As a seasoned analyst with years of experience in the dynamic world of cryptocurrencies, I find myself intrigued by the Pi Network’s recent announcements. Having navigated through numerous projects and their twists and turns, I can’t help but feel a sense of deja vu when it comes to Pi Network’s extended deadlines for KYC and mainnet migration.
TL;DR
- Pi Network extended the deadlines for KYC and mainnet migration, causing both optimism and skepticism among users.
- The team directed people facing issues to a Telegram help chat, while a roadmap for the mainnet expected in December 2024 should reveal further information.
Users Can Get Help Here
The Pi Network – a groundbreaking cryptocurrency initiative that enables users to mine digital assets right on their smartphones – was launched about five years ago. However, due to uncertainty regarding the launch date of its native token and open mainnet, it continues to stir up debate among its followers.
In the first quarter of this year, I, as part of the Pi Network team, announced that approximately 13 million individuals had successfully completed our Know-Your-Customer (KYC) process. Moreover, six million users have transitioned to our mainnet. Initially, we encouraged our community members to finish their verifications before the deadline of September 30, which we referred to as the “Grace Period.
Following this, however, the timeline for the working group was expanded to November 30, 2024. Meanwhile, the transition to the mainnet has been rescheduled to December 31.
The declarations sparked varied reactions from X users, with some viewing the expansion as “an excellent prospect for small-scale developers on these networks and one of the most exciting Pi news this year.” However, others contested that the cryptocurrency endeavor is a fraud, expressing doubts about whether the anticipated launch of an open mainnet and native token will occur in the near future.
More recently, the team managing Pi News (the blockchain media platform on Pi Network) expressed that many users are encountering difficulties with KYC procedures and migration. They suggested that those experiencing similar problems should consider joining a specific Telegram chat, where moderators will be available to address your questions.
More Clarity by the End of 2024?
Towards the close of August, PiBridge, a finance platform that bridges the Pi Network with other blockchains, organized a live discussion. Contrary to anticipations for insights on the mainnet launch, no fresh information was disclosed during this event.
Following this, the Pi Core Team shared plans to unveil their mainnet roadmap for official Pi token transactions, scheduled for December 2024. This announcement once more ignited varied responses within the community, as some perceived it as a possible setback.
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2024-10-15 16:04