In Pi Network, the Pi coins held by users are managed in three different states. This article provides a detailed explanation of the particularly important “Unverified Balance” and describes the process for converting it to a Transferable Balance.

3 Balance Types in Pi Network

Pi Network has the following three types of balances:

• Unverified Balance
• Transferable Balance
• Migrated Balance (Migrated to Mainnet)

About Unverified Balance

Unverified Balance refers to Pi coins that are in a state where KYC (Identity Verification) has not been completed. This balance occurs in the following situations:

• Pi coins earned through mining
• Pi coins obtained through referral rewards
• Rewards from the Security Circle

Details of the Mainnet Checklist

Completing the Mainnet Checklist is essential for converting to a Transferable Balance. Key requirements include:

• Submission of identity verification documents
• Phone number verification
• Formation of a Security Circle
• Initial wallet setup

Conditions for Converting to Transferable Balance

To convert Unverified Balance to Transferable Balance, the following conditions must be met[5]:

• Completion of KYC (Identity Verification)
• Completion of all items on the Mainnet Checklist
• 30 days of continuous app usage

Characteristics of Transferable Balance

Transferable Balance refers to Pi coins that are in a state where the following operations are possible:

• Transfer between wallets
• Migration to exchanges
• Transactions with other users

Relationship between Referral System and Balance

In the referral system, rewards obtained from referrers are managed as follows:

• Until the referrer completes KYC, the rewards remain in the Unverified Balance
• The mining rate depends on the referrer’s app usage status
• If the referrer deletes the app, the mining rate may decrease

Optimizing the Mining Rate

To maintain and improve the mining rate, the following points should be noted:

• Referrers need to use the app continuously
• Regularly check the activity status of Security Circle members
• Consider replacing inactive members

Best Practices for Balance Management

For efficient balance management, pay attention to the following points:

• Continue using the app regularly
• Complete the KYC application early
• Check the KYC status of Security Circle members

Common Precautions and Countermeasures

To effectively utilize Pi Network, pay attention to the following points:

• Select only reliable referrers
• Check for regular app updates
• Regularly review security settings
• Comply with community guidelines

Future Developments and Notes

With the development of Pi Network, the following points should be kept in mind:

• Regular review of terms and policies
• Checking for new feature update information
• Gathering the latest information from the community