Major breakthrough! Pi Network officially transfers ownership to the Cayman Islands, Mainnet fully launched and countdown begins.

The highly followed blockchain project Pi Network (PI) has officially completed its ownership transfer from Social Chain Inc. to the newly registered Pi Community Company in the Cayman Islands. This strategic change was completed on December 3, 2024, marking an important milestone for the project towards globalization and normalization, while also laying a solid legal foundation for the upcoming full launch of the Mainnet.

Pi Network Ownership Transfer: Strategic Significance is Profound

This ownership transfer is not just a simple change in company registration, but represents a key step in Pi Network's global expansion strategy. The Cayman Islands, as a popular registration location for cryptocurrency and blockchain companies, provides Pi Network with a clearer corporate image and legal status, helping to build stronger credibility in its interactions with global partners and regulatory authorities.

The main advantages brought by this change include:

· A clearer legal identity helps to gain the trust of partners and regulatory agencies.

· Provide a more flexible operational structure for global expansion

· Symbolically shift control towards community-centered entities

· Provide greater adaptability in a complex global regulatory environment

Brand Protection: Trademark Application Confirmation

As part of the transfer of ownership, the trademark application of Pi Network has also been confirmed. Its stylized Pi logo, featuring a purple and yellow color scheme, was officially released in March 2024 under U.S. trademark law. This move ensures that the brand identity of Pi Network is legally protected as it seeks to expand its global influence.

Technical Progress: Testnet Upgraded to Mainnet

An important upgrade of the Pi Network Blockchain infrastructure is taking place simultaneously with the transfer of ownership. According to the latest update, Testnet1 has been upgraded from protocol version 19 to version 22, and the upgrade to version 23 is currently underway. These technical adjustments will subsequently be expanded to Testnet2 and eventually applied to the Pi Mainnet.

The importance of these upgrades lies in:

· Add new features and control layers to enhance network performance

· Laying the foundation for more scalable and efficient operations.

· To make the final technical preparations for the full launch of the Mainnet.

The core team stated that some upgrades may require planned downtime, but all such events will be communicated to the community in advance to maintain transparency throughout the process.

Why is this change crucial for Pi users?

For millions of Pi Network users around the world, these developments signify an important transition of the project from the experimental phase to a more professional and structured development stage. The newly named ownership company “Pi Community” embodies the project's core philosophy of being “built by users, for users.”

The clarification of ownership, the strengthening of legal protection, and the upgrading of technological infrastructure all indicate that Pi Network is preparing to achieve its bigger vision. Although the road to a fully functional Mainnet is long, with the advancement of protocol upgrades and the confirmation of legitimate ownership, Pi Network is better positioned to realize its goal of establishing a user-driven digital currency.

In the coming months, the Pi Network community will closely follow the completion of the protocol upgrade and the further development of the Mainnet. If Pi Network can successfully coordinate the three key elements of governance, technology, and community development, it is expected to transform the community enthusiasm accumulated over the years into lasting real value.