370 Million PI Tokens Flood Exchanges as Pi Network Users Face KYC Delays

Pi Network continues advancing its ecosystem with new tools and migration enhancements, but a significant problem overshadows progress. Over 370 million Pi tokens have hit exchanges—a 52% increase since March—while most users remain locked out due to unresolved KYC and technical issues.

The migration process requires passing identity verification, after which tokens are gradually unlocked based on user activity. Vesting schedules and system errors have left many waiting for months. Meanwhile, exchange deposits indicate that select individuals are selling their holdings before broader access is granted.

Market conditions are becoming increasingly uneven. The 370 million PI tokens on exchanges represent potential sell pressure from privileged early movers, contrasting with retail participants stuck in verification queues. This imbalance raises concerns about fairness in distribution as the network approaches its mainnet transition.