Critical Pi Network Update Concerning All Users: Details

The Pi Network has announced an extension of its KYC and mainnet migration deadlines, disappointing many users who were eager for a faster launch of the mainnet. The Pi Core Team has revealed that the roadmap for the open mainnet, which will allow users to buy and sell Pi tokens, will now be unveiled in December 2024.

Change of Plans

Launched in March 2019, Pi Network allows users to mine Pi coins directly from their mobile devices without needing extensive computing power or energy. The project recently celebrated its 2,000-day milestone. However, it remains controversial due to the lack of clarity surrounding the launch of the open mainnet and the native token.

Previously, the team set a deadline of September 30 for users to complete the Know-Your-Customer (KYC) verification process, known as the “Grace Period.” This deadline has now been extended to November 30, 2024. Additionally, the final date for users to migrate to the mainnet has been pushed to December 31 of this year. The team emphasized the importance of meeting these deadlines to avoid losing most of their existing Pi balance, except for tokens mined within the last six months.

Many users on social media expressed frustration with this decision, suggesting that the delay indicates the open mainnet may not launch soon. One user remarked, “It’s all just an excuse for a bad project. I have successfully verified my face three times, and it still keeps asking for another verification.”

Waiting for an Announcement in December

At the end of August, Pi Bridge—a decentralized financial platform linking the Pi Network with other blockchain networks—held a talk show featuring notable community members. While the mainnet launch was expected to be a key topic, the team did not provide updates on its status.

However, the Pi Core Team has confirmed that the roadmap for the open mainnet will be announced in December, aiming to facilitate official buying and selling of Pi tokens.