Pi Network’s Mainnet Delay Brings Grace Period For Pi Users

Pi Network Adding Fuel To The Fire With Delays And Grace Period

The cryptocurrency project Pi has created a quite buzz in the market, attracting the attention of every investor involved in the crypto space. Many eagerly awaited the launch of Pi Network's mainnet. However, during the launch time users connected to the Pi Project were once again disappointed with delays.

The Pi development team announced via post that there would be a delay in the Pi network’s mainnet launch. This was entirely expected as there had been indications that the Pi Network mainnet could be delayed. The development team often evaded questions about the network's live status and would instead announce new plans.

Over the past few months, so many rumors have circulated about this project that no one takes any news about Pi Network seriously anymore. However, Pi's supporters still try to keep the project trending by spreading rumors or making certain posts go viral. A similar situation occurred again when Pi announced that the mainnet launch date would be pushed to December followed by a new offer for users.

Announcement of 6-month Grace period for Pi users

In their latest announcement, Pi Network offered a 6-month grace period for its approximately 60 million users. They also introduced a 6-month rolling window for users. This initiative started on 1st July 2024, aims to accelerate the transition to the network's open mainnet. The offer is designed to ensure that all users can smoothly complete their KYC (Know Your Customer) and mainnet migration processes.

Despite the delay in the mainnet launch, Pi Network is now preparing to launch a decentralized exchange (DEX) to retain its user base. Although the Pi team has not officially confirmed this news, they haven't denied it either. Crypto market experts believe this might be another rumor similar to past ones spread by Pi Network's shilling team. The shilling team is a group dedicated to making various news about Pi Network and Pi Coin go viral. Previously, false news about Elon Musk joining the Pi project was also circulated. Therefore, until the Pi Network mainnet goes live, it would be premature to make any definitive statements about this project.

Conclusion

As per CoinGabbar, the Pi Network has managed to create significant anticipation within the cryptocurrency community but the repeated delays in its mainnet launch have led to growing skepticism. The recent announcement of a 6-month grace period and rolling window for KYC and mainnet migration is aimed at ensuring a smoother transition for its users. While the potential launch of a decentralized exchange (DEX) has sparked interest. It remains unconfirmed and possibly another rumor. Until the Pi Network successfully launches its mainnet, it is prudent for investors to remain cautious and not rely solely on the hype surrounding the project.