Binance不会列出PI Network的Pi硬币，并以关闭的主网，监管歧义和集中治理为由。

Binance是世界上最大的加密货币交易所，确认它不会列出Pi Network的Pi Coin，这一决定使该项目的大型社区感到失望

Binance, the world’s largest crypto exchange by volume, has confirmed it will not be listing Pi Network’s Pi Coin at this time. The news comes as a disappointment to the project’s large community of supporters, who had eagerly anticipated the move. However, Binance’s decision highlights the hurdles still faced by Pi Network in its current development stage, specifically in terms of market readiness and regulatory standing.

Binance是全球最大的加密货币交易所，已确认它目前不会列出PI Network的PI硬币。这个消息令该项目的大型支持者社区感到失望，后者热切期待这一举动。但是，Binance的决定强调了PI网络在当前开发阶段仍然面临的障碍，特别是在市场准备和监管地位方面。

Why Is Binance Not Listing Pi Network Token Yet?

为什么binance尚未列出PI网络令牌？

Despite Pi Network’s considerable user base, Binance applies a rigorous standard due diligence process for all listing candidates. In the case of Pi Network, several potential issues were uncovered, which has led to the listing being postponed.

尽管PI网络拥有大量的用户群，但Binance还是为所有上市候选人应用了严格的标准尽职调查过程。就PI网络而言，发现了一些潜在的问题，这导致上市被推迟。

One central issue is Pi Network’s closed mainnet environment. As the blockchain is not yet fully open or accessible externally, transactions remain confined, and the network’s activity cannot be readily monitored. This lack of transparency is a critical factor for major exchanges like Binance, who need to be able to properly evaluate critical factors like liquidity, network usability, and genuine decentralization.

一个核心问题是PI Network的封闭的主网环境。由于区块链尚未完全开放或外部可访问，因此交易保持限制，并且网络的活动无法轻易监控。缺乏透明度是Binance等主要交易所的关键因素，他们需要能够正确评估流动性，网络可用性和真正的权力下放化等关键因素。

Without an open and auditable mainnet that can be easily assessed by third parties, major platforms are likely to remain hesitant to proceed with a listing, no matter the size of the community or the project’s popularity.

如果没有第三方可以轻松评估的开放和可审计的主网，那么无论社区规模或项目的受欢迎程度如何，主要平台可能会犹豫要进行上市。

Another factor is regulatory ambiguity. Pi Network is still in the process of applying for and obtaining the necessary approvals from global financial regulators. Without clear approval or a defined path forward from the relevant regulatory bodies, listing Pi Coin would carry significant risks for Binance.

另一个因素是监管歧义。 PI网络仍在申请并获得全球金融监管机构的必要批准。如果没有明确的批准或从相关监管机构前进的确定路径，列表PI硬币将面临巨大的二人风险。

Already operating in a rapidly evolving regulatory landscape and subject to scrutiny in various jurisdictions, Binance is known for its谨慎stance when it comes to listing assets that could implicate the exchange in violations of anti-money laundering (AML) or securities laws.

Binance已经在各种司法管辖区进行了迅速发展的监管景观，并受到审查，在列出可能暗示违反反洗钱（AML）或证券法的交易所的资产时，Binance闻名。

In this case, Pi’s coin’s uncertain regulatory status in key markets like the U.S. or Europe poses a major barrier, especially considering the new reporting requirements and increased scrutiny on crypto firms.

在这种情况下，PI硬币在美国或欧洲等主要市场中的不确定监管状况构成了主要障碍，尤其是考虑到新的报告要求并增加了对加密货币公司的审查。

Centralized governance was another factor that likely played a role in Binance’s assessment. Unlike networks such as Bitcoin or Ethereum, which feature a more decentralized governance model with broad community participation in decision-making, Pi Network’s core team retains substantial control over the project’s direction.

集中式治理是可能在Binance评估中发挥作用的另一个因素。与比特币或以太坊等网络不同，该网络具有更加分散的治理模型，并广泛地参与决策，PI Network的核心团队保留了对项目的方向的实质性控制。

This centralized structure stands in contrast to the decentralized principles that many major exchanges, especially Binance, typically prefer to support. A highly centralized project like Pi could be more susceptible to censorship, biases, and potential abuse of power, which aligns less with the ideals of Web3 and major exchanges.

这种集中式结构与许多主要交流，尤其是二进制通常更喜欢支持的分散原则相反。像PI这样的高度集中项目可能更容易受到审查，偏见和潜在滥用权力的影响，这与Web3和主要交流的理想较少。

Finally, at present, Pi Coin lacks external market liquidity. It is not yet listed on decentralized exchanges (DEXs) and does not have an established, independent price discovery mechanism.

最后，目前，Pi Coin缺乏外部市场流动性。它尚未在分散的交易所（DEX）上列出，并且没有建立的独立价格发现机制。

The IOU markets used to trade Pi outside of the mainnet are largely speculative and do not provide the same level of financial and trading activity needed for a sustainable listing on a major exchange. Binance prioritizes assets with verifiable market activity and sufficient liquidity to ensure a stable trading environment and a fair price for traders.

用于交易通用型PI的IO市场在很大程度上是投机性的，并且没有提供与主要交易所可持续上市所需的相同水平的财务和交易活动。 Binance优先考虑具有可验证的市场活动和足够流动性的资产，以确保交易环境稳定和公平价格。

Listing an asset without these characteristics at this stage would expose the exchange to considerable financial risk and potentially traders to extreme price volatility or even market manipulation.

在此阶段列出没有这些特征的资产将使交易所面临相当大的财务风险，并可能使交易者处于极端价格波动甚至市场操纵。

While Pi Network claims millions of users acquired through its mobile mining app, these user numbers alone do not satisfy Binance’s comprehensive listing criteria. To be considered for listing, a project must meet several technical, financial, and legal requirements.

尽管PI Network声称通过其移动采矿应用获取了数百万用户，但仅这些用户数量并不能满足Binance的全面上市标准。要考虑上市，一个项目必须满足几种技术，财务和法律要求。

These criteria include the functionality and maturity of the underlying blockchain technology, the project’s economic model and tokenomics, the team’s experience and expertise, and the project’s compliance with applicable laws and regulations in the jurisdictions where Binance operates.

这些标准包括基础区块链技术的功能和成熟，项目的经济模型和标记学，团队的经验和专业知识以及该项目符合Binance运营的司法管辖区适用法律和法规的遵守。

In addition to these standard listing criteria, Binance is known for applying a strong risk appetite and a long-term vision when making its listing decisions. The exchange also takes into account the broader trends and developments in the crypto industry, as well as the preferences of its large user community.

除了这些标准上市标准外，Binance还以在做出清单决策时应用强烈的风险食欲和长期愿景而闻名。该交易所还考虑了加密行业中更广泛的趋势和发展以及其大型用户社区的偏好。

As of March 26/27, 2025, prices for Pi Network IOUs or futures on some smaller exchanges were around $0.7876, reflecting sharp recent declines from highs above $1.2 in early 2025. The widely cited market cap (near $5.3 billion based on a 6.8 billion PI supply) remains largely theoretical without an open, actively traded mainnet coin, making it difficult to assess the true market value of Pi Network at this stage.

截至2025年3月26日，较小的交易所的PI网络价格或未来价格约为0.7876美元，反映了最近在2025年初高于1.2美元以上的高价下降。广泛引用的市值（基于68亿美元的PI供应）在没有开放的Main Nupper Inter Inter Inter上，这是一个很大程度上的pi，这是一个非常困难的pi，该公司的成绩是53亿美元（53亿美元）。 阶段。