Today, I will share the latest update on the Pi Tokens IOUs and the Pi Network as a whole.

The Pi Tokens have been listed on many exchanges, such as Huobi, Bitmart, Biconomy, and SuperEx.

But does that mean you can now buy or sell your Pi tokens?

Come with me to the next section as I explain better.

What Are Pi Tokens IOUs?

IOU is an acronym for I Owe You, which is an informal acknowledgment of the debt that one party owes the other.

So, Pi Tokens IOUs are what you have listed on exchanges, and they represent the yet-to-be-released Pi Tokens.

When you purchase the Pi Tokens IOU, the exchange owes you PI Tokens.

You will be given the Pi Token equivalent when the Pi mainnet is launched.

For example, if Kaima visits Bitmart and buys 5 Pi Tokens, she will spend $150.55 (the price of Pi Tokens as of Press Time is $30.11 each).

So when the Pi mainnet is launched, Kaima will receive $150.55 worth of Pi Tokens.

Now, you may ask: Is buying the Pi Tokens IOUs safe?

Read my take on that below.

Is It Safe To Buy The Pi Tokens IOUs? – My Take

My sincere answer will be NO, and I will state my reasons for this answer below.

Personally, I have two fears of the Pi Network – fear of it launching and fear of it not launching.

Following my illustration above, either of the below-listed scenarios will play out for Kaima if Pi mainnet launches:

i. Pi mainnet may launch, and the Pi Tokens price will be less than $30.11. That leaves Kaima at a loss.

Say it launches at $5 per token; Kaima will lose more than $100 from the money she spent buying the Pi Tokens IOUs.

ii. Conversely, Kaima will smile at the banks if it launches at a price higher than $30.11.

Say it launches at $40; Kaima will gain from her initial sum.

My second fear of the Pi network is that it may never launch.

Hold up… I’m not trying to sound pessimistic, but the launch has taken ages.

Pi Network has three development stages, namely;

• Beta (December 2018 – March 2020),
• Testnet (March 2020 – December 2021), and 
• Mainnet (December 2021 – till date)

The Mainnet stage has 2 network periods: the Enclosed network and Open network periods.

In the Mainnet stage, users can cash out the Pi coins they have been mining since the Beta stage.

Since 2021 to date, the mainnet is yet to launch, and we do not know how much more time it will take before launching.

So, you can now understand with me why I am not bagging the Pi Tokens IOUs.

I am seeing a risk of losing my money, and I am choosing to avoid it.

But with all these, people are still asking:

Can I sell my Pi Tokens now?

Find out below.

Can I Sell My Pi Tokens Now?

Dear Pioneer, the answer is NO… not yet.

This is because Pi Network is still in its Enclosed Network stage and has to launch its Open Mainnet before one can sell.

Again, you need to have completed your KYC verification before you can sell your tokens. Watch this video to see how to go about the KYC verification.

Of late, the KYC process is moving at a snail’s pace. Mine has taken more than two weeks but is yet to be verified. (see screenshot below)

When you complete the verification, you can move your tokens to the mainnet before considering selling them.

However, some stores around the world are accepting Pi Tokens for payment.

You can use your Pi Tokens to purchase goods and services where they are accepted.

Or, join the rest of the Pioneers to hold till mainnet launches.

Before I draw the curtains for today, I want you to note that the information contained therein should not serve as financial advice.

They are information that I put together through my research.

That said, let’s go and conclude this post.

Conclusion

There you have the latest update on Pi Network. I hope it was a worthy read.

Pi Network is one project that has garnered many users worldwide.

It requires you to download the app and click on the mining button once a day.

But the constant shifting of goalposts as regards the mainnet launch is casting dark clouds around the project.

I guess this is another one we will have to sit out.

As events unfold, I will keep you updated.

Meanwhile, if you want to learn how to trade cryptocurrencies profitably, sign up for free on Afibie.

You can join our Telegram channel, where we hold live sessions and give trade signals.

Till the next update, keep hodling!