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Uncovering the True Value of Pi Network: A Comprehensive Analysis from Multiple Perspectives

In today’s volatile financial markets, cryptocurrencies are rapidly establishing themselves as a new asset class. The massive influx of funds into Bitcoin spot ETFs, in particular, is driving overall market activity and fueling expectations of a major bull market (uptrend) for many altcoins (Alternative Coins).

Within this dynamic market environment, where does Pi Network stand, known for its easy smartphone mining? This article provides a comprehensive analysis of its price trends, community growth, and criticisms of the project’s technical aspects and operations from multiple perspectives.

This article aims to build a solid foundation for a deep understanding of Pi Network’s current state and an objective assessment of its future prospects.

Pi Network’s Latest Trends and Data Analysis: Significance of Over 15 Million Wallets

Let’s begin by examining Pi Network’s current market position and the underlying data.

Current Market Price and Market Cap Ranking

Pi Network is not yet officially listed on major cryptocurrency exchanges. Therefore, a conventional “market price” or “market cap ranking” does not exist. However, some exchanges trade it as an “IOU (I Owe You)” token, anticipating Pi’s future value, which reportedly hovers around $0.40 at the time of writing.

This should be considered a reference value if a full mainnet migration and listing are realized. While some sources mention a drop to “31st in market capitalization,” this is likely based on unofficial IOU token data or a past, specific evaluation metric.

Positive Signs from Pi Network’s Wallet Growth (Over 15 Million)

Despite the low price, Pi Network shows a significant positive trend: the number of wallets created for storing Pi has exceeded 15 million. Unlike simple app downloads, this signifies the number of users prepared or already migrated their Pi to the mainnet, strongly suggesting solid project progress and community growth.

The increase in wallet numbers also reflects Pi Network’s steady progress in “migration” (the process of moving Pi from the testnet to the mainnet). However, the continued “lockup” (a mechanism preventing users from withdrawing their Pi for a certain period) limits the amount of Pi circulating in the market.

The Context of Expectations and Predictions: Bitcoin and Altcoin Market Trends

Understanding Pi Network requires understanding broader cryptocurrency market trends.

PlanB’s Bitcoin Price Prediction and Its Credibility

The prominent analyst PlanB is known for his Bitcoin price predictions. He claims his 2023 Bitcoin prediction was accurate and predicts a range of $500,000 (approximately ¥75 million), or even $250,000 to $1,000,000 (approximately ¥37.5 million to ¥150 million), in the current cycle.

While PlanB’s predictions significantly influence the market, their model and accuracy remain debated. He has revised predictions in the past, and his statements include caveats emphasizing uncertainty.

Major Altcoin Price Trends and Market Impact

The overall cryptocurrency market is currently on an uptrend. Bitcoin is trading above $117,000, Ethereum at around $2,940, showcasing strong performance among major cryptocurrencies.

The significant rise of altcoins like Stellar Lumens (XLM) and Ripple (XRP) is particularly noteworthy. This suggests a new influx of capital into the market and the potential for a major bull market. Historically, Bitcoin’s rise often drives the overall altcoin market.

How much will Bitcoin’s price increase contribute to Pi Network’s value appreciation?

This depends on Pi Network’s post-mainnet ecosystem and market reception. While the overall market trend may be favorable, Pi’s intrinsic value and utility will ultimately be key.

Multiple Perspectives on Pi Network: Expectations, Reality, and Criticisms

Pi Network generates considerable anticipation due to its unique mining method and large community. However, it also faces criticism regarding its technological aspects and operational policies. Let’s objectively consider these diverse viewpoints.

The Possibility of “GCV $314,159” and Realistic Considerations

Within the Pi Network community, the concept of “GCV (Global Consensus Value)” is discussed, with a remarkable target price of $314,159 per Pi. This number derives from the mathematical constant π (pi) and symbolizes the network’s aim for a globally consensual value.

Considering the current IOU price and market environment, this GCV is an extremely ambitious goal and should currently be viewed as a “possibility.” Realizing this value requires the Pi ecosystem’s practicality, widespread adoption, and market understanding and acceptance.

Criticisms of Pi Network’s Technology and Operations: Open-Source Usage and KYC/Migration Challenges

Some critics point to Pi Network’s limited proprietary technology and reliance on existing open-source technologies (e.g., the Stellar Lumens protocol), arguing a lack of “technological advancement.” While utilizing open-source technologies is common in blockchain projects, improving efficiency and security, Pi Network’s unique innovation will be demonstrated through future ecosystem development.

Furthermore, delays in KYC (Know Your Customer) and migration progress are widely recognized issues within the community. Many users await mainnet migration, and these delays raise concerns about project reliability and future prospects.

Additionally, there are criticisms about Pi Network’s management system which seems to “collect” or “restrict” users’ Pi with each update, such as domain acquisition and lockup. This likely aims to prevent excessive Pi release into the market and maintain long-term value, but it also restricts users’ free trading.

Challenges of Long-Term Projects: Lessons from Ripple (XRP)

Projects like Pi Network, developed over an extended period, face a gap between market expectations and reality. For instance, Ripple (XRP), despite its long history, strong community, and practical use cases, has seen a prolonged price stagnation.

This suggests that, regardless of project maturity and scale, regulatory environments, market trends, and above all, “demand based on practicality” significantly influence price formation. For Pi Network, providing practical value after mainnet migration and gaining market acceptance are crucial factors determining its future.

Forecasting Pi Network’s Future: Future Prospects and Perspectives for Pioneers

Today’s cryptocurrency market is undergoing a significant transition due to new capital inflows and technological advancements. This presents potential opportunities for Pi Network.

Pi Network’s Potential Positioning in the Current Market Environment

Bitcoin spot ETF participation by institutional investors improves the overall cryptocurrency market’s reliability and liquidity. Riding this “major bull market” wave could provide Pi Network with opportunities to acquire new users and expand its ecosystem. A large user base can be a strong foundation for building new applications and services.

Speculation Regarding “New Announcements in July” and Their Credibility

Some speculate about “important announcements from Pi Network at the end of July.” However, the content and credibility are unclear, remaining mere “rumors.” Instead of reacting to unconfirmed information, it’s crucial to await official announcements from the Core Team.

Importance of Project Transparency and Community Collaboration

For long-term success, Pi Network must improve transparency, clearly communicating development progress and challenges to the community. Actively incorporating feedback from users (“Pioneers”) and collaboratively building the ecosystem will enhance the project’s reliability and sustainability.

Can Pi Network establish true value in these turbulent times?

The answer depends on Pi Network’s ability to move beyond a simple mining project, provide users with practical value, and play a vital role in blockchain technology’s societal integration.

Conclusion: Pi Network and the Path to the Future

Pi Network boasts unique strengths: easy smartphone mining and a massive user base. However, it also faces challenges: unlisting on major exchanges, KYC/migration progress, and criticism of its technological aspects.

The current bullish cryptocurrency market trend could be favorable for Pi Network, but its true value will ultimately be determined by its utility for users, ecosystem expansion, and transparent operations. While hopeful projections like GCV are inspiring, a realistic perspective and continuous information gathering are essential for Pioneers.

Pi Network is still a developing project with uncertainties, but its potential cannot be denied. The key is to avoid emotional decisions and always base your actions on objective information.

Let’s continue to monitor Pi Network’s progress and learn together as it evolves. We sincerely hope all Pioneers and contributors to the Pi Network ecosystem take another step towards the future.

For a deeper understanding of Pi Network, we recommend referring to the official website and whitepaper and performing your own multifaceted analysis.

Pi Network Mainnet Migration Checklist: 8 Steps to Activate Your Pi

Pi Network has captivated millions of Pioneers worldwide as a groundbreaking cryptocurrency project allowing easy mining from smartphones. A common question among users is: “How can I actually use the Pi I’ve mined?”

The answer lies in the final stage of Pi Network: migration to the mainnet. A crucial tool for this smooth transition is the “Pi Network Mainnet Migration Checklist.” This article provides a detailed explanation of each step, ensuring you have a solid foundation for utilizing your Pi.

Understanding the Pi Network Mainnet Migration Checklist and Its Importance

This section explains what the Pi Network mainnet is and why this migration process is crucial. By the end, the significance of the checklist and the vision behind Pi Network will be clear.

What is Pi’s “Mainnet?”

In blockchain technology, the mainnet is the production environment where cryptocurrency transactions and applications operate. Unlike the “testnet” (testing environment), transactions on the mainnet have real-world value.

Pi Network is currently in a phase called the “Enclosed Mainnet.” This period facilitates Pi usage within the Pi ecosystem before direct exchange with external blockchains or fiat currencies. Pioneers who complete mainnet migration can transfer their Pi to a Pi Wallet and use it to purchase goods and services within this enclosed ecosystem.

Checklist Purpose and Overview

The mainnet migration checklist outlines the process of transforming your mined Pi into “transferable Pi balance” ready for mainnet migration.

This checklist consists of eight main steps. Completing step 7 prepares your transferable Pi balance for the mainnet migration queue. Following each step ensures a smooth transition and participation in the Pi ecosystem.

Accessing the Mainnet Migration Checklist

This section explains how to access the mainnet migration checklist through the Pi app, allowing you to check your migration status and proceed to the next steps.

  • Tap the “Mainnet Info” shortcut in the bottom right corner of the Pi app’s home screen.
  • Alternatively, tap the hamburger menu icon (three lines) in the top left corner to open the Pi menu, select “Mainnet,” and then tap “Mainnet Checklist.”

Either method will lead you to the checklist page.

Pi Network Mainnet Migration Checklist: 8 Steps Explained

This section details the eight steps required to complete the mainnet migration. Understand the significance and specific actions of each step to ensure a successful migration.

Step 1: Download the Pi Browser App

Pi Browser is the core Web3.0 browser for the Pi ecosystem. Key Pi apps, including the Pi Wallet and Pi KYC, are accessible through Pi Browser, serving as the access point to the Pi ecosystem. Download the Pi Browser app from the App Store (iOS) or Google Play Store (Android) if you haven’t already.

This app will be used to utilize goods and services with Pi and access decentralized applications (dApps) linked to the Pi mainnet in the future.

Step 2: Create a Pi Wallet

The Pi Wallet is a digital wallet for storing your migrated Pi. Pi Network uses a “Non-Custodial Wallet,” meaning you manage your assets.

A non-custodial wallet means Pi Network doesn’t store your wallet passphrase (private key); you are responsible. This enhances security as only you can access your Pi. The official Pi Network YouTube channel provides detailed tutorial videos on creating and using a Pi Wallet.

Step 3: Approve Your Pi Wallet

This crucial step confirms you know your Pi Wallet passphrase. You’ll re-enter it for approval.

Losing your passphrase means losing all your Pi. Pi Network doesn’t record your passphrase; it cannot be recovered if lost. Store it securely and confidentially.

Step 4: Finalize Your Lockup Settings

Finalizing Pi lockup settings allows for higher mining rates before mainnet migration. Lockup supports healthy ecosystem growth and encourages long-term contributions.

Lockup Mechanism:

  • Longer lockup periods and higher Pi percentages result in higher mining rewards.
  • This reward is a crucial decentralized macroeconomic mechanism in the initial stages of ecosystem launch and demand creation.
  • Lockup is optional, but you must finalize your initial settings to complete step 4.
  • Once finalized, lockup settings (amount and duration) cannot be changed (reduced) until your first mainnet migration is complete.

After the first mainnet migration, your previous lockup settings are automatically applied for subsequent migrations. However, you can adjust the settings between mainnet migrations. These changes apply to future migrations and don’t affect already migrated lockups.

For more detailed information on Pi lockup rewards, refer to the updated chapter in the whitepaper released on December 28, 2021.

Step 5: Submit Your KYC Application

KYC (Know Your Customer) verifies that Pioneers are real individuals, meeting regulatory requirements. This prevents fraud and multiple accounts, maintaining network integrity.

The Pi KYC app within Pi Browser uses a decentralized solution combining automated machine processes and human verification through crowdsourcing from Pioneers worldwide. This makes KYC scalable and cost-effective. Submit your Pi KYC application when a slot becomes available. Currently, slots are open for a majority of the network, with the remainder to receive invitations as work progresses.

Step 6: Await KYC Results

This step is complete upon successful KYC application approval.

In rare cases, additional network checks just before mainnet migration might revert your verified status to unverified. If this happens, you might be offered re-application options. Regularly check your KYC application status and next steps in the Pi KYC app. KYC-approved Pioneers can apply to be KYC validators. While not mandatory for mainnet migration, this contributes to the scaling and speed of the overall KYC solution, and the work is rewarded in Pi.

Step 7: Approve Mainnet Migration

Completing all previous steps allows you to add your transferable Pi balance to the mainnet migration queue. This involves using your Pi Wallet passphrase to execute an approval document. This passphrase must be the same as in Step 3.

If you can’t access your current passphrase or want to change your wallet, repeat steps 2 and 3 to create and approve a new wallet, then re-confirm the new wallet passphrase in step 7.

Completing step 7 queues your transferable Pi balance for transfer to your mainnet Pi Wallet address (this is the mainnet migration), unless your KYC-approved status is revoked due to pre-migration checks.

Step 8: Await Mainnet Migration Completion

After queuing, a 14-day holding period exists before your Pi balance reflects in your mainnet wallet. During this period, Pioneers cannot use their mainnet Pi balance for transfers.

This holding period allows the network to perform additional checks and corrections, ensuring secure transfers. After the holding period, Pioneers can freely use their Pi within the current enclosed Pi mainnet.

Post-Mainnet Migration Outlook and Usage

Pioneers who have completed the checklist and migrated their Pi balance to their Pi Wallet can begin participating in the Pi ecosystem. In the enclosed mainnet, you can use Pi to buy various goods and services and use Pi-based Web3.0 applications.

This marks a significant step in Pi Network’s evolution from a mobile mining app to a functional blockchain ecosystem with actual value exchange. As the Pi ecosystem grows, more utility will emerge, expanding Pi’s value and usage.

Conclusion: Act Now for the Future of Pi Network

Since its inception, Pi Network has shown remarkable growth in scale and enthusiasm. The start of mainnet migration and the development of a fully functional and thriving ecosystem on the mainnet blockchain is a great achievement for the Pi Network development team.

Completing this mainnet migration checklist is crucial for all Pioneers to activate their Pi. Use the knowledge gained in this article to complete the checklist and contribute to the future development of Pi Network. For further learning, regularly check the official Pi Network whitepaper, updates within the Pi app, and official announcements.

11 Common Pi Network KYC Problems & Solutions: From Pending Approval to Wallet Migration

# 11 Common Pi Network KYC Problems & Solutions: From Pending Approval to Wallet Migration

Are you a Pi Network user facing hurdles in the KYC (Know Your Customer) process? Experiencing prolonged pending approvals, Pi coin delivery issues to your wallet after approval, or a locked wallet? You’re not alone.

This article addresses 11 specific KYC problems many Pi Network users encounter, providing reliable, practical solutions for each. Consider this your roadmap to navigating KYC challenges and successfully joining the Pi Network ecosystem and migrating your Pi coins to the mainnet.

## Pi Network KYC: 11 Common Problems and Solutions

Pi Network’s KYC process is crucial for network security and fairness. However, it can be complex, leading to confusion and frustration. Here are 11 frequently reported issues and how to address them:

1. **KYC Application Stuck in ‘Pending Approval’ for Weeks or Months**

“My KYC application has been ‘pending’ for weeks or months.” This is a common concern. Some users report waiting for weeks, months, or even longer.

**Why the Delay?**
* **Community Validator Dependency:** Pi Network’s KYC relies on community validators. Validator availability and regional verification capacity are limited, causing application backlogs.
* **Backlogs:** New user influxes and system updates can create temporary backlogs.
* **Manual Verification:** Some cases require manual review, increasing processing time.

**Solutions:**
* **Avoid Resubmissions/Deletions:** Repeated submissions or deletions can worsen delays.
* **Regular App Updates & Checks:** Keep your Pi Network app updated and check your KYC status regularly.
* **Patience:** Many users report approval after prolonged waiting; it’s likely a processing backlog.
* **Check Official Announcements:** Monitor official channels (in-app notifications, social media) for updates.

This delay usually stems from system backlogs, not user error. Remain calm and patient.

2. **Mainnet Checklist Step 9 Remains Orange After KYC Approval**

Even after KYC approval, Mainnet Checklist Step 9 might remain orange. This can be misleading.

**Why is Step 9 Orange?**
* **Wallet Connection Issues:** Step 9 reflects not only KYC approval but also your Pi wallet’s connection to your Pi Network account. An issue here keeps it orange.
* **Synchronization Delays:** A delay may occur after KYC approval as the system synchronizes information.

**Solutions:**
* **Verify Account Login:** Ensure you’re logged into the correct Pi account if you have multiple accounts.
* **Verify Wallet Connection:** Open Pi Browser to confirm your wallet’s creation and connection to your account. Check if the wallet address matches Steps 3 and 9.
* **Try Re-login:** Logging out and back in may trigger synchronization.
* **Wait:** This usually resolves itself over time.

3. **Pi Coins Not Migrating to Mainnet After KYC Approval**

KYC approval doesn’t automatically migrate Pi coins. It’s a separate, complex process.

**Why the Delay?**
* **KYC and Coin Migration are Separate:** KYC proves your identity; coin migration is a different process.
* **Incomplete Mainnet Checklist:** Complete all Mainnet Checklist steps (wallet creation, passphrase storage, lockup settings).
* **Batch Processing System:** Mainnet migration happens in batches for efficiency.
* **Lockup Period:** Locked Pi coins won’t migrate until the lockup period ends.

**Solutions:**
* **Thoroughly Check the Mainnet Checklist:** Ensure all steps are green, especially Steps 3 (wallet creation) and 9 (wallet verification).
* **Verify Wallet Settings:** Ensure your wallet is correctly set up and your passphrase is securely stored.
* **Wait:** Migration takes time; it may take days or weeks.
* **Update App/Re-login:** Update your app and try re-logging in.

Your Pi coins won’t be lost. It’s likely a delay.

4. **KYC Rejection Due to Name Changes or ID Discrepancies**

Discrepancies between your ID and Pi account name (e.g., marriage name change, spelling differences) frequently cause rejections.

**Why are Discrepancies Problematic?**
* **Strict Automated Checks:** The KYC process uses automated ID scanning and facial recognition; even minor discrepancies trigger rejections.
* **Fraud Prevention:** Strict name matching prevents fraudulent accounts.

**Solutions:**
* **Prepare Official Documentation:** Provide official documents (marriage certificate, etc.) for name changes.
* **Submit Through the KYC Appeal Section:** Use the appeal section, attaching updated ID and proof of name change, with a concise explanation.
* **Update Account Name:** Update your Pi account profile to match your official ID before applying.
* **Avoid Creating New Accounts:** Don’t create a new account; this violates Pi Network policy.

Manual validator appeals have succeeded. Provide clear evidence and be patient.

5. **”Application Limit Reached” Message**

This message indicates temporary resource limitations or congestion.

**Why Can’t You Apply?**
* **Temporary Application Limits:** Pi Network limits concurrent applications for stability.
* **System Maintenance:** Maintenance may temporarily halt applications.

**Solutions:**
* **Try Again Later:** Check back periodically; application slots are regularly updated.
* **Check Official Announcements:** Look for announcements regarding application slots or system maintenance.

This is usually temporary.

6. **Locked or Inaccessible Wallet After KYC Approval**

This prevents Pi coin access and transfers.

**Why is the Wallet Locked?**
* **Synchronization Issues:** There may be delays or issues between the KYC and wallet systems.
* **Security Measures:** Suspicious activity may temporarily restrict wallet functionality.

**Solutions:**
* **Check Pi Browser:** Ensure Pi Browser is updated and launched correctly from the Pi app.
* **Reload Wallet:** Reload the wallet page in Pi Browser or restart the browser app.
* **Restart Your Device:** Restart your smartphone or PC.
* **Wait:** If issues persist, wait a few hours or a day.

7. **Repeated “Upload Errors” When Submitting Documents**

This prevents document uploads.

**Why Upload Errors?**
* **Unstable Network Connection:** Unstable Wi-Fi or mobile data leads to upload errors.
* **File Format/Size Issues:** Unsupported file formats or oversized images cause errors.
* **Server Load:** High server load may cause delays or errors.

**Solutions:**
* **Stable Network:** Use a stable Wi-Fi connection.
* **Check Image Files:** Use supported formats (JPEG, PNG) and appropriate sizes; resize if needed.
* **Restart App/Change Device:** Restart the Pi app or try a different device.
* **Change Time of Day:** Try applying during off-peak hours.

8. **Mismatched Wallet Addresses in Mainnet Checklist Steps 3 and 9**

This impacts Pi coin migration.

**Why the Mismatch?**
* **Incorrect Wallet Connection:** This happens with multiple wallets or when using a different wallet than the one linked to your account.
* **System Display Bug:** A rare possibility is a temporary display issue or synchronization delay.

**Solutions:**
* **Verify Wallet Address:** Carefully compare the wallet address in Pi Browser with the addresses in Steps 3 and 9.
* **Verify Correct Wallet Connection:** Ensure the correct wallet is linked to your Pi Network account.
* **Contact Official Support:** If problems persist, report the issue to Pi Network’s official support.

9. **Disabled Transfer Function After KYC Approval**

KYC approval doesn’t mean immediate transfer capability. Further conditions must be met.

**Why is the Transfer Function Unavailable?**
* **Ongoing Mainnet Migration:** The transfer function becomes active upon full mainnet migration.
* **Batch Processing Delays:** Your Pi coins may not yet be “available” due to batch processing.
* **Lockup Period:** You can’t transfer locked Pi coins.

**Solutions:**
* **Final Mainnet Checklist Check:** Verify all steps are completed (especially Steps 7 and 8 related to mainnet migration).
* **Verify Pi Coins in Wallet:** Check your Pi Browser wallet for available Pi coin balance.
* **Wait:** Many functions are available only after complete mainnet migration.

The source suggests the function isn’t actually disabled; it’s likely a misunderstanding or a temporary unavailability.

10. **Lost or Returned Pi Coins After KYC Completion**

This is a panic-inducing situation.

**Why the Apparent Loss?**
* **Temporary Display Issues:** Wallet synchronization issues or app bugs may cause incorrect balance displays.
* **Incorrect Wallet Address:** You might be referencing the wrong wallet or confusing multiple wallets.
* **System Processing:** In rare cases, coins may be temporarily held or returned to a specific wallet due to issues like fraud detection, but this is extremely rare.

**Solutions:**
* **Re-verify Wallet Address:** Check your Pi wallet’s address in Pi Browser and its transaction history.
* **Restart the Pi Network App:** A restart might resolve display issues.
* **Check Pi Network Official Announcements:** Check for information on large-scale system changes or known bugs.
* **Contact Official Support:** Contact Pi Network support if problems persist.

Your Pi coins are unlikely to be permanently lost after KYC completion. It is most often a temporary display issue or a temporary state during system processing.

11. **KYC Completed on the Wrong Pi Account**

Completing KYC on the wrong account leaves your intended wallet empty.

**Why is the Wallet Empty?**
* **Account/Wallet Mismatch:** The KYC-completed account doesn’t match the account holding your Pi coins.
* **Multiple Account KYC Attempts:** Pi Network policy generally allows one account per person. Attempting KYC on multiple accounts can cause issues.

**Solutions:**
* **Identify the KYC-Completed Account:** Pinpoint the account where KYC was completed.
* **Verify Wallet Link:** Check if the wallet linked to the KYC-completed account matches your Pi coin holding wallet.
* **Understanding the Truth:** An empty wallet likely means you’re using the wrong account’s wallet. Multiple account KYC attempts are problematic.

To avoid this, verify your account and wallet linkage and ensure you are using only your primary account before KYC.

## Conclusion: Patience and the Right Approach are Key to Pi Network KYC Success

Pi Network’s KYC process presents unique challenges due to its decentralized and community-driven nature. Many issues resolve through understanding the system and patience. By addressing the problems described here, you can ensure secure Pi Network use and smooth Pi coin migration to the mainnet. Act calmly, using accurate information; this is the surest path to full participation in the Pi Network ecosystem.

## Further Exploration of Pi Network: Using Reliable Information Sources

Information about Pi Network’s KYC and ecosystem is constantly updated. This article aims to help resolve your issues. For more details or the latest guidelines, consult Pi Network’s official website, official announcements, trustworthy community guidelines, and in-depth explanations from experts.

Latest Updates from Pi Network

Pi Network recently announced significant updates in preparation for its Mainnet migration.

## Key Changes

1. **Improved KYC Process**: The process has been streamlined to allow more users to complete KYC verification.

2. **New Wallet Features**: New security features have been added to the Pi Wallet, enabling users to manage their Pi more securely.

3. **Developer SDK Release**: An SDK has been released to make it easier for developers to build applications on the Pi platform.

## Future Outlook

These updates accelerate Pi Network’s preparations for ecosystem expansion and Mainnet launch.

May 14, 2025: Predicting the Full Scope of the Major Announcement! Binance Listing Rumors and the Future of KYC/Migration?

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The cryptocurrency project “Pi Network” is the talk of the town. It has gained many users because it allows easy mining on smartphones, and attention is further increasing due to information that a “major announcement” regarding the ecosystem is scheduled for May 14, 2025. In particular, there are many points of interest, such as rumors of listing on Binance, one of the world’s largest cryptocurrency exchanges, the progress of KYC (Know Your Customer), and the advancement of migration to the mainnet. This article provides a thorough prediction and explanation of Pi Network’s basics, latest trends, and what might be revealed in the upcoming announcement, based on objective information and presented in an easy-to-understand manner for those without specialized knowledge. If you’re wondering, “I’ve been hearing a lot about Pi Network lately, but what’s so great about it?” or “What will happen to Pi Network in the future?”, please read on to the end!

What Exactly is Pi Network? A Basic Explanation for Beginners

First, let’s review the basics: “What is Pi Network?” In this section, we will gently explain what kind of project Pi Network is, what it aims to achieve, and why it has attracted so many people, avoiding technical jargon.

Pi Network is a cryptocurrency project launched in 2019 by Dr. Nicolas Kokkalis and Chengdiao Fan, who hold PhDs from Stanford University. Its biggest feature is that anyone can easily “mine” their own cryptocurrency called Pi Coin using a smartphone app. Normally, cryptocurrency mining requires high-performance computers and specialized knowledge, but Pi Network aims to make this more accessible.

You might be concerned, “But won’t mining on a smartphone consume a lot of battery?” Pi Network does not use a mechanism like the computational competition adopted by Bitcoin (Proof of Work). Instead, it employs a unique consensus algorithm based on trust relationships among users (similar to the Stellar Consensus Protocol), aiming to secure the network while reducing energy consumption. This ease of use and the expansion of the community through referrals are some of the reasons why it has gained many users (“Pioneers”) worldwide.

Easy Mining on Your Smartphone? How Pi Network Works

The mechanism is simple: install the Pi Network app and tap it once a day to continue mining. This is like proof that you are contributing to the network’s activity. No complicated settings or operations are required, making it easy for those new to cryptocurrency to get started. Some people might feel uneasy because it seems too simple, but this is because Pi Network has the vision of “cryptocurrency accessible to everyone.”

Aiming for “Cryptocurrency for Everyone” – Its Vision and Potential

Pi Network’s big goal is to become a decentralized digital currency that can be used daily by more people, not just a few experts or investors like Bitcoin. The project team aims to build its own economic ecosystem where goods and services can be traded using Pi. If this is realized, the way we shop and send money might change.

Pi Network So Far: From Test Phase to Open Mainnet

Pi Network has gone through several development phases. Initially, it was operated on a testnet (a testing network) where functional improvements and security enhancements were made. There is also information that the “Open Mainnet,” a more serious operational phase, was launched on February 20, 2025. This is a crucial step for Pi Coin to connect with external wallets and exchanges and gain practical value. However, at present, completely free trading is not yet widespread, and the future development of the ecosystem is key.

Attention! May 14, 2025, What Will Be Announced? CoinDesk Event and Nicolas Kokkalis’s Appearance

Now, let’s get to the main topic. Pi Network has announced that it will make an important announcement regarding its ecosystem on the first day of “Consensus 2025” (hosted by CoinDesk), a global conference on cryptocurrency and blockchain technology, held in Toronto, Canada, from May 14 to 16, 2025. In this section, we will explore why this announcement is attracting attention and what can be expected from the appearance of Nicolas Kokkalis, one of the founders.

The fact that Pi Network is making an announcement at such a large-scale international event can be seen as a sign of the project’s confidence. Normally, Pi Network would report after a new feature was implemented, but this time, the fact that they are announcing a “major announcement” in advance is unusual and is raising expectations within the community.

What is “Consensus 2025”? A Major Event Watched by the World

“Consensus” is one of the world’s most influential events, bringing together leaders, developers, investors, and regulators in the cryptocurrency and blockchain industry. An announcement here has the potential to improve the project’s credibility and lead to new partnerships. What will Pi Network say on such a grand stage?

Why Announce in Advance? What is Pi Network’s Aim?

Several aims can be considered behind the decision to announce in advance. One is to increase community engagement and build anticipation. Another is to attract the attention of media, potential investors, and developers, further increasing the project’s recognition. It could be seen as a stepping stone to the next big phase.

What is the Future of Pi Network as Told by Founder Nicolas Kokkalis?

It has been reported that Nicolas Kokkalis, one of the founders of Pi Network, will speak at the event. It is possible that he will speak about Pi Network’s achievements so far and its specific future roadmap and vision. In particular, if he mentions the challenges the project is facing and how they plan to overcome them, the community’s trust will deepen further.

[Bold Prediction ①] Most Likely? Possibility and Basis for Listing on Binance

The most anticipated aspect of this announcement is the possibility of Pi Network being listed on Binance, one of the world’s largest cryptocurrency exchanges. If realized, it could significantly impact Pi Network’s value and recognition. In this section, we will organize the background and basis for the listing rumors, as well as the potential benefits and risks if it becomes a reality.

Listing on Binance is a major goal for many cryptocurrency projects. This is because Binance has many users worldwide and a very large trading volume, so listing on it can significantly improve the liquidity (ease of trading) of the cryptocurrency and have a significant impact on price formation. Furthermore, being listed on Binance, known for its strict screening criteria, can serve as proof of the project’s reliability itself.

Why the Rumors? What is the Connection to the XLM Blockchain? (Based on Source Information)

In the YouTube video that is the source of this information, reasons cited for the high possibility of Pi Network listing on Binance include past instances where “Pi was deposited into an XLM (Stellar) deposit address” and the fact that “the XLM and Pi blockchains are similar.” Furthermore, information that “there was testing activity related to Pi Network in Binance’s Stellar deposit wallet” has recently become a topic of discussion within the community. If these are true, it might suggest that some preparations are underway behind the scenes.

However, this information is currently just rumors and speculation. It is important to carefully evaluate the information until an official announcement is made.

What Happens if Binance Listing is Realized? Expected Benefits and Potential Risks

If Pi Network is listed on Binance, the following benefits can be expected:

  • Increased Pi Coin trading activity: More people will be able to buy and sell Pi Coin, increasing liquidity.
  • Potential for price increase: Generally, listing on a major exchange is often seen as a positive factor for the price.
  • Improved project credibility: Passing Binance’s screening increases confidence in the project.
  • Accelerated ecosystem expansion: Increased attention may lead more people to develop new services and applications (DApps) using Pi.

On the other hand, the following risks and points to note should also be considered:

  • Increased price volatility: Immediately after listing, the price may surge due to anticipation, but there is also a risk of a sharp drop due to profit-taking sales, etc.
  • Increase in speculative trading: Trading aimed at short-term price fluctuations, rather than the project’s intrinsic value, may increase.
  • Disappointment if expectations are not met: If the listing does not materialize or the price after listing does not rise as expected, disappointment may spread within the community.

The Future of Pi Coin: KYC Deadline Approaching! Explaining Binance Listing and Price Potential

Let’s Evaluate Calmly: The Boundary Between Official Information and Rumors at Present

As reiterated, information regarding Binance listing is currently not officially announced by Pi Network or Binance. Whether this point is mentioned in the May 14 announcement is one of the biggest focal points, but until then, it is important to follow the information calmly without being swayed by rumors. There is also information that Binance previously considered deciding the listing of Pi Coin through a community vote, but it is unclear what happened to this as an official process.

[Bold Prediction ②] How Will the Ecosystem Evolve? The Importance of KYC and Migration

In addition to the rumors of Binance listing, announcements aimed at strengthening Pi Network’s own “ecosystem” are also expected. Particularly important are the progress of the KYC (Know Your Customer) process and “migration” (transition to the mainnet) to make Pi Coin fully usable. In this section, we will explain why these are important and what updates might be possible.

To realize Pi Network’s goal of “cryptocurrency for everyone,” building a robust and reliable ecosystem is essential. For this, KYC and migration are unavoidable paths.

PiNetwork Ecosystem Expansion – Collaboration with Multiple Blockchains and Future Potential

“KYC” to Protect Your Pi: Why is it Necessary? Future Updates?

KYC stands for “Know Your Customer,” which translates to “identity verification” in Japanese. It is the procedure for financial institutions and others to verify the identity of their customers when providing services. Why is KYC important for Pi Network?

  • Prevention of fraudulent use: It prevents a single user from obtaining an unfairly large amount of Pi Coin using multiple accounts or from being used for fraudulent activities such as money laundering.
  • Improved network reliability: The overall reliability of the network increases when all participants are verified as real individuals.
  • Compliance with legal regulations: It may be necessary to comply with laws and regulations in various countries and operate as a sustainable project.

Pi Network has been advancing the KYC process for some time, and many users have already completed verification (information suggests over 18 million as of December 2024). However, many users are still waiting for verification, and there is a demand for a smoother and faster KYC process. In this announcement, major updates regarding KYC, such as improving KYC processing capacity or introducing new verification methods, may be announced.

You might feel that “KYC is a hassle…”, but this is a very important step to protect the value of the Pi Coin you hold and for the healthy development of the entire Pi Network.

How Will Pi Change with “Migration”? What is Second Migration?

Migration, simply put, is like “moving house.” It refers to the process of transferring the Pi Coin you have mined on the testnet to your wallet on the “mainnet,” the production environment where value can actually be exchanged. Only after this is completed can you truly own Pi Coin and potentially use Pi for transactions in the future. Pi Network is already proceeding with migration to the mainnet, which is called “First Migration.” The source information also mentions “Second Migration,” which likely refers to the next phase of efforts to facilitate the migration of even more users or improve the migration process.

In this announcement, sharing of migration progress and future migration plans, especially specific details regarding “Second Migration,” may be revealed. Enabling more users to smoothly migrate to the mainnet is essential for the activation of the ecosystem.

Will Pi’s Value Increase with Ecosystem Enhancement? Announcement of Developer Tools?

The value of Pi Network increases not only through trading on exchanges but also by increasing the places and services (DApps: Decentralized Applications) where Pi Coin can actually be used. Therefore, creating an environment where developers can easily develop attractive apps on the Pi Network platform is also important. The source information mentions that “a large number of developer ecosystem applications are under review,” and in this announcement, new tools or support programs for developers, or the introduction of promising DApps that are already under development, may be announced. This holds the expectation that the Pi Network ecosystem will expand rapidly.

To Avoid Getting Lost in the Sea of Information: What We Should Keep in Mind

We have looked at various predictions and possibilities so far, but it is also important to maintain a calm perspective when encountering new information. In this section, we will think together with readers about points to note when gathering information about Pi Network and how to approach expectations.

Especially for projects like Pi Network, where the community is active and various information is flying around, selecting information is very important. The feeling of anticipation, “Maybe something amazing will happen!”, is exciting, but we also want to maintain calmness at the same time.

Rumors and Expectations First? Get in the Habit of Checking Official Information

The predictions regarding the possibility of Binance listing and the evolution of the ecosystem introduced in this article are also based solely on current information and the YouTube source information. The most reliable source is the official announcement from the Pi Network operating team (Pi Core Team). Get in the habit of regularly checking the official website, official social media accounts (like X), and in-app announcements. Be careful not to be swayed by uncertain information or information that is merely personal speculation.

“You’ll Definitely Make Money” is a Danger Signal! Understand the Risks of Cryptocurrency Investment

Not limited to Pi Network, investment or participation in cryptocurrency always involves risks. There is a possibility of significant price fluctuations, and there is also a non-zero possibility that the project may not proceed as expected. Be wary of sweet words like “You’ll definitely make money” or “You’ll lose out if you don’t join now.” It is important to understand that Pi Network is still a developing project, and its future is largely unknown. This article is not intended as investment advice. Please gather information and participate in the project based on your own judgment and responsibility.

Community Voices and Project Progress: Balanced Information Gathering

One of the big attractions of Pi Network is its active community. The opinions and discussions of other users can be helpful, but on the other hand, they can also be biased towards enthusiastic opinions or unfounded optimism. While listening to the voices of the community, it is important to maintain a balanced perspective by comparing them with objective information such as the project’s technical progress and official announcements.

Summary: What Will the Future of Pi Network Be? Let’s Watch with Expectation and a Calm Perspective

Finally, the summary. Pi Network is a unique project that sets a grand vision and continues to evolve with many users. Expectations are high for how this major announcement will accelerate its progress. Finally, let’s reconfirm how we should approach the future of Pi Network.

The Pi Network ecosystem announcement on May 14, 2025, has the potential to be a major turning point for the project. Many expectations are placed on it, such as rumors of listing on Binance, further progress in the KYC process, acceleration of migration, and the emergence of new DApps that enrich the ecosystem.

However, no matter what announcement is made, Pi Network’s journey has just begun. A sense of “Ah, I see!” along with a desire to learn more and try it out might be the key to enjoying this new technology.

When encountering new information, don’t forget to maintain a calm perspective along with expectation, and wait for the official announcement. And it is important to evaluate the information yourself and watch how the Pi Network project has the potential to change society from a long-term perspective.

We hope this article helps you understand the latest trends in Pi Network and pay attention to future developments. We wish your Pi Network life will be richer and more exciting!

What do you think about the content of this announcement? Please share your opinions in the comments! Also, keep an eye on Pi Network’s official announcements and continue to check for the latest information.

Solving Pi Wallet Activation Issues: 9 Solutions & Causes for Pending KYC and Stuck Mainnet Migration (Step 9)

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Hello! In this article, we will explain in detail the various issues related to Pi Wallet activation that many Pi Network users are facing. Specifically, we will introduce the possible causes and concrete solutions, step by step, for problems such as the disappearance of the “KYC with Bankz” option, the display of 0.98 Pi after wallet activation, the “Unavailable” display in the activation section, and the inability to proceed with the most important Step 9 (Mainnet migration).

Major Issues Reported on Pi Network

Currently, the following issues are frequently reported in the Pi Network community:

  • The “KYC with Bankz” option has disappeared from the account.
  • The wallet has been activated, but 0.98 Pi is displayed. What does this mean?
  • The wallet activation section shows “Unavailable” and cannot be activated.
  • Step 9 (Migration to Mainnet) is not completing, and KYC remains “Pending”.

Many of you may be experiencing these issues. Let’s look at each problem in order.

Issue 1: Disappearance of the “KYC with Bankz” Option

Previously, the “KYC with Bankz” option was displayed on some accounts. This was a feature introduced as an alternative means to complete KYC via Bankz and continue Pi transactions in cases where there were issues with the standard Pi Network KYC process.

However, this option has now been removed from many users’ accounts. The Pi Network team has not announced an official update regarding this matter. We will inform you as soon as information becomes available, but currently, this option is unavailable.

Issue 2: Meaning of “0.98 Pi” Displayed After Wallet Activation

Some users’ accounts, after completing the wallet activation process, may have 0.98 Pi deposited. This was sent by the Pi Network team to test your wallet, confirm that it functions correctly, and complete the activation.

So, what are the purpose and benefits of having your wallet activated?

The main purpose of this activation is to enable you to actually receive, send, and store (hold) Pi Coin in your Pi Wallet. For example, if you believe the price of Pi will rise in the future, you can purchase Pi from other users or (in the future) exchanges, store it in your wallet, and sell it when the price increases.

Issue 3: Wallet Activation Shows “Unavailable”

In some cases, the wallet activation section under the Pi KYC item shows “Unavailable”, and the wallet cannot be activated.

The main reason for this display is that additional verification is required in your KYC process.

  • Request for additional information: Additional information regarding your identification document may be required.
  • Liveness Check: Biometric authentication (such as facial recognition) for identity verification may be required again. In some accounts, this check may be repeatedly requested if validators have difficulty verifying or in similar situations.
  • Incomplete Two-Factor Authentication (2FA): Your security setting, two-factor authentication, may not have been completed correctly.
  • Email address verification: Verification of your registered email address may not be complete, or re-verification may be required.

Once these additional verifications are completed, the activation option will be displayed, and you will be able to activate your wallet.

Possible Solutions:

While there is no guarantee of a definite solution, a method worth trying is to log out of the Pi Network app at least once a day, log back in, and then tap the mining button. At this time, notifications for pending Liveness Checks, 2FA, email verification, etc., may be displayed. However, this is merely a potential solution and is not guaranteed to resolve the issue. Please try it patiently. If it still doesn’t appear, you will need to wait for the system to process it.

Issue 4: Step 9 (Mainnet Migration) Not Completing / KYC Remains Pending

This is currently one of the particularly serious issues many users are facing. It is a situation where Step 9, which is the process of migrating the mined Pi to the Mainnet wallet, is not completing, or the KYC application remains “Pending” and does not proceed.

Previously, upon completion of KYC, migration to Mainnet (Step 9 completion) also occurred almost simultaneously, enabling sending and receiving of Pi. However, currently, the Pi team has changed the process to prioritize wallet “activation” first, and the processes for KYC completion and Mainnet migration (Step 9) are often proceeding on a separate track or are being held in a pending state.

Main Causes for Delay in Step 9 (Mainnet Migration)

The reasons why migration to Mainnet is stalled are mainly the following two:

  1. Issues with the KYC process itself:
    • Liveness Check issues: If there are deficiencies in the submitted photos or videos, or if the authentication system cannot recognize them properly.
    • Submitted document issues: If there are problems with the submitted documents, such as blurry identification document photos or inconsistent information.
    • Validator verification issues: If the volunteer validators who verify your KYC application are having difficulty confirming the documents or are in a situation where judgment is difficult.
    • Validator shortage: If the number of validators is insufficient relative to the number of KYC applicants, causing delays in the overall verification process.
  2. Intentional adjustments by the Pi Network team: It is also possible that the Pi Network team has intentionally temporarily paused the Mainnet migration for some users to ensure overall system stability and security, or to prioritize other development.

Solutions for Incomplete Step 9 / Pending KYC

Unfortunately, there is no immediate solution for this issue, but similar to Issue 3, trying the following method may help move things forward.

Try logging out of the Pi Network app at least once a day, logging back in, and then tapping the mining button. While this action is not guaranteed to improve the situation, it is an action worth trying.

This action may prompt the system to resume processes that were stalled, and actions such as the following may be encouraged:

  • An option to resubmit your KYC application may be displayed.
  • An additional Liveness Check may be required.
  • Notifications for email re-verification or 2FA setup may appear.

If these actions are requested, responding promptly may resolve the pending state and allow the Step 9 process to proceed. If there is still no progress, unfortunately, you will have to wait for the Pi Network team’s response or system updates.

Summary

In this article, we explained various issues related to Pi Wallet activation, KYC, and Mainnet migration, along with their possible causes and solutions. Many users are facing similar problems, and in most cases, it is necessary to understand that resolution takes time. While trying the suggested solutions, it is advisable to wait for official announcements.

It is important not to rush, to check the app regularly, and to reliably perform the requested actions.

We hope this article will be helpful to those who are experiencing issues with their Pi Wallet.

Pi Network: Explaining How Unverified Users’ Coins Will Be Deleted After the Grace Period

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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

 

(Reminder) PiNetwork: Complete Guide to the Final Extension of the KYC/Mainnet Migration Deadline Until March 14, 2025

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To all Pi Network users, we bring you important update information. The Pi Network team recently announced the extension of the deadline for KYC (Know Your Customer) and Mainnet migration until March 14, 2025, 8:00 AM (UTC). It is important for users who have not yet completed KYC or migrated to the Mainnet to make the most of this ‘final grace period’.

Latest Status of Pi Network and Deadline Extension

Pi Network officially launched its Open Network on February 20, 2025, after nearly 6 years since its establishment. This made PI tokens publicly available and eligible for listing on cryptocurrency exchanges. However, many users have not yet completed their KYC verification and migration to the Mainnet.

Initially, the deadline to complete these processes was February 28, but as the Pi Network team has done in the past, they have decided to extend the deadline again, this time until March 14, 2025. This date marks the 6th anniversary of Pi Network.

Reasons for and Importance of the Deadline Extension

According to the Pi Network team, this extension is being made for the following purposes:

  • To provide sufficient time for actual Pioneers (Pi Network users) to verify their balance and migrate to the Mainnet
  • To give users who returned after the Open Network launch an opportunity to rejoin the network
  • To maintain Pi Network’s core goals of inclusivity and fairness

This extension was made in response to feedback from the community. Many users expressed concerns about previous delays and felt that a fair migration time was needed before the Open Network launch.

Current Progress of KYC and Mainnet Migration

Currently, over 18 million users have completed the KYC process, but only approximately 8 million users have migrated to the Mainnet. This significant gap is one of the main reasons the Pi Network team extended the deadline.

The Pi Network core team aims to improve the KYC process and Mainnet migration capabilities to enable faster processing and reduce the gap between KYC-completed users and Mainnet-migrated users.

Risks of Missing the Deadline

Warning: If you do not complete KYC and Mainnet migration by March 14, 2025, you risk losing your mobile balance. However, Pi coins mined in the last 6 months before migration are stated to be an exception.

The Pi Network team emphasizes this ‘final grace period,’ suggesting that this is likely the last extension. Therefore, users who have not yet completed the necessary procedures are strongly encouraged to act immediately.

How to Resolve KYC and Name Mismatch Issues

Many users face issues with being rejected during the KYC process due to name mismatches. Here are the steps to resolve this issue:

  1. If your KYC is marked as ‘tentative’ or ‘pending,’ look for the option to resubmit your KYC application in the app
  2. When resubmitting, ensure that all information provided is accurate
  3. Double-check that your full name and contact number match your official ID document

If there is a name mismatch, it may be possible to resolve the issue through the appeal process. However, if you appeal and are rejected, you may face restrictions.

How to Update Your Mobile Number

Pi Network recently introduced a feature that allows users to update their mobile number. This is a particularly important update for users who registered more than 6 years ago. You can update your phone number by following these steps:

  1. Go to the profile section
  2. Click the ‘Change’ option next to your phone number
  3. Select your country code and enter your new phone number
  4. Click ‘Confirm Change’
  5. Complete the ‘Liveness Check’ – this is a process that verifies your identity using the front camera

The Future of Pi Network and Price Trends

Pi Network is scheduled to fully launch its Open Network in the first quarter of 2025. This decision follows the significant milestone of over 18 million users completing the KYC process and over 8 million migrating to the Mainnet.

Regarding the current price situation of Pi Coin, recent reports indicate that it has experienced a 45% drop in 4 days and is currently trading at approximately $1.80. This follows a decline in the broader cryptocurrency market.

Furthermore, speculation regarding the listing of Pi Coin on Binance is also increasing, with some information suggesting that 86% of investors expect Pi Coin to debut in the near future.

Community Reaction

The reaction of the Pi Network community to this deadline extension is varied:

  • Positive Views: Some users have expressed gratitude for the increased time to complete the necessary processes
  • Skeptical Views: On the other hand, some users question the repeated delays and extensions and criticize the project’s legitimacy

However, whether optimistic or skeptical, one thing is clear: if you want to own Pi tokens, you must complete the KYC process and migration by March 14, 2025.

Summary and Next Steps

The journey of Pi Network, from its ambitious goals to controversial delays, has certainly not been boring. Whether you have been a long-time Pioneer or recently returned, this extension is an opportunity to secure your place in the Pi ecosystem.

If you have not yet taken action, please follow these steps:

  • Submit KYC verification: Ensure all details provided are accurate to avoid rejection
  • Complete the Mainnet checklist: Follow the instructions provided by Pi Network to migrate your tokens
  • Verify personal information: Double-check that your full name and contact number match your official ID document

Finally, as dates and deadlines may change, it is always recommended to check for official information from Pi Network.

Act now to avoid missing this important deadline!

2025 Pi Network: The Dawn of Open Mainnet and Next-Generation Finance

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Pi Network is moving forward with plans to launch its open mainnet in early 2025, with February 20 decided as the date. This groundbreaking event will be a significant step towards ushering in a new era of decentralized finance (DeFi).

Achieving 10 Million Migrations and the Significance of the Open Mainnet

As of February 10, 2025, Pi Network has reached its migration goal of 10 million users to the mainnet. This milestone fulfills a condition for the open mainnet launch and is crucial for ensuring the project’s stability and inclusivity.

The open mainnet will free users from the constraints of banks and governments, enabling fast and seamless transactions. Furthermore, Pi Coin is expected to maintain a stable value, positioning it as a practical currency suitable for everyday use.

Technological Innovation and Economic Impact

The open mainnet is predicted to bring about the following technological innovations and economic impacts:

  • Instant Cross-Border Transactions: Transactions across borders will occur instantly, potentially bypassing country-specific financial regulations.
  • Elimination of Intermediaries: Direct transactions between businesses and individuals will be possible, removing intermediaries like banks and credit card companies.
  • Stable Currency Value: Pi Coin will maintain a stable value, offering practicality different from Bitcoin or Ethereum.

Global Events and Future Roadmap

On Pi Day, March 14, 2025, Pi Network’s 6th-anniversary event is scheduled. This event will unveil a new roadmap, and large-scale community gatherings and online conferences are planned worldwide.

The roadmap will include static goals for the next 5-10 years and is expected to outline plans for partnerships with developers and the introduction of blockchain-based payment applications.

Importance of KYC and Migration Process

Pi Network emphasizes inclusivity and has extended the deadline for many users to complete the KYC (Know Your Customer) process and mainnet migration. This allows more users to participate in the open mainnet and utilize their Pi Coins.

Conclusion: Will 2025 Be a Year of Financial Paradigm Shift?

If Pi Network successfully launches its open mainnet as planned and continues to expand its ecosystem, it will be a historic declaration challenging traditional financial institutions. 2025 has the potential to be a turning point in the economic landscape.

Let’s continue to watch for the latest updates and see how this innovative project evolves.