Pi Network’s Lockup Plan Adds Fuel To User Frustration

As distrust settles in the crypto ecosystem, Pi Network fuels tensions with a controversial decision : a voluntary token lockup in exchange for a mining bonus that can rise up to 200 %. In a context of free-falling prices and lethargic liquidity, the initiative provokes the outrage of a community already tested by technical delays and the lack of use cases.

A crypto lockup program timed at the worst moment

While crypto continues to nosedive, on August 2, Pi Network officially announced via its blog the activation of a feature allowing users to voluntarily lock their tokens in exchange for a mining bonus of up to 200 %.

The measure applies on two levels : before migration to the mainnet via the main app, or after migration via the Pi Wallet, in which case bonuses are applied directly to on-chain tokens. Once the choice is made, tokens remain locked for the defined period and the lockup is irreversible.

Here are the specific elements of the implemented system :

• Pre-migration : influences future balances and reward projections ;

• Post-migration : via the Pi Wallet, offers mining bonuses up to +200% ;

• The lockup is final for the entire selected period, with no early withdrawal possible ;

• The program aims to encourage long-term commitment through a voluntary user engagement to support the project’s economy ;

• The announcement comes as the Pi token has dropped 90 % since its February peak and lost another 11% over a weekend, reaching an all-time low.

This strategic choice, presented as a community alignment tool, has been widely criticized on social networks. Many users see it as a poorly calibrated measure, even disconnected from the project’s current reality, due to lack of liquidity, real listing, or concrete token use.

Technical delays undermining the ecosystem’s credibility

Beyond the lockup itself, it is mainly the structural conditions in which it is embedded that attract the harshest criticism. On X (formerly Twitter), many users denounce a feeling of technical stagnation and lack of transparency from the Core Team.

https://twitter.com/pibartermall/status/1951386425750069747

For over a year, community members have validated their KYC, but they still cannot migrate tokens due to persistent migration blockages, leaving many balances in a non-transferable state. For these users, the lockup offer is simply inapplicable, even irrelevant.

Unkept promises also weigh heavily on the project’s perception. Several tools showcased as previews, like Pi Domains or App Studio, remain non-functional or inaccessible, fueling a climate of growing frustration.

In parallel, the mining rate has just been lowered to its lowest level ever, in a deliberate deflationary model logic aimed at limiting tokenization. And to top it off, 160 million tokens must be unlocked in August, which risks putting additional pressure on an already fragile market.

This series of delays, combined with a lack of clear communication on the roadmap, feeds a growing skepticism about the real trajectory of the project as well as investor flight. The absence of concrete prospects or visible partnerships reinforces fears of structural exhaustion. If Pi Network’s crypto really wants to regain the trust of its base, it will have to deliver tangible results, but also restore an open dialogue with its users.