News 
April 4, 2025 
4 min. 
Pi Network and the PiCoreTeam are facing growing criticism as PiDaoSwap voices frustration over prolonged delays in securing Know Your Business (KYB) approval. With no clear timeline in sight, PiDaoSwap has pivoted to launching its NFTs on the Binance Chain as a temporary workaround.
Pi Network Under Fire Over Ongoing KYB Approval Delays
PiDaoSwap, a decentralized exchange, has raised concerns over the prolonged delays in the KYB (Know Your Business) approval process within the Pi Network ecosystem. In a post on X, PiDaoSwap revealed that, despite submitting a KYB application 15 days ago, the PiCoreTeam (PCT) has yet to grant approval.
For projects aiming to build within the Pi Network, obtaining KYB approval is a necessary step. This approval not only allows projects to access developer resources and funding but also unlocks additional support within the Pi ecosystem.
However, PiDaoSwap has expressed frustration over the lengthy wait, describing the delay as “agonizing.” As a result, the project is unable to fully develop its operations on the Pi mainnet while awaiting approval.
In the meantime, PiDaoSwap has decided to launch its NFTs on Binance Smart Chain (BSC) as a temporary solution. Binance, which has continued to exclude Pi Network from its “Vote To List” program, has shifted its attention toward BSC projects for the time being.
“We’ve opted to release community NFTs on BSC rather than wait indefinitely,” said PiDaoSwap. “Only once we receive KYB approval will we be able to proceed with comprehensive development and ecosystem growth on the Pi mainnet.”
PiCoreTeam Faces Increased Criticism Over KYB Delays
In recent weeks, prominent figures in the Pi Network community have been outspoken in their criticism of the PiCoreTeam (PCT). Dr. Altcoin, a key player within the ecosystem, has taken aim at the PCT, particularly over the ongoing delays in KYB (Know Your Business) approvals.
He pointed out that PiDaoSwap’s situation is not an isolated case, revealing that numerous centralized exchanges are also waiting on KYB approval.
“This is just one glaring example of the PCT’s failure,” Dr. Altcoin remarked. “I’m also aware that several CEXs are still stuck in the approval process.”
In addition to these concerns, Dr. Altcoin speculated that Pi Network’s failure to secure a listing on Bybit could be tied to the PCT’s actions. He highlighted the lack of transparency regarding the network’s token-locking and burning mechanisms as a significant reason for the delays in centralized exchanges.
Meanwhile, Pi Coin has seen a 15% drop in value over the past 24 hours, settling at $0.53, which has dampened hopes for a surge toward $1. As investors look for signs of a market correction, many believe that a listing on a major exchange and fresh ecosystem partnerships from the PCT could help push the price higher.
Despite the ongoing criticism, the PiCoreTeam is forging ahead with its domain auction, which has already garnered over 200,000 bids.
