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

24X and Standard Chartered Enhance Partnership for Institutional Crypto Trading

24X Bermuda expands its partnership with Standard Chartered to facilitate institutional trading of Bitcoin and Ether, enhancing access to cryptocurrency and foreign exchange.

user avatarKaterina Papadopoulou

Strategy's Dual Approach: Bitcoin Acquisition and Preferred Share Repurchase

On November 9, Strategy announced the acquisition of 1,036 additional Bitcoin alongside the repurchase of approximately 188 million STRC preferred shares.

user avatarMaya Lundqvist

Bitcoin Slips Toward $74,000 After Fed Governor Signals December Rate Hike

Bitcoin's value has dropped significantly, approaching the $74,000 level, as Federal Reserve Governor Christopher Waller voiced clear support for raising interest rates at the upcoming December FOMC meeting.

user avatarLeo van der Veen

MARA Reports Significant Bitcoin Sales and Loan Repayment

MARA disclosed significant Bitcoin sales and loan repayment, marking a strategic shift from holding to monetizing reserves.

user avatarLi Weicheng

US Spot Ether ETFs Face Major Withdrawals on November 9

On November 9, US spot Ether ETFs experienced significant net withdrawals totaling $1.846 billion, primarily driven by BlackRock's ETHA, reflecting ongoing investor concerns about market conditions.

user avatarAisha Farooq

Crypto Firms Rally Behind CFTC in Perpetual Futures Legal Battle

Coinbase, Kalshi, and four other companies filed an amicus brief supporting the CFTC's authority to regulate perpetual futures tied to US stocks amid a significant lawsuit.

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.