As of February 2025, the Pi Network has surpassed 10 million migrated accounts in the Closed Mainnet phase. This significant development allows users who have passed KYC (Know Your Customer) to use the Pi coins migrated to their wallets for transactions and bartering.
What is the Closed Mainnet?
The Closed Mainnet is a crucial phase in the evolution of the Pi Network. In this stage, while full connection with external networks is restricted, transactions between users and activities within the ecosystem are possible. This is gradually increasing the utility and reliability of Pi coins.
Migrated Accounts Exceed 10 Million
According to Pi Network data, the number of migrated accounts has reached 10,001,307. This figure includes accounts from the Core Team. Furthermore, the number of general user accounts, referred to as ‘Pioneers’, is reported to be approximately 9 million.
KYC Passage and Migration to Wallet
Users who have passed KYC can migrate their Pi coins to their wallets and subsequently use them for transactions and within the ecosystem. This is invigorating economic activity within the Pi Network.
Counting down since morning
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About ‘Locked Pi’ and ‘Unlocked Pi’
The following terms are used in the Pi Network:
- Locked Pi: Coins that are locked on the blockchain for a certain period (e.g., 1 year, 2 years, 3 years).
- Unlocked Pi: Coins that become available after the lock-up period ends.
- Unclaimed Pi: May expire if not claimed within 1 year after being unlocked.
A point requiring particular attention is the risk of ‘Unclaimed Pi’ expiring. Users are encouraged to notify their referrals and members within their security circles and urge them to complete the claim process promptly.
Conditions for Open Mainnet
Currently, for the Pi Network to transition to the Open Mainnet, the following two conditions must be met:
- Migration by users who have passed KYC.
- 100 practical Pi applications (currently 80).
By meeting these conditions, full connection with external networks will become possible, and the entire Pi ecosystem is expected to expand further.
Ecosystem and Future Outlook
As of now, over 198 million Pi coins have been locked, suggesting that many users are anticipating long-term value appreciation. Furthermore, efforts are underway within the ecosystem to achieve 100 practical applications.
As these developments show, the Pi Network is steadily growing and attracting attention from many users and developers. Let’s continue to check for updates and explore new possibilities.
Summary
In this article, we explained the latest information on the Pi Network, including the milestone of 10 million migrated accounts and details about ‘Locked Pi’ and ‘Unlocked Pi’. The conditions for transitioning to the Open Mainnet are also becoming clearer, generating much anticipation. Let’s continue to follow the latest information and watch this unique project!