In the latest developments for Pi Network, the company has announced an extension of the KYC verification period until November 30, 2024. This move aims to give network users an additional opportunity to ensure their participation in the transition to the mainnet, a major step that will begin on December 31, 2024. This phase is one of the most important milestones in the project’s development, as it will allow users to use Pi tokens for trading and transactions via decentralized applications (DApps).
Identity verification and appointment extension
Pi Network has launched the identity verification process as part of preparations for the mainnet transition. The original deadline was September 2024, but has been extended by two months to ensure that as many users as possible join. However, failure to complete the verification process by the deadline could result in the loss of most of the coins held, except for those mined in the last six months.
Mainnet: A Step Towards Decentralization
With the mainnet launch in late December 2024, Pi will be tradable on decentralized platforms. This development furthers the project’s goal of creating a community-based economy based on transparency and decentralization. According to the statement, Pi Network aims to promote the real-world use of the currency through partnerships with decentralized projects and merchant services.
Tips for users
- Complete the identity verification process before the deadline.
- Encourage referral team members and the safety circle to complete procedures to ensure collective benefit.
- Follow official news to ensure compliance with the required steps.
The move to the mainnet marks a new chapter for Pi Network. As more and more users complete KYC, the community’s hopes for the project’s success and its goals of promoting a decentralized economy grow.