Pi Network hackathon prize pool of 160,000 Pi coins! Pioneers angrily criticize: KYC is cumbersome, Mainnet coin transfer is a long way off.

Pi Network (PI) announced the establishment of a prize pool of 160,000 Pi coins to celebrate the launch of the 2025 hackathon, attracting developers from around the world to participate. However, this event, originally intended to promote ecological innovation, unexpectedly sparked strong dissatisfaction among pioneers (Pi coin supporters) - from the cumbersome KYC verification to the indefinite timeline for the Mainnet coin transfer, the community's doubts continued.

Hackathon Launch: Prizes and Schedule

Total Prize Pool: 160,000 PI coins

Champion: 75,000 Pi coin

Runner-up: 45,000 Pi coin

Third place: $15,000

Honorary Nomination: Up to five teams, each team $5,000

* Key Time Nodes:

Launch Date: August 22, 2025

Mid-term review: September 19, 2025 (free promotion and additional guidance available)

Submission Deadline: October 15, 2025 (Application, demo video, and complete form must be submitted)

Developers can use Pi App Studio, Brainstorm, and the PiOS open-source project, and receive support from the AI toolkit.

Pioneers Discontent: KYC, Mainnet and dApp Commitments Become the Focus

Despite the rich design of the event, some PI coin holders expressed anger over the unfulfilled promises:

Mainnet coin transfer issue: Pioneer Luking questions when the unverified Pi coins can be transferred to the Mainnet, as many early mined coins are still stuck in the testnet.

100 dApp commitments: User Crypto Warrior asked, "Where are the 100 decentralized applications that are ready to go live?"

KYC verification is cumbersome: multiple members criticize the lengthy process, and the Pi Core team is "careless".

Pi coin market pressure: Price retreats from the peak

All-time high: Reached $2.99 one month after the Mainnet launch.

Current situation: Lack of listings on major exchanges, prices continue to decline.

Background: Pi Network has over 70 million global enthusiasts, but there are controversies regarding its partnerships with exchanges.

Pi's Long-Term Strategy: $100 Million Fund and 100 dApps

The Pi execution team once announced the establishment of a $100 million fund, aiming to promote the launch of 100 decentralized applications, with the goal of making the Pi blockchain practical in the real world. However, the community questions the slow progress of these applications, which seems to be at odds with the official commitments.

Why is this controversy important?

Trust Crisis: KYC, Mainnet Coin Migration and dApp Launch Delays Undermine Pioneer Confidence

Market pressure: Lack of exchange liquidity makes it difficult for prices to rebound.

Brand impact: The hackathon was originally an opportunity to promote the ecosystem, but it has now become the focus of community criticism.

Conclusion

The Pi Network hackathon prize pool reaches as high as 160,000 Pi coins, but the community's reaction shows that relying solely on prizes and events is no longer sufficient to quell dissatisfaction regarding the delays in the Mainnet coin transfer, the cumbersome KYC process, and the progress of application implementation. If the Pi Core team cannot provide clear solutions to these core issues, the long-term value of Pi coins and the cohesion of the community will face challenges.