Important information for Pi network users as the grace period deadline approaches: details

TL;DR

Users of the Pi network are being asked to become KYC validators, helping with verification as the project supposedly moves towards its release on the mainnet. Despite multiple recent updates, some remain skeptical about the future of the Pi network due to delays and lack of clarity. Here’s how users can receive Pi tokens

Pi Network, a cryptocurrency project that aims to allow people to mine digital assets on their smartphones, has been around for more than five years, but remains quite controversial. For one, there is still no clarity on when the native token and open mainnet will go live.

Previously, the team argued that the process includes the necessary Know-Your-Customer (KYC) requirements and a final migration to the main network. In August of this year, the developers behind Pi Network claimed that more than 13 million people had already passed KYC procedures. They initially urged users to complete verifications by September 30, later extending the deadline to November 30 (known as the grace period).

Most recently, the Pi Network team said they need additional KYC validators to handle the recent influx of applications and help reduce wait times. According to the announcement, those who join forces with the project as validators will receive Pi tokens for their “good and accurate work.”

“Once you have successfully completed KYC, help KYC move towards the Open Network goals by becoming a responsible KYC validator for your country and region and inviting your fellow Pioneers to complete KYC and migrate to Mainnet,” the team advised.

The project’s ultimate goal is to transition to the open network before the end of 2024. In the meantime, the Pi Core Team previously committed to shedding more light on the open mainnet roadmap (which should enable buying and selling Pi tokens) in December of this year.

Guidance for users who need it

According to another recent disclosure, many Pi network users are having problems with KYC procedures and migration to the main network. Pi News (the blockchain media platform on the Pi network) urged those experiencing similar issues to join a dedicated Telegram chat “where there will be mods to answer your questions.”

The numerous delays in recent months and issues related to KYC verification have led to mixed feelings in the community. Some thanked the Pi Network team for the updates and help, while others believe this is further proof that the project is a scam, expressing skepticism that the native token will see the light of day soon.

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