#PI According to the network's blog, users will be required to purchase domains with Pi during the auction, which runs from March 14 to June 28, 2025, and can be extended if new bids are made within the last 24 hours before closing. How the .pi domain auction works The .pi domain auction is open to all members of the Pi community, including individuals who purchase Pi through a centralized exchange. Users can participate by visiting the Pi browser, where they can bid on the domain name at an auction price of as low as 10 Pi The highest bidder will ensure that the domain name is used exclusively. Registration and maintenance fees will be similar to traditional domain name services available on Web2. The Pi team also talked about the auction's reversible auction system feature, which allows participants to withdraw their Pi before the auction ends. However, individuals who buy Pi on exchanges will have to follow a different process. Instead of using a balance they can apply for, they will receive a custom Pi blockchain address where they can send their Pi as payment Refunds for these standard payments will only be processed after the auction closes. Once an exchange-based bidder wins a domain name, they will need to set up a standard Pi blockchain account to receive the domain name. The first open network, PiFest, begins Pi Network has also launched a shopping event for online users and merchants called PiFest, which will be held globally from March 14 to March 21, 2025. PiCoreTeam claims that the merchant registration period began two days before the event, with more than 100,000 businesses already registered, of which 49,000 active merchants are listed on Pi Map, a platform where users can find participating businesses. Web3 projects have updated their ecosystem interfaces to remove pre-approval requirements for developers. Previously, developers had to meet specific eligibility criteria before they could apply to have their apps listed in the Pi browser ecosystem. With this update, any developer who meets the mainnet requirements can now apply immediately, eliminating delays in the application process. Pi Coin Continues to Fall After Mainnet Migration Event Pi Coin's price has fallen from an intraday high of $1.72 to less than $1.50 due to network issues that make it difficult for users to move their tokens on the expiration date. The token's value has fallen by more than 22% since Thursday. According to CoinGecko, the coin reached an all-time high of $2.99 six days after trading began, but is now down about 51% from its peak on February 26. It is also down 35.3% in two weeks and 19% this week