Pi Network Strengthens Trust with Founder Confirmation and DEX Shift

TLDR

Table of Contents

Pi Network’s founder confirms official involvement, dispelling rumors of side projects.
Pi Wallet’s DEX update signals a shift from test swaps to real trading execution.
Pi Network increases the base mining rate by 13.59% as KYC and participation grow.
Pi’s shift toward verified users and controlled rewards indicates a more structured economy.

In a recent update, Pi Network addressed two key developments aimed at reinforcing its credibility and preparing for a more structured open economy. Founder Nicolas Kokkalis issued a statement affirming his exclusive involvement with Pi Network, while the platform’s decentralized exchange (DEX) interface saw significant changes that suggest a move closer to real trading capabilities. These developments indicate Pi Network’s commitment to enhancing user trust and refining its ecosystem as it moves closer to the next stage in its roadmap.

Founder’s Statement Clears Up Misunderstandings

Nicolas Kokkalis took to social media this week to clarify his role within Pi Network. The statement, widely shared in the Pi community, reaffirmed that Kokkalis operates only one official Pi Network account.

He emphasized that he has no involvement in any side crypto projects, token promotions, or advisory roles outside of Pi Network. Additionally, he mentioned that he teaches one class annually at Stanford, underscoring his focus on Pi Network’s development. This statement is intended to clear up any confusion caused by persistent rumors connecting Kokkalis to unrelated crypto ventures.

For Pi Network’s community of Pioneers, this clarification brings much-needed reassurance. As the project has grown into a global community, misinformation has often surfaced, leading to uncertainty. By directly addressing these concerns, Pi Network aims to strengthen trust within its user base and clarify its founder’s commitment to the project. This move is particularly important as the network enters a critical phase of its evolution toward an open economy.

DEX Interface Update Signals Transition to Real Trading

In parallel with the founder’s statement, Pi Network made noticeable changes to its DEX interface, marking a shift from test interactions to real trading mechanics. The updated Pi Wallet now mirrors the behavior of standard decentralized exchanges. It features a clear Sell-to-Buy flow, slippage, and transaction fees. Additionally, the platform now incorporates automated market maker (AMM) logic, a standard in decentralized finance (DeFi).

This update signals that Pi Network is moving beyond its testing phase and is preparing for full DEX execution. Users will now experience a trading flow that closely resembles that of established decentralized exchanges, a crucial step toward the network’s goal of enabling actual trading. While Pi has not officially confirmed a timeline for full DEX functionality, the update’s technical nature suggests that the transition is progressing, with liquidity pools and mainnet connection as the likely next steps.

Strongest Mining Rate Increase in Two Years

Alongside the DEX update, Pi Network also made a significant adjustment to its mining structure. The base mining rate increased by 13.59%, marking the largest rise in nearly two years. This increase is directly tied to Pi Network’s shift towards a more structured, open economy model. Unlike previous, more experimental phases, the new mining adjustments reflect changes in the weight of contributions, security checks, and the expansion of Know Your Customer (KYC) verification.

Pi Network recently announced that it has successfully verified over 3.36 million KYC applications, with the verification process nearing 98% completion. As a result, the network has adjusted how mining rewards are allocated, favoring verified participants who contribute more meaningfully to the network. This change reflects a broader shift in Pi’s approach, moving away from the early test-phase rewards model and toward one that rewards verified and engaged users.

Strengthening Trust and Utility Ahead of Open Economy

These combined updates—Kokkalis’ statement, the DEX shift, and the mining rate adjustment—work together to solidify Pi Network’s trajectory as it approaches the transition to a more open, decentralized economy. The founder’s clarification clears up lingering doubts and strengthens the integrity of Pi Network’s leadership. The DEX interface update signals a move toward real trading, while the mining rate increase highlights the platform’s evolving economy, where verified participants are rewarded more equitably.

By addressing these key areas, Pi Network aims to create a more structured and trustworthy environment for its users. As the platform moves closer to integrating external liquidity and transitioning to an open economy, it is clear that these updates are laying the groundwork for a more stable and reliable ecosystem. For many in the Pi community, the message is clear: Pi Network is taking concrete steps toward a functional and trustworthy blockchain economy.