Pi Network is intensifying efforts to ensure that its mainnet migration remains on track for December 31, 2024. This migration is a key milestone in the project’s development, marking the shift of Pi tokens from a testnet to a fully operational blockchain network.
Once the migration is complete, Pi tokens will be tradeable on decentralized exchanges, usable for real-world transactions, and integrable into decentralized applications (DApps).
Social media is abuzz with news that Pi Network’s founder and CEO has reaffirmed the December 31, 2024, deadline for the open mainnet migration. In addition, the deadline for KYC (Know Your Customer) application submissions has been extended from September 30 to November 30, 2024.
The KYC checklist includes vital steps such as identity verification, securing Pi balances, and preparing for the mainnet transition.
Failing to meet the December 31 deadline could result in users losing most of their Pi balance, with only the tokens mined within the last six months before migration being retained.
This makes the deadline critical for users who want to preserve their earnings and fully engage in the network’s open phase.
Pi Network emphasizes that the migration to mainnet is not merely a technical shift but a crucial step toward its goal of establishing a decentralized, community-driven economy. The network urges participants to meet the deadline and remind their Referral Team and Security Circle members to do the same.
Why the Extension?
The extension was introduced to address technical issues with the KYC timer affecting some users. It also ensures more participants have time to verify their accounts, sustaining community momentum while aligning with the network’s mainnet goals.
Key Dates to Remember:
- November 30, 2024: New KYC application deadline.
- December 31, 2024: Final mainnet migration deadline.
Pi Network encourages all users, or “Pioneers,” to complete their KYC as soon as possible. Missing these deadlines could lead to substantial losses, particularly for users with large Pi balances.
The extension is the final grace period, underscoring the network’s commitment to transitioning to an open blockchain ecosystem by the end of the year.
