Pi Network Sets New KYC Deadline: February 2025

user avatar

by Giorgi Kostiuk

2 years ago

Pi Network has announced the extension of the KYC and Mainnet migration deadline to February 28, 2025. This extension aims to provide pioneers with time to secure their Pi coins by completing necessary steps.

Reasons for the KYC Extension

The main reasons for the extension include: - Increase participation: More pioneers will have the chance to complete KYC and migrate to Mainnet. - Address technical issues: Additional time will allow users to resolve verification challenges. - Strengthen the network: A larger verified user base will enhance the security and robustness of the Pi ecosystem.

Consequences of Missing the Deadline

Pioneers missing the February 28 deadline will retain only the Pi mined in the last six months. Older mined coins will be forfeited. It's crucial for pioneers to meet deadlines to maintain their stake in the decentralized system.

Rationale and Impact of Extension

Pi Network emphasizes the importance of the Grace Period for maintaining a real-user-driven decentralized system. This extension helps prevent unverified accounts from affecting the network’s integrity and scalability.

It is emphasized that this new extension might be the last one. Pioneers need to act quickly to safeguard their coins before 2025.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Fairshake Launches Bipartisan Campaign to Support Pro-Crypto Lawmakers

Fairshake is launching a bipartisan campaign to support 32 incumbent candidates in the House, focusing on those who back the House CLARITY market structure bill, with an initial commitment of $6 million in independent spending.

user avatarLeo van der Veen

Binance Introduces AI-Driven Trading Tools

Binance launches a suite of AI products aimed at enhancing trading experiences for various user levels.

user avatarLi Weicheng

Binance Announces Dividend Reinvestment for Tokenized Stocks

Binance has announced a dividend reinvestment process for holders of its Oracle and Marvell tokenized stocks, where dividends will be reinvested into additional fractions of the same securities.

user avatarAisha Farooq

Cryptocom Enhances Trading with Insilico Terminal Integration

Cryptocom has announced an integration with Insilico Terminal on October 6, allowing users to connect their Cryptocom Exchange accounts directly to Insilico's trading platform.

user avatarLi Weicheng

Binance Pay Launches Mobile Top-Up Promotion to Boost Crypto Spending

Binance Pay has launched a promotion offering eligible users a 20% discount on their first mobile top-up to encourage crypto spending.

user avatarTenzin Dorje

Hyperscale Data Reveals Financial Position on Bitcoin and Cash Reserves

Hyperscale Data disclosed its financial position, revealing it holds approximately $564 million in Bitcoin and cash as of October 4.

user avatarBayarjavkhlan Ganbaatar

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.