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Okay, so Pi isn't on Binance or Coinbase yet. What's the deal? Pi Network operates in phases. Currently, it's in the enclosed network period, which started in December 2021. During this phase, Pi can only be transferred between users within the Pi Network. This limited transferability is key. It means you can use Pi to buy goods and services from other Pioneers (that's what Pi Network users are called) through Pi apps, but you can't trade it for, say, US dollars or other cryptocurrencies on a public exchange. The main reason for this enclosed period is to allow the network to mature, test its ecosystem, and refine its technology before opening up to the broader crypto world. Think of it like a beta test, but for a cryptocurrency. The goal is to ensure a smooth and secure launch on the open mainnet. Also, this enclosed state helps the developers make improvements in terms of scalability, security, and KYC procedures. This thorough approach aims at making Pi Network ready for when it is launched to the public.