About the Pi Network Mainnet Phase

Pi Network is a mobile cryptocurrency project launched in 2019 by Stanford University graduates. Pi Network is currently progressing towards the mainnet phase, and reached an important deadline for KYC and mainnet migration on March 14, 2025 (Pi Day). The migration to the mainnet began in 2021 as the “Enclosed Mainnet” and is proceeding in stages.

In this phase, users (Pioneers) who have completed KYC (Know Your Customer) verification and migrated their coins to the mainnet can now conduct transactions and barters (exchanges) using their Pi coins. Pi Network adopts the Stellar Consensus Protocol (SCP) and features a low-energy consumption mining method on mobile devices.

Changes to Pi Balance Preview

Many Pioneers have noticed changes in their Pi wallet balance preview. It has been widely reported that balances previously displayed as coins eligible for mainnet migration have been moved to the “Unverified Balance”.

↑The administrator also experienced a similar phenomenon, but it returned to normal on the evening of the 15th.

This is part of the calculation process by the Pi Core Team, implemented to accurately determine which coins are eligible for mainnet migration. The Pi Core Team set the final deadline for KYC and mainnet migration as March 14, 2025, at 8:00 AM (UTC), and notified that coins would be deleted if this date was passed. As a result, now that the deadline has passed, the deletion of the relevant coins is being executed.

Official Explanation from the Pi Core Team

According to the official statement from the Pi Core Team, the changes in the displayed balance are related to the calculation of bonus rewards earned through the contributions of members in the referral team (referrer network) and security circle (security network).

“Final Notice: The grace period requires completing KYC and Mainnet migration by March 14, 2025, at 8:00 AM UTC, otherwise you will lose a significant portion of your Pi. You will lose all Pi mined except for the Pi mined in the last 6 months prior to your Pi being migrated.”

Important Point: If members of the referral team or security circle missed the grace period deadline, the mobile bonus balance associated with their contributions will also be lost. Currently, the Pi Core Team has completed the final calculation of coins migrated to the mainnet and coins deleted, in accordance with the deadline.

Patterns of Affected Accounts

Pattern 1: Pioneers with Incomplete KYC & Unmigrated to Mainnet

Coins of Pioneers who have not completed KYC verification and have not migrated to the mainnet have been deleted. This rule applies even if their upline (referrer) has completed KYC verification and migrated to the mainnet.

In many cases, examples of thousands of Pi coins being deleted have been reported. Such measures were taken to maintain the health of the Pi Network ecosystem.

Pattern 2: Pioneers with Completed KYC but Unmigrated to Mainnet

For Pioneers who completed KYC verification but have not yet migrated to the mainnet, only the mining amount from the last 6 months prior to mainnet migration was calculated. It is important to note that even with a long mining history, only the last 6 months were considered.

For example, even if mining continued for several years, only the amount mined in the 6 months prior to mainnet migration became valid, and the mining amount from before that was deleted. In actual cases, there are reports of 1,576 Pi being deleted, with only about 13.04 Pi remaining as unverified balance.

Pattern 3: Pioneers with Completed KYC & Migrated to Mainnet (Referrals with Incomplete KYC)

Even for Pioneers who completed KYC verification and migrated to the mainnet, if their referral members did not complete KYC verification, the bonus reward portion from those referrals was deleted.

As an example, even if one correctly completed KYC verification and migrated to the mainnet, if the referred members did not complete KYC verification, cases of as much as 9,683.4 Pi in bonuses being deleted have been reported.

Pattern 4: Pioneers Who Missed the Grace Period

For Pioneers who did not complete KYC verification and also missed the set grace period, the majority of their mined Pi coins have been deleted. In actual examples, even with a mining history of over 584 Pi, there are cases where only about 1.01 Pi remains as unverified balance.

Current Status and Impact of Pi Network

As of December 20, 2024, over 18 million users had completed the KYC process, and approximately 8 million users had migrated to the mainnet. While the latest data since then has not been released, the gap in the number of migrants was a challenge. After the deadline passed, concerns about the value of Pi spread in some communities, reportedly affecting market expectations. However, since Pi coin is not currently officially traded, price fluctuations remain unofficial speculation.

March 14 is Pi Day (a day named after π = 3.14) and holds special significance for Pi Network. Pi Network was launched on March 14, 2019. It is thought that setting the final deadline to coincide with this day also had symbolic meaning.

Pi Core Team’s Efforts and Their Significance

These changes indicate that the Pi Core Team is applying strict rules to maintain the health and reliability of the mainnet. By carefully calculating which coins can be migrated to the mainnet and which should be deleted, and processing them appropriately, they are trying to ensure the long-term success of the project.

This initiative not only has the negative aspect of simply deleting coins but also has the important purpose of protecting legitimate users and preserving the value of the Pi Network ecosystem.

Future Actions: What Pioneers Should Do

Pioneers with Incomplete KYC

Unfortunately, if you missed the KYC deadline of March 14, 2025, the majority of your mined coins have already been deleted. However, only the mining amount from the last 6 months will be retained. While keeping a close eye on the future developments of Pi Network, we recommend promptly undertaking KYC verification if another opportunity arises.

Pioneers with Completed KYC but Unmigrated to Mainnet

For those who completed KYC verification but did not migrate to the mainnet in time, only the mined coins from the last 6 months remain. It is important to complete the mainnet migration procedure as soon as possible.

Pioneers with a Referral Network

It has become clear that the status of referral and security circle members affects your bonus rewards. In the future, when introducing new members, it is important to explain the importance of KYC verification and mainnet migration and ask for their cooperation.

Summary: The Future and Outlook of Pi Network

With the opening of the mainnet, Pi Network has taken important measures to maintain the health of its ecosystem. KYC verification and migration to the mainnet are essential steps to preserve the value of Pi coins.

These measures to protect legitimate users and ensure the long-term success of the project enhance the credibility of Pi Network as a cryptocurrency project. By continuing to pay attention to the development of Pi Network and properly completing the necessary procedures, you will be able to continue participating as a member of this project.

• Always check the latest official announcements
• Actively exchange information with the community
• Pay attention to future developments and updates
• Participate in application development and usage within the Pi ecosystem