Pi Network, one of the most anticipated cryptocurrency projects, is inching closer to its highly anticipated mainnet launch. Developers have hinted that the transition to the Open Network could occur as early as December 2024 or the first quarter of 2025.
Key Preparations for the Launch
To facilitate the transition, Pi Network is undertaking several crucial steps. One of the key initiatives is the implementation of Know Your Customer (KYC) verification for millions of pioneers. This process aims to eliminate bots and ensure the authenticity of network participants.
In addition, the network is actively seeking more validators to join and support the verification process. Validators are rewarded with Pi coins, which they can eventually convert to fiat currencies. As the Grace Period deadlines approach, there is an urgent need for additional validators to handle the increasing number of KYC requests and expedite the verification process.
Also Read: Pi Network’s Mainnet Migration Deadline Remains Firm – Countdown to a New Era
Another significant focus area is the development of decentralized applications (dApps) on the Pi Network. The goal is to create a robust ecosystem of applications that solve real-world problems and provide utility for the Pi coin. Developers are striving to reach the target of at least 100 unique and innovative dApps before the mainnet launch.
External Factors Influencing the Launch
The timing of the mainnet launch will also depend on external factors. Pi Network is closely monitoring the crypto market and hoping for a bullish trend to enhance the coin’s prospects. However, unforeseen events such as wars, pandemics, or new regulatory challenges could potentially impact the launch timeline.
The Value of Pi Coin
Currently, Pi coins do not have intrinsic value as they remain within the enclosed mainnet. The coin will only gain value once it transitions to the Open Network. The exact trading price and fully diluted valuation at launch remain uncertain.
It’s worth noting that other tap-to-earn tokens have experienced significant price declines following their airdrops. This trend might also affect Pi coin, as many pioneers may choose to sell their tokens after receiving them.
As Pi Network continues its preparations for the mainnet launch, the crypto community is eagerly awaiting the moment when the coin enters the public market. The success of Pi Network will depend on various factors, including the effectiveness of its development efforts, the market conditions, and the overall adoption of the platform.
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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