Pi network shared the news on Twitter about releasing Pi Wallet on the Testnet on March 31. In the announcement, the team mentioned that Test-Pi (or test-π) is not a real Pi. It only aims to test transactions on the Pi Testnet and doesn't carry any value. The Test-Pi balance in the wallet may be reset as Testnet will be systematically reset as part of the testing.
On Pi Day, we announced that the Pi wallet on the Testnet with Test-Pi will be released on March 31, 2021.— Pi Network (@PiCoreTeam) March 20, 2021
We’ve seen an increase in reports of potential scams pretending to be the official Pi Wallet. Please wait for the real Pi Wallet release announcement on the home screen. pic.twitter.com/cQmOc73bxu
Pi token developed by Stanford Ph.D. Nicolas Kokkalis, Chengdiao Fan, M.B.A Vince McPhilip, and visiting student researcher Aurélien Schiltz launched the first phase on March 14, 2019. Then the free app allowing mining through smartphones was also issued. To accomplish the process the network runs an algorithm based on the Stellar Consensus Protocol.
By June 2019, the network had over 100,000 active users. A year later Phase 2 launched and following this, the number of users crossed 3.5 million. Currently, this mark is above 14 million.
Pi tokens aren't available for trading or adding to the portfolio yet. These options will be unlocked when the third phase of the project launches.