Pi network critical update for all users – details

TL;DR

Pi Network extended its KYC and mainnet migration deadline, frustrating many users who were hoping for a faster mainnet release. The Pi Core Team announced that the roadmap for the open mainnet, which allows the buying and selling of Pi tokens, will be revealed in December 2024. Change of plans

Pi Network is an intriguing cryptocurrency project that aims to allow users to mine Pi Coins directly from their mobile devices without the need for computing power or significant energy consumption. It was officially introduced in March 2019, with the team recently celebrating 2,000 days since that milestone.

However, the project remains quite controversial because there is no clear indication of when community members can expect the release of an open mainnet and a native token.

Not long ago, the team said that all users would have to go through Know Your Customer (KYC) verification procedures by September 30, a deadline known as the “Grace Period.”

Earlier this week, however, the developers behind Pi Network extended the date to November 30, 2024. In addition, the final deadline for users to migrate to the main network was moved to December 31 this year

“Be sure to meet these deadlines to avoid losing most of your past Pi balance, other than Pi mined within the continuous window of the last 6 months prior to your Pi migration,” the team advised.

It’s worth noting that many X users commenting on the post were unhappy with this decision. Some claimed the delay was just another sign that the open mainnet wouldn’t see the light of day anytime soon.

“Everything is just an excuse for a bad project. I successfully verified my face three times and it still asks me for another verification. If your neighbor knocked on your door several times, would you call the police? asked another user on the social media platform.

Expecting a potential announcement in December

Pi Bridge (a decentralized financial platform that acts as a bridge between the Pi network and other blockchain networks) hosted a talk at the end of August, featuring prominent people from the community. While the launch of the mainnet was supposed to be a major topic of discussion, the team remained silent on whether this was actually the case.

Shortly after the talk, however, the Pi Core Team said that the open roadmap to the mainnet, which aims to allow the official buying and selling of Pi tokens, will be announced in December 2024.

Mainnet Opening Update

1. Pi Core Team has revealed that in December, it will announce the Open Mainnet Roadmap (allows official Pi buy and sell transactions).

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— Pi Network News (@PiNetworkLap) September 5, 2024

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