OKX has officially announced the addition of PI, the native token of Pi Network to its spot trading markets.
According to the crypto exchange, deposits for PI will open on February 12 at 2:45 UTC, with spot trading launching on February 20 at 8:00 UTC. Withdrawals will be enabled on February 21 at 8:00 UTC.
This listing comes as Pi Network prepares to launch its mainnet on February 20, 2025, marking the beginning of its “Open Network” period. According to an official statement from the project’s team, this transition is a critical step in building a fully functional, decentralized peer-to-peer ecosystem powered by PI.
Pi Network, known for its mobile-based mining model, allows users to mine tokens without high energy consumption. The platform has gained widespread adoption due to its low-barrier entry, using a referral-based growth model to expand its user base.
However, the OKX listing has sparked debate within the crypto community. Some users on X (formerly Twitter) have raised concerns about Pi Network’s decentralization and growth structure. A user, @Asenup4, questioned OKX’s decision, suggesting that listing PI could indicate a shift toward a more centralized model for Pi Network. They also noted that the project’s referral-based mining system bears similarities to a pyramid scheme.
Notably, the Pi Network team reiterated their commitment to security and compliance in their recent statement. They claimed that their aim is to create a secure Web3 environment where Pioneers (a colloquial name for the project’s community members) can engage externally with the Pi they hold.
The project requires users to complete Know Your Customer (KYC) verification before participating in mainnet activities, while businesses must undergo Know Your Business (KYB) verification to operate within the ecosystem.
Meanwhile, OKX Australia has launched two automated trading bots, Spot Grid Bot and DCA Martingale, aimed at enhancing crypto trading efficiency. These tools enable 24/7 trading, with Spot Grid Bot executing trades within a price range, while DCA Martingale Bot reduces the average purchase cost by buying more during price dips.
The exchage claimed that these bots would cater to the growing demand for automated trading solutions from Australia’s crypto user base which is projected to reach 11.8 million by 2025.
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