Pi Network (PI) News Recap: Here’s What Happened in the Past 30 Days
TL;DR
- Pi Network extended its KYC and mainnet migration deadlines to November 30 and December 31, 2024, frustrating some users who suspect further delays in launching the mainnet.
- Despite community skepticism, the Pi Core Team announced that the mainnet open roadmap, enabling the official trading of Pi tokens, will be revealed in December 2024.
Most Important Recent Updates
Pi Network has been around for years, but it remains one of the most controversial projects in the cryptocurrency industry. While it aims to allow users to mine and earn digital assets directly from their smartphones, the uncertainty of when a native token and mainnet will be introduced keeps raising eyebrows across the community.
Over the past month, the team behind Pi Network announced several updates and upcoming initiatives that could be interesting for users.
The working group argued that over 13 million people have already passed Know-Your-Customer (KYC) procedures, whereas more than six million have migrated to the mainnet. It also set September 30, 2024, as a deadline for users to complete their KYC verification and transition to the mainnet.
“Make sure you don’t miss your deadlines to submit KYC or migrate your Pi. Ask your Security Circle and Referral Team to take actions before the Grace Period ends,” the disclosure reads.
In addition, PiBridge (a decentralized financial platform that acts as a bridge between the Pi Network and other blockchains) introduced an NFT Pool on its application. The team advised miners to deposit their non-fungible tokens to stake on the app before September 30, 2024.
Earlier this week, though, Pi Network changed its deadlines. As CryptoPotato reported, Know-Your-Customer (KYC) verification procedures (known as the “Grace Period”) were extended to November 30, 2024, while the final deadline for users to migrate to the mainnet was moved to New Year’s Eve.
Many showed their dissatisfaction with the latest amendments. Some claimed the delay could be another sign that the project is a scam, while others started losing hope that the open mainnet will ever see the light of day.
The Talk Show and the Subsequent Effort
PiBridge hosted a special podcast at the end of August, promising to discuss the highly anticipated launch of the mainnet. The speakers of the talk show included Victor Nguyen (CEO of PiBridge), Woody Lightyear (Founder of Pi Revolution), Wesley Rocha (Marketing Manager of Teltlk International), and Vindicated Chidi (a prominent figure within the Pi Network community who often takes part in such community gatherings).
Shortly after the discussion, the Pi Core Team said the mainnet open roadmap, which should allow the official buying and selling of Pi tokens, will be announced in December 2024.
Many users praised the move, saying they eagerly await the upcoming disclosure. Others, though, were not so optimistic, claiming this is yet another delay tactic that will not be followed by an actual effort.
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