Binance has decided not to list Pi Network's Pi Coin at this time. The decision stems from several factors, including Pi Network's closed mainnet, which limits transparency and liquidity assessment, as well as regulatory uncertainties and concerns about centralization.
Additionally, Pi Coin's absence from Binance's "Vote to List" campaign was due to its non-BNB Smart Chain.
Full reasons:
Lack of Open Mainnet:
Pi Network's mainnet is still closed, which raises concerns about liquidity, transparency, and true decentralization.
Regulatory Concerns*: Pi Network has faced questions regarding its compliance with financial and security regulations in different jurisdictions.
Centralization and Governance
Issues- Pi Network's current structure raises concerns about centralization, with its developers maintaining a high degree of control over the network.
Lack of External Liquidity and Market Readiness:
Pi Coin lacks external liquidity, making it unsuitable for listing on a major exchange like Binance.
These concerns have led Binance to reject Pi Network's listing, at least for now. However, it's worth noting that Binance does track Pi Network's progress, and a future listing is not entirely ruled out.