As a researcher with years of experience in the dynamic and often unpredictable world of cryptocurrencies, I find myself both intrigued and slightly amused by the Pi Network’s recent developments. On one hand, I appreciate the transparency and openness the team demonstrates in keeping their community updated about project milestones. However, the repeated delays and extensions have left many users feeling frustrated, much like a kid waiting for a promised Christmas present that keeps getting pushed back.
TL;DR
- Pi Network extended its KYC and mainnet migration deadline, frustrating many users who were expecting a quicker launch of mainnet.
- The Pi Core Team announced that the roadmap for the open mainnet, allowing the buying and selling of Pi tokens, will be revealed in December 2024.
Change of Plans
The Pi Network is an engaging cryptocurrency initiative designed to let users mine Pi coins straight from their smartphones, eliminating the need for substantial computing power or energy usage. It was initially launched in March 2019, and the team has recently commemorated reaching a milestone of 2,000 days since its introduction.
Despite this, the project continues to stir debate due to the lack of definitive information regarding the timeline for the release of the open mainnet and its associated native token to the community.
Recently, the team announced that all users need to complete their Know-Your-Customer (KYC) verification process by September 30th, which is commonly referred to as the “Grace Period.
Initially scheduled for earlier this week, the creators of Pi Network have postponed the deadline to November 30, 2024. Furthermore, the initial date for users to transition to mainnet has been pushed back to December 31 of this year.
To keep most of your accumulated Pi, it’s crucial to meet these deadlines. Your Pi earned outside of the last six months before migration will not be carried over unless mined within this timeframe,” the team suggested.
It’s important to point out that a significant number of X users expressed dissatisfaction with the decision, some even suggesting that the delayed launch could indicate that the mainnet might not be released for quite some time.
The user on the social media platform stated, “It’s just a flimsy reason for a poorly executed project. I have authenticated my identity three times already, yet it continues to request another verification. If your neighbor knocked on your door repeatedly, wouldn’t you consider it unusual enough to call the authorities?
Waiting for a Potential Announcement in December
At the end of August, the Pi Bridge – a platform connecting the Pi Network with other blockchain networks – organized a talk show, inviting key members from its community. Although the mainnet launch was expected to be a primary focus, the team declined to confirm whether it would indeed be discussed.
Following the conclusion of the talk show, it was mentioned by the Pi Core Team that they plan to unveil the timeline for the mainnet, focusing on facilitating the purchase and sale of Pi tokens, in December 2024.
Mainnet Opening Update
The Pi Core Team has shared their plans to unveil the Mainnet open roadmap next month, which includes enabling official Pi purchasing and trading.
SHARE OR RETWEET THIS! #PiNetwork
— Pi Network News (@PiNetworkLap) September 5, 2024
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2024-09-20 14:19