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Pi Network Announces Grace Period for KYC and Mainnet Migration: Must Complete by End of 2024

Pi Network KYC and Mainnet Migration Grace Period Begins: A Strategic Step Towards Open Network

Pi Network has started a 6-month grace period for KYC (Know Your Customer) and Mainnet migration from July 1, 2024. This important measure is positioned as a preparatory stage to guide Pi Network towards an open network. This is the time-limited KYC that has been mentioned before. It seems the approval speed has increased recently, and I’m envious that KYC can be done without much waiting. I’m curious what will happen if children under 18 are mining. Big changes like this make it feel like the open network is getting closer.

Here is a summary of the official blog:

https://minepi.com/blog/kyc-grace-period/

If you have not completed KYC, please refer to this link for the application procedure:

https://pinetwork.masters-all.com/pinetwork-kyc%ef%bc%88%e6%9c%ac%e4%ba%ba%e7%a2%ba%e8%aa%8d%ef%bc%89%e3%81%ae%e6%96%b9%e6%b3%95%e3%81%ab%e3%81%a4%e3%81%84%e3%81%a6/

Key Points of the Grace Period

Period: 6 months from July 1, 2024
KYC Application Deadline: Within the first 3 months (until September 30, 2024)
Mainnet Migration Completion Deadline: Within 6 months (until December 31, 2024)

Failure to meet these deadlines may result in the loss of a significant portion of Pi mined in the past. However, considerations are made, such as temporarily pausing the countdown timer if the process is delayed due to system issues.

New App Interface

To enhance user convenience, Pi Network plans to sequentially introduce the following new features:

Display a countdown timer on the Mainnet Checklist
Install a new banner on the home screen
Implement pop-up notifications

These features will allow users to keep track of their deadlines and take necessary actions quickly.

Significance of the Grace Period

This grace period holds the following important significance:

Accelerate the transition to the open network
Promote the migration of user referral bonuses and security circle bonuses
Prevent unverified Pi from migrating to the Mainnet
Improve network stability and reliability

Impact on New Users

The introduction of the grace period does not affect new users’ network participation or free mining. However, new users must also follow the same rules and complete KYC and Mainnet migration within the grace period after joining.

Future Outlook

The introduction of this grace period is a crucial step towards Pi Network becoming an open network. By preparing the community and adhering to the principles outlined in the white paper, we aim for the healthy growth and development of Pi.

We encourage all Pioneers to take advantage of this opportunity to complete KYC and Mainnet migration promptly and prepare for the future of the Pi ecosystem.

New On-Chain Lockup for Pi Wallet: Boost Your Mining Rate!

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A new feature has been released on Pinetwork. This is Pi’s new lockup feature.
Translated blog post.

Source
https://minepi.com/blog/on-chain-lockup/

As introduced in the Pi2Day announcement, Pioneers who have successfully migrated to Mainnet can now voluntarily create new lockups on the blockchain! Before this feature was introduced, Pioneers could not lock up Pi even after migrating to the Mainnet blockchain or after their original lockup expired, even if they wished to. This feature addresses that need and allows migrated Pioneers to utilize lockup mining rewards.

How to Create a New Lockup

Simply tap “Lockup” in your Pi Wallet and select “Create New Lockup” to start an immediately effective lockup. Lockups are binding until the period ends. The mining boost will take effect in the next mining session after the lockup.

① Open the wallet in PiBrowser.
This is the screen showing the Pi you currently hold. At the bottom, the Pi currently locked up is displayed.
The lockup button in the middle of the screen is the new lockup feature.

② Pressing the lockup button allows you to set up a lockup if it’s possible. Unfortunately, I am currently in a period where 100% is locked up for another two years, so I don’t have any Pi to lock up newly.

Purpose of This Feature

This lockup feature is a strategic move to ensure a healthy and smooth transition aligned with the network’s growth and evolution. It particularly focuses on fostering a utility-based ecosystem grounded in app usage and real goods/services transactions, providing another opportunity for Pioneers to enhance their mining rate.

Differences from Pre-Migration Lockup

Both types of lockups use the same reward calculation method and cannot be undone once committed. However, there are differences in the Pi affected and the implementation method. Pre-migration lockup settings boost current Pi based on future lockup settings and affect the next migration. On the other hand, this new feature applies only to Pi on the Mainnet blockchain and directly locks up Pi immediately after confirmation in the wallet interface.

Introduction of 200% Lockup

Furthermore, this feature allows for a 200% lockup (200% of the currently migrated amount). Many Mainnet migrated Pioneers may receive utility-based Pi through Pi apps or local commerce, potentially having more Pi in their Mainnet wallet than the Pi they mined. In this case, they can lock up this amount to maximize their lockup mining rewards.

Impact on Open Network Progress

In line with the Open Network priorities, the introduction of a new decentralized lockup mechanism is crucial for achieving a balanced and thriving Pi ecosystem. To encourage long-term participation and self-management of Pi’s circulating supply through decentralized actions, directly introducing the new lockup feature on the blockchain adds a missing element to the Mainnet ecosystem, enabling a more decentralized effort to support the network’s utility and sustainability.

Read the lockup section of the 2021 Whitepaper for more details!

Stay tuned for updates and prepare to make the most of the new feature!

The Pi Network aims to transition to the Open Network in 2024, contingent upon meeting specific conditions and strategic goals. This transition depends on community cooperation and the influence of external factors. For a complete understanding of the requirements affecting Open Network progress, please refer to the full announcement.

Breakthrough Evolution at Last Pi2Day Ahead of Pi Network Open Network

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Pi Network’s Important Milestone: The Last Pi2Day Before Open Network

June 28, 2024, marked Pi2Day, an important milestone for Pi Network. This is the last Pi2Day before the launch of the Open Network. The official blog was updated, so I translated it into English.

Source Article
https://minepi.com/blog/pi2day-progress-challenge/

Progress Towards Open Network

Based on the Open Network conditions announced in December 2023, Pi Network is making steady progress. Significant advancements have been made through the efforts of the Core Team, community developers, and all Pioneers.

Pioneer Community Growth

We have reached a wonderful milestone of over 60 million active Pioneers participating in the network.

Key Conditions for Open Network

KYC (Identity Verification) Verified Pioneers: Target: 15 million, Currently over 12 million achieved.
Migration to Mainnet: Target: 10 million, Currently approximately 5.79 million migrated.
Pi Applications: Target: 100 apps, Currently over 70 apps meet the criteria.

Technical and Product Advancements

Improvements to the KYC (Identity Verification) Process

The Core Team has developed various features to facilitate the KYC process:

Introduction of a new appeal feature
Improved accuracy of liveness checks
Addition of a resubmission feature
Improvements to UI and UX

Accelerating Mainnet Migration

The speed of migration to Mainnet has significantly increased, allowing for migration at up to twice the previous speed. Further improvements are planned.

New Feature: On-Chain Lockup

Pioneers who have migrated to Mainnet can now voluntarily create lockups on the blockchain. This is expected to increase mining rewards.

Community Initiatives

Pi Network is focused on building a strong community. This is crucial for the platform’s resilience and long-term success. By deepening connections among Pioneers and promoting collaboration and innovation, we accelerate the network’s value and growth.

Open Network Challenge

To commemorate this Pi2Day, a community event will be held to promote progress towards the Open Network. Pioneers can contribute to the network’s development by participating in this challenge.

Details Here
https://pinetwork.masters-all.com/pi2day-challenge2024/

Pi2Day Challenge 2024: How to Participate and Reward Details

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The Pi2Day event has been held.
If you participate in the event, which is easy to complete, you will receive two prizes, so please do participate.
In the process of participating, you can get an early look at new features and explore the Pi ecosystem.

Challenge Details

This challenge aims to complete 5 actions within the Pi platform. This includes using many apps, engaging with new utilities, participating in community programs, and activities that promote network growth. Through these actions, the Pi community will collectively celebrate ongoing achievements, encourage exploration of the Pi ecosystem, and aim for progress towards the open network by completing the steps in the Mainnet Checklist.

Prizes

By completing actions and reaching specific milestones, you can unlock various prizes. The first prize is unlocked upon completing the first 3 actions, allowing you to select a special emoji from 5 types that will appear next to your username in Pi Chats. Upon completing all steps, you will receive a customized image that you can use to show your achievement on Fireside Forum and other social media platforms.

Here are the emojis you can get.
The administrator chose the third one from the top.
(I regret it a little because the emoji is hard to see in the chat)

How to Start

An interactive Pi2Day Progress to Open Network Challenge checklist will appear on the mining app’s home screen for all Pioneers. To start:

Open the Pi mining app and click the “Challenge” button on the home screen.
Please also download the Pi Browser. You will need this for the challenge!
Follow the instructions on the list and complete each action to proceed to the next step.
Upon completing the first 3 milestones, the first prize (emoji) will be unlocked.
Complete all tasks in the Pi2Day Challenge and get a special customized image that you can post on social media!

Step-by-Step

Preparation for Open Network: Go to the Mainnet Checklist and complete all available steps. For example, if there are actions such as signing the Token Acknowledgement or submitting your KYC application, complete them. If the checklist is complete or there are no available actions, proceed to the next step of the Pi2Day Challenge.

Check Social Profile Settings: When you open the Pi Browser, a new profile section will appear. Navigate to the new profile feature and check permissions.

Customize Your New Profile: Upload a profile picture to make your social profile unique (this photo is currently only visible to friends). From the profile dashboard, tap “Profile Settings” and tap the edit icon above your Pi username to edit your profile picture. Currently, in addition to adding a profile picture, you can connect with and follow other Pioneers, and edit privacy settings.

Visit New Wallet Lockups: Pioneers who have migrated to Mainnet can create new lockups on the blockchain. This feature accommodates Pioneers who need to create lockups after migration and allows migrated Pi to be used for lockup mining rewards. Go to your wallet, ensure you are viewing the Pi Mainnet (not Testnet), and tap “Lockups”. Tap “Create Lockup” and make your selections. Lockups become effective in the next mining session and cannot be undone once created.

→ If you have already set up lockups, simply opening the wallet is sufficient.

Participate in the Fireside Forum Festival: Join the #PiMusic Art Festival held in June on Fireside Forum! You can participate by posting your own work, supporting others’ posts, and sharing. Learn more

→ Pressing the share button is sufficient to clear this.

By completing the tasks above, you will receive the final prize.
It was an image like this.

Pi Node – Open Network Preparation and Node Version Update

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In the Pi blockchain, nodes are central to decentralization. Accessible to all Pioneers with internet-connected computers, their progress is crucial for realizing the Pi Network’s vision. As we approach the Open Network, the progress of nodes becomes increasingly important. There was a blog update from pinetwork, so I will post a Japanese translation of the article. The existence of 200,000 nodes on the testnet is a significant presence in the cryptocurrency space, so I look forward to future updates.

Original article: https://minepi.com/blog/node-version-update/

Pi nodes have the potential for large-scale computation. There are currently over 200,000 computer nodes on the testnet, which are planned to migrate to the mainnet during the Open Network period. This will make Pi nodes one of the world’s largest distributed systems, enabling tasks such as training large-scale open-source AI models. This opens up the possibility for node operators to earn more Pi in the future and brings new utility opportunities.

Preparation for Open Network

To prepare nodes for the Open Network, it is necessary to enable switching between the testnet and mainnet. This will allow node runners to smoothly migrate to the mainnet when the network opens. Future versions of the node application and server will support this switching functionality.

Introduction of Testnet 2

To test this functionality before the mainnet opens, we are introducing a new clean testnet blockchain, ‘Testnet2’. Initially, some nodes will be assigned to this new Testnet2. The blockchain each node is connected to will be displayed in the node application’s UI. This feature is planned to be introduced in the next node version.

Testnet Reset

The testnet is used for testing purposes and may be reset periodically. A reset may occur in the coming weeks or months, particularly as part of the preparation and testing work for the Open Network. A reset will result in the loss of all user testnet wallets and test Pi balances. It is important for developers and users to design their apps to function correctly even after a testnet reset.

Recent Node Version Updates

Significant node version updates have been made in preparation for the Open Network. These updates are essential for enhancing node analytics, standardizing applications across regions, and laying the foundation for node selection and decentralization. Since Pi Day 2024, three versions have been released.

Version 0.4.11 (May 9, 2024)

This version was automatically distributed to all node runners.

Added a new UI feature to display detailed information about the node’s catch-up process.
Introduced warnings regarding interruptions in the catch-up process.
Improved the method for determining the latest block.
Improved logging functionality to allow sending up to 40 lines of log information when issues occur.
Implemented a mechanism to determine the appropriate execution container, assisting with accurate node reporting.

Version 0.4.10 (April 9, 2024)

Resolved an issue where Docker containers did not start automatically. This fix allows nodes to be started from within the Pi Node app, and the corresponding Docker containers will also start as expected.

Version 0.4.9 (March 14, 2024)

Added a new page to display the node’s known peer list.
Allowed Pioneers to add their own known nodes (peers) if they cannot access Core Team nodes.
Made the history URL customizable for downloading blockchain history and resuming operations up to the latest block if the node cannot access the synchronization server.
Resolved an infinite loading screen issue experienced by some Pioneers during the setup of newly downloaded nodes.
Fixed the port check function to ensure all necessary ports are open.
Set the default container for all nodes to Pi-Consensus.
Resolved an issue where the Pi Node installation date was displayed as “N/A”.
Resolved an issue where the Pi Node uptime was displayed as “N/A”.
Improved error handling methods to limit downtime.

This article details the latest updates regarding Pi Network nodes and the preparation status for the Open Network. The following points are particularly impressive:

1. Detailed Explanation of Progress
– Specific improvements and new features in node version updates (0.4.9, 0.4.10, 0.4.11) are carefully explained, clearly conveying the technical evolution.
– Information regarding important new features, such as the introduction of the new Testnet2 and the development of the mainnet/testnet switching function, is clearly presented.

2. Consideration for Users
– User-friendly improvements such as the node auto-update function and fixes to the installation date display are included, indicating improved convenience for node operators.
– Warnings regarding testnet resets are also provided, showing consideration for users.

3. Sense of Anticipation for the Future
– The large-scale computing power of Pi nodes is emphasized, suggesting that new utilities such as distributed computing and AI model training can be expected in the future.
– Reading this article increases the sense of anticipation for the new opportunities and possibilities that the Pi Network will offer as it continues to evolve.

Overall, this article balances technical details with user-friendly improvements, not only providing the latest information on Pi Network nodes but also fostering a sense of anticipation for the future.
These improvements are important steps towards the Open Network, but they are not the final stage. We look forward to further updates and information. For information on introducing nodes, please see here.

https://pinetwork.masters-all.com/pinetwork%e3%81%a7node%e9%81%8b%e5%96%b6%e3%82%92%e3%81%99%e3%82%8b%e6%96%b9%e6%b3%95%ef%bc%88%e5%88%9d%e6%9c%9f%e8%a8%a positron%e3%81%aa%e3%81%a9%e3%82%92%e8%a7%a3%e8%aa%ac%ef%bc%89/

Pi Network Mainnet Migration Doubles Speed! Path to Open Network

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Accelerating Mainnet Migration: Aiming for 10 Million Migrations

Pi Network has announced a major technical upgrade to its Mainnet migration mechanism. This upgrade has more than doubled the speed at which Pioneers can migrate to the Mainnet.

This is a Japanese translation of the official blog post.
Mainnet Migration Upgrade| Pi Network (minepi.com)

Streamlining the Migration Process Through Technical Optimization

This technical upgrade optimized the algorithm that manages the migration process, the queue of Pioneers undergoing migration, additional checking and inspection subprocesses, and interactions with the Mainnet blockchain. These optimizations were made after significant effort and multiple rounds of iterative testing, making the migration process more efficient and improving the overall migration throughput.

Act Now: Complete Your Mainnet Checklist and Execute Migration!

Pioneers who have completed their Mainnet Checklist should check their migration status immediately. With this speed increase, you may have already migrated to the Mainnet, or if you are actively mining, you will progress through the queue quickly.

For Pioneers who have not yet completed the checklist, now is the perfect opportunity to do so. Complete the remaining steps on the Mainnet dashboard in the Pi mining app today. Thanks to this improved speed upgrade, more Pioneers need to complete their Mainnet Checklist and get ready for migration to maximize the current migration capacity.

Progress Towards the Open Network Mainnet Migration Goal

The Core Team’s development of this migration upgrade supports the achievement of the shared network goal of 10 million Mainnet migrations to the Open Network. The number of Mainnet migrations has increased from 4.6 million in March last year to the current 5.41 million and is expected to accelerate further.

The Core Team continues to invest significant time and resources into improving various processes and aspects critical to the Open Network goals, including KYC (Know Your Customer), migration, utility creation, growth, and community engagement. This update regarding Mainnet migration is just one part of the process, and we are improving various processes and releasing updates without hindering the progress of other critical processes.

Conditions for Mainnet Open

For Pi Network to transition its Mainnet to an Open Network, the following conditions must be met:

Achieving 10 Million Mainnet Migrations: It is necessary for 10 million Pioneers to have completed their migration to the Mainnet.
Completion of the KYC Process: The Know Your Customer (KYC) process must be progressing smoothly, and many users are required to have completed KYC.
Network Stability and Security: It is important that the Pi Network is stable and free from security issues.
Utility and Ecosystem Growth: Growth of apps and utilities on the network must be confirmed, and the ecosystem must be functioning actively.
Community Participation and Engagement: Community members are required to participate actively and contribute to the network’s growth.

By meeting these conditions, Pi Network can proceed with the transition to an Open Network. For detailed requirements, please refer to official announcements and the white paper.

Pi Network aims to transition to an Open Network in 2024, provided specific conditions and strategic goals are met. This transition depends on the collective efforts of the community and the influence of external factors. For a complete understanding of the requirements that affect progress towards the Open Network milestone, please refer to official announcements.

Introducing New KYC Biometric Checks in the Pi App (KYC Update)

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Pi Network is introducing new liveness checks to further strengthen the KYC process for Pioneers and ensure the community’s safety and progress. This video explains the new features designed to address challenges faced by Pioneers with Provisional KYC status and accelerate the community’s progress towards the Open Network KYC goal.

Official Blog Post
https://minepi.com/blog/liveness-checks/

Video

New Feature Overview

The new checks include face angle verification, which will also be required for new KYC applicants. These verifications are intended to further confirm the account holder’s identity and improve account security.

Deployment and Convenience

The new liveness checks will be rolled out gradually next month, right after mining, with Pioneers’ convenience in mind. The number and timing of checks will vary depending on the individual KYC application.

Instructions for Pioneers

When the new liveness check popup appears, press ‘Continue’ and follow the instructions. If you have Provisional KYC status, it is important to perform these short checks that pop up in the mining app to unblock yourself in the KYC and migration process.

Purpose of Additional Liveness Checks

These additional checks utilize data collected to assist with the extra verification needed to resolve Pioneers’ Provisional status, leveraging it in KYC application analysis. This allows the community to move more quickly towards the Open Network KYC goal.

Summary

Pi Network is supporting the community’s progress by introducing new liveness checks to help Pioneers complete the KYC process safely and efficiently. These new features are designed to help Pioneers take a step forward towards the KYC goal, which is one of the conditions for the Open Network. Watch the video for more details.

Pi Network’s 5th Anniversary: Path to Open Network

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Introduction

This article will explain in detail how Pi Network is celebrating its 5th anniversary, preparing for the open network, and its future vision.

5th Anniversary Milestone and Achievements

Pi Network has achieved many milestones in its five years since inception. In this milestone year, Pi Network is preparing to move into a new phase and is sharing its progress with the community.

New Product Announcements and Ecosystem Vision

To celebrate its 5th anniversary, Pi Network has announced new products and is exploring collaborative efforts towards building its ecosystem vision. This includes products to complete the loop between the Pi Browser and PiNet, allowing users to visit and interact with Pi App pages via PiNet without needing to log in, except when actions like using the Pi Wallet or Pi KYC are required via the Pi Browser.

Sharing Network Progress

Progress on KYC, Migration, Pi Node, ecosystem infrastructure, programs, and more is being shared, demonstrating efforts towards the conditions outlined in the Open Network plan announced on December 27, 2023.

10 million KYC Event

A new “10 million KYC event” has been announced to encourage community efforts and help other Pioneers complete KYC. This is a crucial step towards building the inclusive Web3 ecosystem that Pi Network aims for.

New Content Feed in Mining App

A new content feed has been introduced in the mining app, allowing Pioneers to share again via PiNet and complete the loop. This enables the community to share information more actively and contribute to the growth of Pi Network.

Conclusion

Pi Network aims to play a significant role in the world of cryptocurrency and blockchain. To achieve this, it is pursuing a wide range of initiatives, including building a peer-to-peer ecosystem, providing practical apps and utilities, fostering a community that drives participation and innovation, nurturing the Web3 ecosystem, creating a gateway to a cashless future, and creating a peer-to-peer marketplace.