The Pi Network project faces criticism over ongoing delays in the Know Your Customer (KYC) process, despite plans to list Pi Coin on the OKX exchange.
Pi Coin Holders Have Been Waiting for KYC Approval for Years
Recently, Pi Network announced that 10 million users have completed their KYC processes, indicating readiness to launch its mainnet. However, many early users have voiced their frustrations on social media, indicating that they have been waiting years for KYC approvals. Some claim they submitted their applications years ago, but still await final approval.
Pi Network Faces Pyramid Scheme Allegations
Pi Network has faced criticism for its prolonged development and controversial referral system. The majority of its coin distribution is held by the founding team, contrary to decentralization principles. Some experts have described the project as resembling an MLM system or pyramid scheme, raising sustainability concerns.
Pi Network continues to draw attention from users and experts as it faces criticism for KYC delays and questions regarding its business model. Future progress will require transparency and efficient problem-solving.
