Late yesterday (17th), Binance released an announcement stating that they have opened a community vote to decide whether to list Pi Network. As long as Binance users meet certain conditions, they can participate in the decision-making of this listing.

Recently, Pi Network has caused a lot of discussion, especially because it will officially open its mainnet at 4 pm (Taiwan time) on February 20. At the same time, exchanges including OKX, MEXC, and Pi Network also announced that they will list PI coins on the same day.

Binance opens voting on whether to list Pi Network

However, it is worth mentioning that although Pi Network is very well-known in the currency circle, Ben Zhou, CEO of Bybit Exchange, directly announced that the token would not be listed:

Today a bunch of people asked me if I wanted to go on pi, and I said stop being ridiculous, I used to trade forex and was always being held up with banners by some bosses asking them to return my hard-earned money, but I really don’t want to get involved in the cryptocurrency world anymore… I’ll just stay away, thank you.

Binance finally responded yesterday (17th), announcing the launch of a community vote to decide whether to list Pi Network. The conditions for participation are simple:

1. Users must log in to a verified Binance account with at least $5 worth of assets in the account;

2. Each user can only vote once;

3. The voting period is from 10:45 pm on February 17, 2025 to 7:59 am on February 28, 2025;

4. Voting is only valid if it is posted on the official Binance Square article.

As of 9 a.m. this morning, despite the fact that opinions on Pi Network within the community are very divided, with some believing it to be a scam, the number of people supporting the listing of Pi coins still accounts for an overwhelming proportion of 86%.

However, it should be noted that Binance emphasized that the voting results are only for reference, and the final decision on whether to list the coin will still be made by the official evaluation. Moreover, this voting activity has restrictions, and users in mainland China may not be able to participate.

Some netizens complained that Binance's operation was simply to get new users for free

For PI coin holders, it is good news that the token can be listed on Binance, but after Binance released the announcement, some people felt that this operation was surprising. Since it is said that the voting results do not determine anything, then isn’t this voting just to attract more new users to register on Binance?

They held this vote and set a minimum deposit threshold of $5. As we all know, PI has a huge number of users, and many of them are elderly people in China. These people are actually potential new users of Binance.

So if Binance does this, there will definitely be a lot of grandpas and aunties who will register on Binance just to vote yes, and because there is a minimum deposit limit, they will definitely deposit a sum of money. The most amazing thing is that if there are many people who vote yes, PI may not necessarily be listed on Binance.

Because Binance said that the voting results are only for reference, and whether it will be listed on Binance in the end depends on their review standards. So even if there are many people who agree, Binance can finally say that "the project does not meet the review standards" and will not list it online (just like OKX initially said it would list PI, but later did not allow Chinese users to participate).

In other words, Binance may not list this token at all, but it can attract a lot of new users to register, and most of these users will deposit money to ensure that they are eligible to vote. After they register and deposit money, Binance may end up doing nothing and directly regard these users' registration as free "income".

That's really awesome. Maybe when selling shares they can use the number of registered users to raise the valuation, make a big move, and attract a bunch of new users.