Pi said 'don't buy Pi' - does that make bought π a different asset?

No. That guidance belonged to the Enclosed Mainnet period, which ended with the Open Network launch on 2025-02-20. It was a policy statement about acquiring π, not a property recorded on the ledger, and it never created a per-unit origin field. The MiCA whitepaper now describes exchanges as the secondary market where mined π is resold.

FAQ — “Pi said: don’t buy Pi” (before 2025)

The claim

People share proof (screenshots/statements) that Pi Network said “Do not buy Pi” and “buying or selling Pi is not allowed” before 2025 — concluding that buying Pi is prohibited or that exchange Pi isn’t legitimate.

The answer: this was Enclosed Mainnet policy — officially ended on February 20, 2025

1. The time context (when the rule applied)

During the Enclosed Mainnet phase (December 2021 → February 20, 2025) there was a firewall blocking all external connectivity.

Official (Pi): “The current Mainnet Phase 3 began in December 2021 with the launch of the Enclosed Network period, which meant Mainnet was live but with a firewall that prevents any external connectivity.” 🔗 https://minepi.com/blog/open-network-launch-date/ (2025-02-11)

And since Pi was not listed on any exchange, anyone “selling Pi” was a scammer:

“Do not buy Pi cryptocurrency from any crypto exchange. Our Pi token is not listed on any crypto exchange.” (Pi’s guidance at the time)

👉 So the rule was anti-scam protection (a legitimate purchase was impossible), not a judgment about the asset’s nature.

2. The rule was officially repealed — Open Network

Official (Pi): “With Open Network, the firewall that was in place during Enclosed Network has been removed.” “Pioneers are also able to engage in transactions beyond the Pi ecosystem.” “Open Network also brings support for integrations with centralized exchanges (CEXs) and onramps to provide additional means of acquiring Pi for use in the Pi ecosystem.” 🔗 https://minepi.com/blog/open-network/ (2025-02-19)

👉 After Feb 20, 2025, Pi itself treats exchanges as an official way to acquire Pi (“additional means of acquiring Pi”).

3. Legal corroboration — the MiCA whitepaper (Nov 2025)

F.2: “…facilitate transfers and lawful secondary-market trading on compliant platforms.” E.2: “The issuer is seeking admission to secondary trading only…” 🔗 https://minepi.com/wp-content/uploads/2025/11/MiCA-Whitepaper-Pi-1.pdf

4. Why this doesn’t touch fungibility at all

“Don’t buy Pi” was a temporary policy tied to the closed network — not a technical property.
It does not differentiate mined π from exchange π, and does not make them two different assets.
In fact it confirms a single origin = mining (no primary sale); exchanges are the secondary market.

Table: how the rule changed

Conclusion

Whoever cites “don’t buy Pi” is citing an expired document. Pi itself repealed it on February 20, 2025 (Open Network), and exchanges became an officially recognized way to buy.

And once again, this does nothing to fungibility: π is still π, with no distinction between mined and exchange Pi.

Official sources

Open Network date announcement (firewall / Enclosed Network): https://minepi.com/blog/open-network-launch-date/
Open Network launch (firewall removed + CEX): https://minepi.com/blog/open-network/
MiCA whitepaper (secondary-market trading): https://minepi.com/wp-content/uploads/2025/11/MiCA-Whitepaper-Pi-1.pdf