Pi Network has announced significant progress toward its highly anticipated Open Network mainnet launch, now scheduled for the first quarter (Q1) of 2025. While the network initially aimed for a December 2024 launch, Pi Network founders Chengdiao Fan and Nicolas Kokkalis have outlined three key conditions to fulfill before the mainnet can go live. Despite missing the original deadline, the team has made strides toward meeting these goals.
Major Milestone Achieved: 18 Million KYC’d Pioneers
In its latest update, Pi Network revealed it has surpassed a critical milestone: over 18 million Pioneers have completed the Know-Your-Customer (KYC) process, well beyond the 15 million target. This achievement is a crucial step in ensuring the integrity and security of the network. The Pi team has focused on refining the KYC process, addressing issues such as tentative cases, resubmissions, and bugs.
However, a significant challenge remains. While 18 million users are KYC’d, only about 8 million have migrated to the mainnet. The network has set a goal of 10 million migrated users before the mainnet can launch, and the team has emphasized that this migration gap could affect the long-term stability of the network. To address this, Pi Network has ramped up its migration capabilities, with over 500,000 users successfully migrating in the past week alone.
Migration Improvements and Future Projections
The migration process has been streamlined, allowing for up to 200,000 Pioneers to migrate daily. The Pi team is also introducing a new feature that will enable Pioneers to conduct second and subsequent migrations of their transferable balances. With these enhancements, the team anticipates reaching the 10 million migration goal by January or February 2025, putting the network on track for its Q1 mainnet launch.
Open Network Progress and Upcoming Developments
Regarding the three conditions for the Open Network launch, Pi Network has made substantial progress on scaling both KYC and mainnet migrations. The team has indicated that no external environmental factors will delay the launch. Additionally, the Pi Network has deployed over 80 mainnet-ready apps and released a new interface for accessing Pi apps through the Pi browser, ensuring a seamless transition when the network goes live.
With an extended grace period until January 31, 2025, Pi Network is giving Pioneers more time to secure their Pi coins, making the upcoming mainnet launch one to watch.
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