Pi Network Mainnet Launch Delayed: New KYC Deadlines Updated

Pi Network Mainnet Launch: New Deadlines Set

Pi Network, a new and creative crypto project that strives to make crypto mining available to everyone with a smartphone announced a delay in the Pi Network mainnet launch. As per the latest update, the individual needs to complete their Know Your Customer (KYC) confirmation process within 75 days and fulfill the mainnet list by December 30, 2024. 

The Pi Network mainnet launch has been eagerly awaited by the crypto community. However, with the latest KYC deadline, it seems the transition to mainnet might be postponed beyond 2024, potentially boosting user frustration. The project has a record of postponing the mainnet launch.

New KYC Deadline Set for Pi Network Mainnet

Not completing the KYC within the set period may result in losing the Pi coin which has disheartened many long-time supporters of the project. Nonetheless, the KYC requirement highlights the network's dedication to regulatory compliance and security.

According to Pi Network’s blog post, there are different deadlines and requirements based on specific Pioneers’ circumstances. 

The Grace Period for qualified Pioneers to complete their KYC starts on July 1, 2024. They must present their KYC application by September 30, 2024, and relocate to Mainnet by December 31, 2024.

For Pioneers not yet eligible for KYC, their timer is paused until they become eligible. Those with Tentative KYC status or applications stuck for over a month will also have their timers paused until issues are resolved. However, the timer will not pause for pending user actions like resubmissions or additional checks.

New Pioneers must complete 30 mining sessions before their Grace Period begins. If a user takes action less than a month before the deadline, the timer will extend to ensure enough time for processing and migration. Moreover, the Pi network mainnet launch date hasn’t been announced yet, but it is expected somewhere in 2025. 

Apart from this, Pi Network also announced the results of Pi2Day Challenge on July 18, showcasing the network’s progress.

Pi2Day Challenge Results 

Started on June 28, 2024, and closed on July 11, 2024, the Pi2Day Challenge 2024 motives to reach Open Network goals, including KYC and the Mainnet Checklist.  

Nearly 4.5 million Pioneers worldwide took part in the challenge, contributing significantly to its success. Out of these, over 1.4 million Pioneers completed all the steps, earning a special emoji next to their username in Pi Chats and a unique, customized image to share on social media.

Through active participation in Pi Apps, the platform, and community programs, Pioneers have shown their commitment and the collective spirit of the Pi community, advancing towards the Open Network goals.

Conclusion 

In conclusion, the Pi Network mainnet launch has been delayed, with a new KYC deadline set for December 30, 2024. This delay has caused frustration among cryptocurrency users, but it underscores the network's commitment to regulatory compliance. The Pi2Day Challenge highlighted the community's dedication, with millions of Pioneers participating and showcasing their progress towards the Open Network goals.

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