Pi Network 的主网过渡：Web3 里程碑还是海市蜃楼？

Pi Network 的完整主网之旅是 Web3 的一个重要里程碑，但它面临着市场波动和社区的不耐烦。其实用至上的方法会成功吗？

Pi Network's Mainnet Transition: A Web3 Milestone or Mirage?

Pi Network 的主网过渡：Web3 里程碑还是海市蜃楼？

The Pi Network's evolution is a hot topic, with its long-awaited transition to the full mainnet becoming increasingly imminent as of October 2025. This move is more than just a technical upgrade; it's a potential game-changer for the Web3 landscape.

Pi 网络的演变是一个热门话题，人们期待已久的向完整主网的过渡从 2025 年 10 月开始变得越来越迫在眉睫。这一举措不仅仅是技术升级；更是一次技术升级。它是 Web3 领域的潜在游戏规则改变者。

From Enclosed to Open: The Pi Network's Ambitious Journey

从封闭到开放：Pi Network 的雄心勃勃的旅程

Pi Network's shift from an “Enclosed Mainnet” to a fully decentralized “Open Network” signifies a strategic move. Upgrades to scalability, transaction speed, and developer tools are aimed at fostering a robust DeFi ecosystem.

Pi Network从“封闭式主网”向完全去中心化的“开放式网络”的转变标志着一项战略举措。可扩展性、交易速度和开发工具的升级旨在培育强大的 DeFi 生态系统。

Technical Upgrades and Ecosystem Expansion

技术升级和生态系统扩展

Integration of Stellar Core v23.0.1 aims to boost blockchain performance. Expanded developer tools support DeFi apps, smart contracts, and real-world asset (RWA) tokenization. A liquidity pool launch involving 1 billion coins is also in the works to support internal trading and stabilize market dynamics.

Stellar Core v23.0.1 的集成旨在提高区块链性能。扩展的开发人员工具支持 DeFi 应用、智能合约和现实世界资产 (RWA) 代币化。涉及 10 亿枚代币的流动性池也在筹备中，以支持内部交易并稳定市场动态。

Market Sentiment and Price Trends: A Bumpy Ride

市场情绪和价格趋势：坎坷之路

Despite September 2025 volatility, Pi Coin is trading around $0.26 on IOU markets, showing resilience. However, a nearly 48% decline in September to a low of $0.184 raises concerns. The announcement of a universal internal trading date could be the catalyst needed for renewed investor interest, but weak demand and impending token releases pose challenges.

尽管 2025 年 9 月出现波动，Pi 币在 IOU 市场上的交易价格约为 0.26 美元，显示出韧性。然而，9 月份下跌近 48% 至 0.184 美元的低点引发了担忧。通用内部交易日的宣布可能是重新激发投资者兴趣所需的催化剂，但需求疲软和即将发行的代币带来了挑战。

Community Engagement and KYC Progress

社区参与和 KYC 进展

Pi Network's fast-track KYC processes aim to authenticate users before internal trading, enhancing security. The community remains engaged through hackathons and educational campaigns, but impatience for the full Mainnet launch is growing.

Pi Network 的快速 KYC 流程旨在在内部交易之前对用户进行身份验证，从而增强安全性。社区仍然通过黑客马拉松和教育活动参与其中，但对主网全面启动的不耐烦与日俱增。

Strategic Implications for Web3

Web3 的战略意义

Pi Network's mainnet transition aligns with Web3 principles: transparency, autonomy, and interoperability. By enabling internal trading and expanding DeFi capabilities, it aims to compete with established platforms. But, the big question remains: Can Pi translate its massive user base into an active, functional ecosystem?

Pi Network 的主网过渡符合 Web3 原则：透明、自治和互操作性。通过启用内部交易和扩展 DeFi 功能，它的目标是与成熟的平台竞争。但是，最大的问题仍然存在：Pi 能否将其庞大的用户群转化为一个活跃的、功能齐全的生态系统？

A Critical View: Is Pi Network Overvalued?

批判性观点：Pi 网络是否被高估？

While Pi Network boasts a massive community, its speculative valuations on IOU markets far exceed those of more mature, officially traded tokens. This raises questions about its

尽管 Pi Network 拥有庞大的社区，但其在 IOU 市场上的投机估值远远超过了更成熟的、正式交易的代币。这引发了对其的质疑