In recent years, Pi Network has attracted attention as many users can easily earn cryptocurrency from their smartphones. However, this network has a deadline called the Grace Period, and if you do not complete KYC (identity verification) and Mainnet migration within this deadline, there is a risk of losing the Pi coins you mined and referral bonuses. Here, we explain the important points to keep in mind for safely and effectively utilizing Pi Network.

What is the Grace Period?

The Grace Period in Pi Network is a grace period provided for users to complete KYC and migration to the Mainnet. If you do not complete the procedures within this period, in many cases, most of the Pi you have mined so far and referral team bonuses may expire.

Procedures must be completed by January 31, 2025, and a countdown timer is installed within the Pi Network app to clearly notify you of the remaining time.

Why is KYC for Referral Teams Important?

Pi Network has a system called referral bonus. This is a mechanism where a certain percentage is added to the basic mining rate when you and someone who registered using your referral code mine simultaneously. However, if the referred party has not completed KYC and Mainnet migration, that bonus cannot be officially received.

If the friend you referred does not pass KYC or migrate to the Mainnet, there is a risk that you will not be able to receive your bonus Pi either.

In other words, even if you continue mining and increase your Pi coin balance, the referral bonus portion depends on the procedure status of your referral members. Only when both the referrer and the referred user complete KYC and Mainnet migration by the deadline can they secure the Pi, including the bonus amount.

Specific Steps for KYC and Mainnet Migration

To perform KYC and migration to the Mainnet on Pi Network, you mainly follow these steps:

• Apply for KYC from the Pi Network app: Submit government-issued identification documents, etc., to verify your identity.
• Waiting for verification: If there are no issues with the documents or submitted content, it will be approved by the Pi Network review team or automated verification system.
• Mainnet migration: Once KYC is approved, complete the Mainnet migration procedure within the app.
• Migrate Bonus Pi: When your referral team members also complete KYC and migration, your bonus Pi will also be activated.

How to Send Reminders to Your Referral Team

Pi Network provides a function to directly remind members of your referral team. By tapping the “Remind KYC Team” button within the app, you can send notifications to members and encourage them to complete KYC and Mainnet migration. In some cases, it is also possible to contact them in conjunction with social media or chat apps (such as WhatsApp or Telegram).

By helping your referral members actively use Pi Network and proceed with the procedures in this way, you can reliably earn your referral bonus Pi.

Risks of Missing the Deadline

If the deadline of January 31, 2025, is missed, a large portion of the referral bonus Pi may expire. Furthermore, users who have not completed KYC themselves risk being in a situation where they cannot freely use their Pi on the Mainnet. This is also a measure to maintain the overall security and health of the Pi Network, so in a sense, it is inevitable.

What to Do During the Grace Period

The actions to take within the Grace Period are as follows:

• Check your own KYC status: If you haven’t submitted yet, apply immediately.
• Notify referral members: Check the KYC status of members and urge them to take action promptly if they haven’t completed it.
• Reconfirm account information: Verify that your name, identification documents, etc., are entered correctly.

Benefits the Pi Network Community Gains from Completing KYC

By passing KYC and completing Mainnet migration, you gain the following benefits:

• Increased transaction freedom: There is potential for expansion in purchasing goods and using services with Pi in the future.
• Acquisition of Bonus Pi: The referral bonus amount can be fully reflected.
• Improved network reliability: The exclusion of fraudulent accounts increases the credibility of the community.

Summary: Early Action is Key

Some people may have the impression that KYC and Mainnet migration are “troublesome”. However, since there is a possibility that bonus Pi will expire if the deadline is missed, taking early action is important. Especially for users who have built a referral team, understanding the status of all members and sending reminders is the key to maximizing bonuses.

To benefit from the future cryptocurrency ecosystem by utilizing Pi Network, be sure to take proper measures and complete KYC and Mainnet migration by January 31, 2025.

Continue to check the latest information on Pi Network and enjoy a safer and more convenient cryptocurrency life.