Pi Network is a social cryptocurrency and developer platform that.
1• allows mobile users to mine Pi coins without draining battery or harming the environment.
2• fosters the world's most accessible and ubiquitous apps platform where developers can offer users real life utilities and products in exchange for Pi coins. With its 35+ million engaged user base and novel mining mechanism that allows anyone to mine Pi straight from their smartphones, Pi Network strives to bring real power back to the masses. Pi's blockchain secures not only transactions via a mobile meritocracy system but also a full Web 3.0 experience where community developers can build decentralized applications (dApps) for millions of users.
Pi network is real with a market cap of $1,120,344,681,920 and price of $25.33 on the coinmarket cap.
https://coinmarketcap.com/currencies/pinetwork/I think Pi network on this coinmarketcap is fake, because the official Pi network says that Pi hasn't been traded, so of course until now Pi still doesn't have a price, but the last news I read, if you need do KYC to be able to transfer your Pi from testnet to mainnet and the KYC process takes a very long time, because some people have been more than 6 months to make KYC, but the KYC is still in process.
but I won't do KYC, because the Pi project is still unclear and doesn't have a price, therefore I don't want to do KYC until the project is finished and can be traded.
Talking about kyc, it is optional to do your kyc if you want or wait for the project to be fully launched, Pi Network is real but without general fixed price yet, and most people that have been kyced are migrated to the Mainnet Pi has two stages of mainnet the enclosed main net and the open mainnet.
It is currently on the enclosed mainnet where migrated users in different countries can spend their Pi to buy goods and services at an agreed price, through a peer to peer means of transaction.
The project is real and the core Pi network team are working hard to launch Pi on the openmainnet whereby Pi can be traded at a general consensus price worldwide.
The price on the coinmarket cap is not the real price of Pi it's just their speculations on what amount Pi might be when it's fully launched.