Important Pi Network Update for Users Struggling With KYC

TL;DR

• Pi Network extended the deadlines for KYC and mainnet migration, causing both optimism and skepticism among users.
• The team directed people facing issues to a Telegram help chat, while a roadmap for the mainnet expected in December 2024 should reveal further information.

Users Can Get Help Here

Pi Network – a revolutionary cryptocurrency project that aims to allow people to mine digital assets on their smartphones – saw the light of day over five years ago. Nevertheless, it remains quite controversial since there is no clear indication of when the native token and open mainnet will go live.

Earlier this year, Pi Network’s team claimed that over 13 million people have already passed Know-Your-Customer (KYC) procedures, whereas six million have migrated to the mainnet. Initially, it advised users to complete verifications by September 30, a deadline known as the “Grace Period.”

Shortly after, though, the working group extended the period to November 30, 2024, while migration to the mainnet was moved to December 31.

The announcements caused mixed feelings from X users, with some describing the extension as “a massive opportunity for small-time builders on the networks and one of the best Pi news of the year.” Others, though, argued that the cryptocurrency project is a scam, expressing skepticism about whether the promised launch of an open mainnet and native token will happen anytime soon.

Most recently, the team behind Pi News (the blockchain media platform on Pi Network) said numerous users still struggle with KYC procedures and migration. It advised those experiencing similar issues to join a dedicated Telegram chat “where there will be mods to answer your questions.”

More Clarity by the End of 2024?

At the end of August, PiBridge, a decentralized finance platform connecting Pi Network to other blockchains, hosted a talk show. Although many expected updates on the mainnet launch, no new details were shared.

Soon after, the Pi Core Team announced they would reveal the mainnet open roadmap, allowing official Pi token transactions, in December 2024. Once again, the decision sparked mixed reactions within the community, with some viewing it as another potential delay.