This grace period ensures early adopters can smoothly complete KYC and Mainnet Migration processes.
Pi Network Offers KYC 6-month Grace Period for 60M Users.
Pi Network is gearing up for its Open Mainnet launch and in that regard, it has offered a 6 month “grace period” and a rolling 6-month window for its estimated 60 million users. This exciting initiative began on July 1, 2024, and aims to accelerate the network’s transition to Open Mainnet.
This grace period has been announced by Pi Network to ensure that all pioneers (the network’s early adopters) can smoothly complete their KYC (Know Your Customer) and Mainnet Migration processes. As of June 2024, Pi Network has surpassed 12 million users who have completed KYC verification, with 5.79 million already transitioned to the Mainnet platform. The ecosystem now facilitates 70 operational applications on Mainnet or in advanced stages of readiness.
Upcoming initiatives are essential for Pi Network’s open mainnet. Here’s why it matters:
Faster Progress: With a significant portion of the network already KYC-verified and migrated, this grace period incentivizes others to complete the process, boosting Pi’s readiness for a smooth launch.
Flexibility for Pioneers: The system is designed to account for potential delays, offering additional time for those facing unforeseen issues.
Maximizing Rewards: Completing KYC and migration unlocks the full potential of Pi’s referral and security circle bonuses, allowing Pioneers to reap the benefits of their network-building efforts.
In conclusion, Pi Network’s introduction of the KYC grace period and rolling window system exemplifies strategic foresight aimed at enhancing user accessibility and network robustness. As the community rallies behind these initiatives, Pi Network remains steadfast in its commitment to pioneering the future of decentralized networks.