Short answer: The Binance community vote does NOT guarantee a listing. Even though most users supported it, Binance still decides based on technical, legal and risk checks.
1️⃣ The community vote was only a survey
In the Binance poll (Feb 2025), about 86% of users voted YES to list Pi. But Binance clearly said the vote was for reference only, not a final decision.
After the vote, Binance still performs its internal listing review, which includes security, liquidity, compliance, and project quality checks.
So even if millions vote yes, Binance can still reject or delay it.
2️⃣ Pi Network transparency concerns
Analysts say one big issue is that the Pi blockchain code is not fully open-source yet, which makes it harder for exchanges to verify security and technology.
Large exchanges usually want:
open-source code
independent security audits
transparent tokenomics
If these are unclear, exchanges often delay listing.
3️⃣ No public third-party security audit
Another concern: there is no widely recognized external security audit publicly available for Pi Network.
For big exchanges, this is important because they must protect users from:
smart-contract bugs
blockchain exploits
token manipulation
4️⃣ Possible missing or incomplete listing application
Some analysts also say it’s unclear whether the Pi Core Team has formally completed Binance’s listing application process.
Without that process, Binance cannot list the token, regardless of community demand.
5️⃣ Tokenomics and supply concerns
Pi currently has millions of coins unlocking daily, which can create inflation and price instability.
DailyCoin
Exchanges usually evaluate:
circulating supply
unlock schedules
market liquidity
If these look risky, listing may be postponed.$BTC $ETH #BinanceTGEUP $BNB
