Pi Network (PI) News: Here’s the Latest Update

TL;DR

• Pi Network users must complete KYC, set up wallets, sign agreements, and finish other tasks by a previously set deadline, or risk losing access to their tokens.
• The Pi Core Team plans to unveil the open mainnet roadmap in December, sparking mixed reactions over potential delays.

Complete These Vital Steps

Despite being around for over five years, the controversial cryptocurrency project Pi Network (which aims to allow people to mine digital assets from smartphones) has yet to introduce its native token and open mainnet. 

Earlier this year, the team said such major developments could occur once all users pass necessary Know-Your-Customer (KYC) procedures. Initially, people had until September 30 to complete verifications, while later, the deadline was extended to November 30. 

Additionally, the developers stated that the Open Network will launch once 15 million people have passed KYC procedures. Not long ago, the social media channel Pi News disclosed that just 1 million individuals are needed to complete the target.

Most recently, the entity issued important guidance to those migrating to the mainnet, saying that completing KYC verifications is only part of the whole process.

Users also need to set up and confirm the wallet, sign the token confirmation agreement, and conduct other checklist steps. 

“These steps can be completed before KYC, no need to wait. Please complete the migration within the grace period, otherwise your Pi may be considered abandoned and unusable,” the team warned. 

One Week Left Before a Major Announcement?

Towards the end of August, PiBridge – a decentralized finance platform connecting Pi Network with other blockchains – held a talk show. While many anticipated updates on the mainnet launch, the team did not share any new details.

Shortly after, though, Pi Core Team announced that they would reveal the open mainnet roadmap, which would allow official Pi token transactions, in December this year.

This disclosure stirred mixed reactions in the community, with some cheering the potential effort while others viewed it as yet another delay.