Pi Network is making significant strides as it shifts its focus toward the Open Network launch, planned for Q1 2025. The core team is urging users to complete the Know Your Customer (KYC) verification process, a key requirement for full participation in the ecosystem. This critical step is essential for pioneers who want to seamlessly transition to the Mainnet once it goes live.
Related: Pi Network KYC and Mainnet Migration – Tips and Tricks for a Smooth Process
The Importance of KYC for Mainnet Migration
In a recent X post, Pi Network’s core team highlighted the importance of KYC verification in ensuring the network’s smooth transition to the Open Network. Pioneers who complete the KYC process will be able to use their Pi tokens immediately upon the network’s launch. The team’s goal is to reduce the gap between KYC-approved users and those who have migrated to the Mainnet, ensuring maximum participation and engagement once the Open Network is active.
“More Pi migrated to Mainnet before Open Network means more engagement and stability in the ecosystem,” the Pi Core Team stated, emphasizing the need for more KYC-verified pioneers to migrate before the launch.
This will foster a more robust and active community.
Rewards for KYC and Migration
Pioneers who refer new users to complete KYC and migrate to the Mainnet will also benefit. Those who help expand the network can earn additional Pi tokens based on the successful migration of their referrals. This incentive encourages pioneers to actively engage in the KYC process, ensuring the ecosystem thrives in its transition to the Open Network.
Pi Network’s Progress Towards Mainnet
Pi Network’s mining mechanism, powered by a mobile app, has gained significant traction, with over 18 million KYC-registered users. The team has enhanced the KYC process by addressing resubmissions and application issues. Furthermore, over 80 mainnet-ready apps are now available, and a new feature will allow pioneers to transfer more of their balances to the mainnet. These developments mark a major step toward Pi Network’s anticipated Mainnet launch in early 2025, paving the way for a new era of blockchain participation.
Also Read: Pi Network Restores “Forgot Password” Feature to Safeguard User Accounts and Pi Coins
As Pi Network prepares for the Open Network launch, pioneers are encouraged to complete their KYC to fully benefit from the upcoming developments and actively contribute to the ecosystem’s growth.
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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