The Pi Network team has announced significant progress toward launching its Open Network, with over 9 million Pioneers successfully migrating to the Mainnet. This achievement brings the platform closer to its goal of creating a fully decentralized cryptocurrency ecosystem.
Mainnet Migration and KYC Verification
Mainnet migration is a crucial step for Pioneers to transfer their Pi tokens from the test environment to the Mainnet, enabling real-world transactions. A key prerequisite for this migration is the completion of the Know Your Customer (KYC) verification process, which ensures that all participants are verified individuals, enhancing the network’s security and compliance.
The Pi Network team has emphasized the importance of completing both KYC verification and the Mainnet Checklist to facilitate a smooth migration. Pioneers are advised to review their Mainnet Checklist and the KYC application within the Pi Browser to identify and complete any pending actions.
Grace Period Deadlines
To encourage timely participation, Pi Network has implemented a Grace Period policy. Initially set to end on December 31, 2024, the deadlines have been extended to January 31, 2025, to accommodate more Pioneers. During this period, Pioneers must:
1. Submit their initial KYC application by November 30, 2024.
2. Complete the Mainnet Checklist and migrate to the Mainnet by January 31, 2025.
Failure to meet these deadlines may result in the forfeiture of Pi tokens mined before the migration, except for those mined in the last six months prior to migration.
Path to Open Network
The transition to the Open Network is anticipated in the first quarter of 2025. The Pi Network team is focused on reducing the gap between the number of Pioneers who have completed KYC and those who have migrated to the Mainnet. This effort aims to ensure inclusivity and stability within the ecosystem upon the Open Network’s launch.
Call to Action for Pioneers
Pioneers who have not yet completed their KYC verification or Mainnet Checklist are urged to do so promptly. Completing these steps is essential to secure previously mined Pi tokens and to participate fully in the upcoming Open Network ecosystem.
For detailed guidance on the Mainnet migration process, Pioneers can refer to the official Pi Network channels and resources.
As the Pi Network approaches this pivotal transition, the collective efforts of its community remain crucial in building a decentralized and inclusive digital currency platform. In case you’re mining BOTH Coins then use this REWARD CODE: 422471
For a comprehensive understanding of the Mainnet migration process, you may find the following video helpful:
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