Pi Network Update: Deadline Extensions for KYC and Mainnet Migration Announced

In a significant update, Pi Network has extended key deadlines to ensure greater inclusivity and a smoother transition to the Open Network phase, which remains scheduled for 2024. This decision reflects Pi Network's commitment to fostering a collaborative ecosystem and enabling as many Pioneers as possible to participate fully in the blockchain revolution.

Another cooking airdrop at Swallow Bitget 👇

https://share.bwb.site/inviteLink?code=SUbZW2&shareLang=id&teamCode=&source=copy

Key Highlights of the Update

Deadline Extension

The first grace period deadline for submitting KYC applications has been extended from November 30, 2024, to December 31, 2024.

• This adjustment aligns the first and second deadlines, offering additional time for Pioneers to complete both KYC and their Mainnet migration process.

Critical Deadline: December 31, 2024

By this date, all eligible Pioneers must:

1. Submit their KYC applications.
2. Complete the Mainnet Checklist and successfully migrate their Pi balances to the Mainnet.

Consequences of Missing Deadlines

Failure to meet these deadlines will result in the forfeiture of most of your mobile-mined Pi balance, with the exception of Pi mined within the last six months prior to migration.

ecommendations for Pioneers

To avoid potential losses and ensure a smooth transition:

1. Submit your KYC application immediately—do not wait until the final day.
2. Encourage your Referral Team and Security Circle members to complete their KYC and migration on time to maintain a seamless network ecosystem.

 

Why the Extension Was Made

The Pi Core Team’s decision to extend the deadlines is rooted in three key considerations:

1. Inclusivity: More time ensures that a broader range of Pioneers, including those facing technical or logistical challenges, can complete their migration.
2. Maintaining the 6-Month Grace Period: Despite the extension, the overall six-month grace period remains intact, preserving fairness within the system.
3. Addressing Corner Cases: The additional time allows for resolving specific challenges faced by Pioneers, such as delayed KYC approvals or technical barriers.

 

Looking Ahead to the Open Network Phase

As Pi Network prepares for its highly anticipated Open Network phase in 2024, several key developments are underway:

• KYC Process Optimizations: Streamlined identity verification procedures are being enhanced to accommodate the growing global community.
• Mainnet Ecosystem Expansion: Developers continue to build innovative applications accessible through the Pi Browser, strengthening the network's utility.
• Countdown Guidance via the Pi App: Pioneers are encouraged to use the app for real-time reminders, migration progress tracking, and tailored instructions.

 

A Vision of Financial Inclusion

Pi Network’s mission extends beyond cryptocurrency mining. By building a decentralized ecosystem, the platform aspires to create a more inclusive financial system. The Open Network phase will be a pivotal moment, unlocking opportunities for Pioneers to utilize Pi in real-world economic activities while maintaining transparency and efficiency.

With millions of active users worldwide, the Pi Network is positioning itself as a transformative player in the blockchain industry. Its focus on inclusivity, fairness, and community-driven development resonates strongly with Pioneers, fostering optimism about the network’s potential.

Final Note: Time to Act

Pioneers are urged to act swiftly. Delaying KYC or Mainnet migration could result in losing the balance you’ve diligently mined.

As Pi Network marches toward the Open Network, this transition represents a collaborative effort involving the Core Team and its global community. With the extended deadlines, Pioneers have an excellent opportunity to prepare for the next phase and ensure their active participation in this groundbreaking journey.

The Open Network is on the horizon, and the world is watching. Will you be ready?

Pi Network Update 📢

Key Points Summary:

⏰ Deadline Extension:

The first Grace Period deadline for submitting KYC is extended from November 30, 2024, to December 31, 2024.

This aligns with the second deadline, giving more time for Pioneers to complete their KYC and Mainnet… pic.twitter.com/lhRjzt1p9q

— Dr Picoin (@Dr_Picoin) November 28, 2024

Source: X

Those who haven't mined Pi Coin, download it now

https://minepi.com/H002xli

Invite Code: H002xli  

HokaNews Launches New Telegram Channel for Latest Airdrops

HokaNews has officially launched its new Telegram channel, HokaNews Airdrop, designed to provide the latest updates on airdrops and collaborative earning opportunities. The channel aims to keep the community informed and engaged without charging any fees.

It is important to note that HokaNews does not solicit payments for airdrop information or access. The only official channel for HokaNews is named HokaNews Airdrop, accessible via the following link: https://t.me/hokanewsAirdrop. Any claims of payment requests from individuals purporting to represent HokaNews are fraudulent.

Want to talk to our team, log in from here 👇

https://t.me/hokanewsAirdropChat

Join us on HokaNews Airdrop to stay updated with the latest airdrop news and participate in opportunities at no cost.

 

Writer @Ellena

Ellena is an experienced crypto writer who loves to explore the intersection of blockchain technology and financial markets. She regularly provides insights into the latest trends and innovations in the digital currency space.

 

 Check out other news and articles on Google News

Disclaimer:

The articles published on hokaNews are intended to provide up-to-date information on various topics, including cryptocurrency and technology news. The content on our site is not intended as an invitation to buy, sell, or invest in any assets. We encourage readers to conduct their own research and evaluation before making any investment or financial decisions.

hokaNews is not responsible for any losses or damages that may arise from the use of information provided on this site. Investment decisions should be based on thorough research and advice from qualified financial advisors. Information on HokaNews may change without notice, and we do not guarantee the accuracy or completeness of the content published.