To the Pi Pioneers Who Are Still Holding On

Many Pioneers have been mining for five or six years, or even longer.
Every day, we open the app and tap once, watching that little lightning-bolt icon light up; we build security circles, invite friends, complete KYC, wait for migration, wait for the Open Mainnet… Over the years, we’ve invested a great deal of time and attention, and even some of our trust. Yet by November 2026, the price had fallen close to its all-time low, to around $0.06–$0.07, down more than 90% from its peak after the Open Mainnet launched in February 2025.
Many people ask: after waiting this long, were we waiting for the wrong thing?
That sense of disappointment is real, and completely normal. After all, Pi isn’t mined by buying hardware, but through people’s continued participation. When the price stays low for a long time, major exchanges have yet to list it, and unlock-related selling pressure keeps appearing, doubt and exhaustion are bound to surface. We’re not saying we can’t acknowledge these difficulties. On the contrary, what comes next only matters if we first acknowledge them.
What is Pi really building?
From the beginning, Pi was never a project that would “raise funds by issuing tokens, list quickly, and pump the price with a narrative.” It has taken a different path: first bringing together a large number of real users (Pioneers) with a very low barrier to entry, then building a verifiable identity network through KYC, gradually opening the Mainnet, and driving real-world application adoption.
So far, the Open Mainnet has been running for more than a year and a half (it launched on February 20, 2025), the protocol has undergone multiple upgrades (including the recent Protocol 28), hundreds of apps are running on the Mainnet, the number of nodes exceeds 400k, and the number of Pioneers who have completed KYC and migration has reached more than ten million.
These figures aren’t perfect proof of success, but they do show one thing: the network’s foundational layer is indeed moving forward. The identity system, app ecosystem, node network, and explorations of payments and stablecoins (such as the partnership with Open Standard) are all gradually taking shape. The upcoming Ecosystem Summit (November 17–19) will also continue to focus on developer tools, app showcases, and ecosystem development, rather than talking about price alone.
Any blockchain project that needs real users and real-world use cases will go through a long “building phase.” During this period, the price is often very unfavorable, because supply keeps entering circulation while demand (demand for actual use and holding) is still slowly growing. Pi is at this stage now.
Patience isn’t just empty talk; it’s the reality of a building cycle
Patience doesn’t mean asking everyone to keep waiting unconditionally. It means understanding what we’re waiting for and what we’re building.
If we look only at the price, things are indeed looking very bad. But if we look at the foundations—whether identities are accumulating, apps are increasing, nodes are growing, and the protocol is evolving—then things have actually been moving all these years. It’s just that this progress is slow, so slow that it’s easy to lose patience.
What will truly determine whether Pi can stand the test of time isn’t its short-term price, but whether it can gradually evolve from a “mining community” into a “network with real utility.” This process takes time, and it also requires more people to keep using, building, and holding when the price is poor.
Conclusion: Unity is what will take us further
What’s most needed now isn’t blaming one another or making empty promises, but genuine unity.
Unity doesn’t mean everyone has to buy, lock up their tokens, or chant slogans. It means recognizing that we’ve all endured the same long wait and have all given our time to this network, then doing what we can:
• Continue using apps in the ecosystem;
• Those who can afford it may consider regularly buying and holding with money they can afford to lose (this is voluntary investing, not an obligation);
• Help newcomers avoid unnecessary detours and scams;
• Share accurate information in the community instead of fueling emotional conflict.
The price will fluctuate, unlocks will continue, and outside criticism won’t stop. But as long as enough Pioneers are willing to keep using and building the network together, rather than tearing one another down during a downturn, the network still has a chance to move forward.
“Unity conquers all” isn’t just a slogan. It’s the real choice Pioneers face during a long building phase: whether we can continue to trust and support one another.
We’ve come this far together, and those of us still here are already a minority. The rest of the journey can only be completed together by those who remain.

#PiNetwork