#$Enacting the KYC and Mainnet Migration Grace Period: A Strategic Step Towards Open Network

Enacting the KYC and Mainnet Migration Grace Period: A Strategic Step Towards Open Network

As stated in the Pi2Day 2024 announcement, the 6 month KYC Grace Period and its rolling 6-month window (the “Grace Period”) was enacted as of July 1st, 2024! As defined and clarified in the 2021 Whitepaper, the Grace Period is necessary for preparing Pi for Open Network. During this period, Pioneers must submit their initial KYC identity verification application within the first 3 months and take all available actions to complete their KYC and Mainnet migration within 6 months. 

To make these important deadlines salient and clear, in the near future we will be rolling out new app interfaces including initially a countdown timer on the Mainnet Checklist and later a new banner on the home screen, pop ups, etc. These interface updates will help inform and remind Pioneers of their respective deadlines, whether to submit KYC or to complete Mainnet migration, and urge them to take actions as soon as possible. These Grace Period interface features will be iterated and improved upon over time, e.g. refining pauses on timer for stuck cases and providing urgency levels. For Pioneers who have completed the Mainnet Checklist and are fully migrated, they will not see the timer in their app, because the Grace Period requirements and deadlines no longer apply to them.