The Pi Network Core Team has issued an urgent reminder to its global community of over 100 million users: the deadline to complete the Know Your Customer (KYC) process and migrate to the Pi Mainnet is set for January 31, 2025. Users who fail to meet this deadline risk losing access to the majority of their Pi coins, effectively forfeiting their mined assets.
Importance of the KYC Process
The KYC process is a critical step in confirming the identity of users and ensuring compliance with anti-fraud measures. It helps the Pi Network maintain its integrity by eliminating accounts created through fraudulent or automated means.
For users who do not complete the KYC process, most of their Pi holdings will become inaccessible after the deadline. This measure is part of the Core Team's broader efforts to foster a secure and trustworthy ecosystem.
Grace Period and Rolling Window
The Core Team emphasized that the grace period for KYC and migration to the Mainnet will officially close on January 31, 2025. After this date, users who fail to comply within a rolling six-month window risk losing access to most of their Pi coins.
This announcement comes at a critical time, as the transition to the Mainnet marks a significant milestone for the Pi Network. The team’s goal is to ensure that every legitimate user can secure the full value of their mined Pi holdings by participating in this process.
Current KYC Statistics and Challenges
As of August 2024, only 13 million of Pi Network’s 100+ million users had completed KYC verification, leaving nearly half of the user base pending verification. Although these statistics are expected to have improved since then, a significant number of users remain at risk of losing their Pi coins.
The Core Team has made substantial efforts to address the bottlenecks in the KYC process. Over the past few months, around 1.2 million users who were previously unable to progress with their KYC applications have been unblocked. This initiative reflects the team’s commitment to ensuring that all users have an opportunity to complete the verification process.
Invitation to Validators
To expedite the KYC process, the Core Team has also invited existing verified users to serve as validators. By becoming validators, these users contribute to the network’s integrity and help streamline the KYC process for others. This collaborative effort aims to ensure that as many users as possible can successfully transition to the Mainnet before the deadline.
Urgency for Action
With less than a month remaining until the deadline, the Core Team is urging Pioneers to act immediately. Completing the KYC process and migrating to the Mainnet are essential steps to safeguard their Pi coins and secure their participation in the next phase of the network’s development.
Final Reminder
The January 31, 2025, deadline represents a pivotal moment for the Pi Network. Pioneers who delay risk losing access to the assets they have worked hard to mine. The Core Team is encouraging all users to prioritize this process and take action now to avoid forfeiting their holdings.
For those who have yet to complete KYC, the message is clear: act now to secure your Pi and be part of the Mainnet’s future.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Users are encouraged to verify the details through official Pi Network channels and act promptly to ensure compliance with the KYC requirements.
