Pi Network (PI) News Roundup October 1

TL;DR

Pi Network has postponed its KYC deadline to November 30 and mainnet migration to December 31, prompting mixed reactions from the community. The team is selecting partnerships with crypto service providers and other companies to prepare for the launch of the open network. Looking for partnerships

Pi Network, a cryptocurrency project whose goal is to allow users to mine and earn digital assets directly from their smartphones, has been around for more than five years. However, it continues to raise some eyebrows throughout the community as there is no clear indication of when the native token and open mainnet will see the light of day.

Earlier this year, the team advised users to pass the necessary Know Your Customer (KYC) verification procedures by September 30, a deadline known as the “Grace Period.” It later extended the period to November 30, 2024. The final deadline for users to migrate to the main network was moved to December 31 this year.

More recently, Pi Network said it has been selecting partnerships with crypto service providers and other companies ahead of the launch of the open network.

“This is a unique and early opportunity for companies to connect with more than 60 million engaged pioneers and be part of Pi’s rapidly expanding Web3 ecosystem,” the team said.

As usual, the latest announcement sparked mixed feelings among X users commenting below the post. Some described it as “a massive opportunity for small builders on networks and some of the best Pi news of the year”.

Others, however, insisted that the cryptocurrency project is a scam, doubting that the launch of an open mainnet and a native token will be launched soon.

Waiting for December

Another major development surrounding the Pi Network came at the end of August, when PiBridge (a decentralized financial platform that acts as a bridge between the project and other blockchain networks) hosted a talk. While the expected launch of the mainnet was supposed to be part of the discussion, the task force did not share further details.

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

Once again, the community was divided over the move, with some seeing it as another delaying tactic.

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