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

Coinbase Urges Bitcoin Ecosystem to Prepare for Quantum-Resistant Security

Coinbase is urging the Bitcoin ecosystem to prepare for quantum-resistant security measures to address potential threats from quantum computing.

user avatarLeo van der Veen

Federal Judge Upholds $5 Million Settlement Against Gemini

A federal judge has upheld a $5 million settlement against Gemini, rejecting a motion to overturn it despite changes in regulatory policy.

user avatarLi Weicheng

Criminals Use AI-Powered Tools for Cyber Attacks in India

Criminals are using AI-powered tools to conduct financially motivated cyber attacks against entities in India.

user avatarAisha Farooq

MEXC Enhances Security Measures and Capital Reserves

MEXC enhances its security framework and capital reserves by adding 1,000 BTC to its Futures Insurance Fund, aiming to protect user assets and provide a risk buffer during extreme market conditions.

user avatarTenzin Dorje

MEXC Unveils AI Trading Report with Key Insights from Crypto Traders

MEXC has released an AI Trading Report based on a survey of 3,708 crypto traders, highlighting the use of AI in trading strategies and user preferences for control and risk management.

user avatarBayarjavkhlan Ganbaatar

BingX EU Achieves MiCA License to Expand Crypto Services in Europe

BingX EU MEGE zweite GmbH has obtained a MiCA license from Austria's FMA, allowing it to offer regulated crypto services across 29 EEA countries.

user avatarMohamed Farouk

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.