Pi Network announces special event: Starting October 29

Pi Network has announced that its PiFest event will resume on October 29, signaling an effort to boost the real-world usage of its native cryptocurrency, PI coin. The event aims to promote the integration of PI coin into local businesses, with participating stores being featured on the Pi Map. This map, accessible through the PiOS app, will allow PI coin holders to easily find businesses that accept the currency.

Pi Network has invited businesses and users, referred to as Pioneers, to take part in PiFest by integrating PI coin into their operations and attending the event. The Pi Network team emphasized the importance of increasing the coin’s utility in everyday transactions.

The upcoming PiFest follows the success of the first PiFest held in December 2023, which received mixed reactions within the cryptocurrency community. Some saw the event as a potential boost for the project, while others eagerly await the launch of the mainnet and the official release of the PI coin.

In addition to the PiFest announcement, Pi Network has been making progress with other developments. One key update is the release of Pi Node Version 0.5.0, which is part of the ongoing work toward launching the mainnet. Alongside this, the project is placing significant emphasis on the Know Your Customer (KYC) process. Users must complete KYC verification by November 30 to participate in the mainnet transition, marking a critical milestone for the network.

Pi Network is encouraging users to become validators as part of the KYC process. These validators will play an important role in maintaining the integrity of the network and will be rewarded with PI coins for their efforts. The surge in KYC requests suggests a growing interest from users eager to transition into the mainnet phase, though the project has yet to launch its native token officially.

Overall, Pi Network’s updates, including the PiFest and the KYC push, are pivotal in its effort to transition from a testnet environment to a fully operational mainnet, with the PI coin playing a central role in its future.