Pi Network News: Pi Network Mainnet Launch and KYC Update

January 31 Marks the KYC Deadline

Pi Network, a mobile-based cryptocurrency platform that has gained worldwide attention, is entering a crucial phase in its journey toward mainnet launch. The Know Your Customer (KYC) verification deadline is set for January 31, a milestone that could determine the future direction of the network.

Currently, over 13 million users have completed the KYC process, with approximately 8 million successfully transferring their Pi coins to the mainnet. However, Pi Network developers have emphasized that at least 10 million users must complete the process before the mainnet can officially launch.

Requirements for Mainnet Launch

Apart from completing the KYC process, two other key requirements must be met before the official mainnet launch. First, the network must have at least 100 fully operational applications within its ecosystem. Second, the external environment necessary for the launch has already been fulfilled.

With these requirements nearing completion, the Pi Network community eagerly awaits an official announcement from the developers regarding the mainnet launch schedule.

Pi Coin Price Movements

As the KYC deadline approaches, Pi Coin’s price has seen fluctuations. Last Sunday, the coin was trading at $43.22 before experiencing a slight correction to $42.21 at the time of writing. The key support level remains around $38.

Analysts predict that if the mainnet launch is confirmed within the first quarter of this year, Pi Coin’s price could see a significant surge. For pioneers who have been mining Pi for over six years, the mainnet launch will be their first opportunity to convert their digital holdings into fiat currency.

The Future of Pi Network

Pi Network has grown rapidly, now boasting over 67 million active users worldwide. Its unique approach to accessibility and decentralization positions it as one of the most promising projects in the Web3 and decentralized finance (DeFi) landscape.

With a current market capitalization of $2.86 billion, Pi Network is attracting increasing attention as a potential game-changer in the crypto industry. However, whether the mainnet launch will proceed as planned or face further delays remains a crucial question for the Pi Network community and investors.

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.

 

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