the wallet system needs an upgrade. They have reported that their Pi coin balances are not loading after the mainnet migration.
The Pi Network team gave users until March 14, 2025, to finish KYC and move their tokens to mainnet. If not, they lose access to their Pi. The price of Pi has dropped over 10% in the last week and now trades at $0.6526, according to CoinMarketCap.
On the other hand, other users who are done with their KYC are furious that new coins like Bondex are getting listed on Binance but Pi coin is still not considered.
Also Read: Pi Network Users Complain on Migration Issues: KYC, 2FA, Balances
