Pi Network, the cryptocurrency project that promises to allow users to mine digital assets directly from their smartphones, continues to make headlines as it faces delays in launching its native token and open mainnet. Originally, Pi Network had set a deadline for January 31, 2025, for 15 million users to complete Know-Your-Customer (KYC) verifications and migrate to the mainnet. However, this deadline has now been extended to February 28, 2025.
The Pi Network team recently announced that the extension of the KYC and mainnet migration deadlines gives “Pioneers” additional time to ensure their digital assets are secure. Despite the delay, the developers are focusing on resolving challenges that some users face during the verification process.
One of the key updates involves addressing mismatched Pi accounts and KYC names. Users who face rejection due to name mismatches now have the opportunity to appeal, resubmit their application, or update their information. However, this process comes with a penalty, as users may lose a portion of their Mobile Balance. Additionally, Pi Network has introduced minor phone number corrections (up to two digits) to prevent fraud, such as account transfers or hacking attempts.
Looking ahead, Pi Network’s developers aim to launch its Open Network in the first quarter of 2025, although it could happen before or after the Grace Period ends. The team urges users to complete their KYC applications and migration procedures promptly to avoid further delays.
Despite the uncertainty surrounding its launch, Pi Network’s community continues to grow rapidly. Recently, the project has witnessed a surge in gatherings across countries such as India, Nigeria, and China. In Shijiazhuang City, Hebei Province, a large-scale event saw goods sold using Pi payments, showcasing the project’s increasing influence. Pi Network is particularly popular in Asia, with over 1.3 million users in South Korea alone, surpassing major exchanges like Binance and Coinbase.
Also Read: Pi Network’s Major Upgrade Boosts Speed & Interoperability Ahead of Open Network Launch
As Pi Network pushes towards its mainnet launch, the growing global community remains a testament to its potential.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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