Ahead of the Feb. 20 Mainnet launch, OKX confirms the PI coin will use an isolated listing mode, potentially restricting access in certain regions, including mainland China.
As the highly anticipated Mainnet launch on February 20 approaches, OKX—the crypto exchange planning to list the PI coin—has announced that the project will adopt an isolated listing mode. This decision, which was driven by requirements set by Pi Network itself, may lead to access restrictions for users in some regions.
OKX’s Isolated Listing Mode for PI Coin: What You Need to Know
OKX Confirms Pi Network Restrictions
OKX clarified that it is not entirely behind this move—the requirements were set by Pi Network. Although the exchange has not specified all the restricted countries, it expects that mainland China will be among those affected. As a result, users in these regions might be unable to trade or deposit the PI coin, creating uncertainty and frustration among miners who have long awaited liquidity for their holdings.
Community Reactions and Concerns
Growing Skepticism Among Pi Network Miners
Many community members argue that these access restrictions contradict Pi Network’s initial promise of inclusivity. Critics have already labeled the isolated listing mode as a red flag. For instance, a user on X (formerly Twitter), known as “FOMO HUNTER,” warned:
“Isolated listing mode is a red flag for liquidity and access. Always question the impact on trading volume and market dynamics. Strategy over speculation.”
Allegations and Criticism
Some in the community have gone as far as calling the PI coin a scam due to the project’s prolonged delays and a lack of transparent communication. Concerns have also been raised about the Know-Your-Customer (KYC) process, further fueling skepticism. Notably, even the CEO of ByBit dismissed calls for listing the PI coin, describing it as “the last thing he wants to deal with.”
Market Impact and Price Fluctuations
In response to these developments, the PI [IOU] price has experienced notable volatility. Earlier in the week, when the project revealed plans to launch the Open Network, the price rallied above $93. However, it has since plunged by double digits, with current trades around $61.28. Moreover, Pi Network has yet to publicly address OKX’s claim that the listing directive came directly from the project.
Looking Ahead
The move to adopt an isolated listing mode only adds to the controversy surrounding the PI coin’s upcoming Mainnet launch. As regulators and crypto enthusiasts continue to scrutinize the project, the industry is watching closely to see how this strategy will affect trading volume, liquidity, and overall market dynamics.
FAQs
Q1: What is the isolated listing mode?
A1: The isolated listing mode means that the PI coin will be listed with specific restrictions, limiting trading and deposit access in certain regions as determined by Pi Network.
Q2: Which countries might face access restrictions?
A2: Although not all restricted regions have been disclosed, mainland China is expected to be among those affected.
Q3: Why is the community concerned about these restrictions?
A3: Critics argue that these limitations contradict Pi Network’s promise of inclusivity and may hinder liquidity, leading some to label the project as potentially untrustworthy.
Q4: How has the market reacted to these developments?
A4: The PI [IOU] price initially surged following news of the Open Network launch but has since dropped significantly, reflecting investor uncertainty.
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