{"id":24185,"date":"2024-11-28T09:03:04","date_gmt":"2024-11-28T09:03:04","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=24185"},"modified":"2024-11-28T09:03:04","modified_gmt":"2024-11-28T09:03:04","slug":"major-pi-network-pi-update-affecting-all-users-details","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=24185","title":{"rendered":"Major Pi Network (PI) Update Affecting All Users: Details"},"content":{"rendered":"

TL;DR<\/strong><\/p>\n

Pi Network has extended \u201cthe first Grace Period\u201d for KYC submissions to December 31, 2024, causing mixed reactions from users.
\nThe team claims the Open Network launch is close, with only 1 million more KYC completions needed to hit the 15 million target, though skepticism persists about further delays.<\/p>\n

<\/a><\/span><\/h2>\n

Another Extension<\/h2>\n

Pi Network \u2013 a cryptocurrency project that aims to allow people to mine digital assets directly from their smartphones \u2013 was launched in 2019. In the following years, it amassed a multi-million community, but some members have started doubting its legitimacy.<\/span><\/p>\n

For one,<\/span> Pi Network has still not launched its native token and <\/span>open<\/span> mainnet.<\/span> Earlier this year, the team assured that such developments would occur once all users had passed Know-Your-Customer (KYC) procedures. Initially, they had until late September to do so, but later, the period was extended to November 30.<\/span><\/p>\n

Most recently, Pi News (the leading blockchain media platform behind Pi Network) <\/span>revealed<\/span><\/a> the deadline to submit KYC applications (known as \u201cthe first Grace Period\u201d) has <\/span>been moved<\/span> to December 31.\u00a0<\/span><\/p>\n

\u201cThe final Grace Period deadline has not changed and is still December 31, 2024. This extension ensures all Pioneers have ample opportunity to secure their Pi while maintaining the overall timeframe of 6-month Grace Period unchanged. Submit your KYC application and complete your Mainnet Checklist by December 31, 2024, to avoid any forfeiture. Take action now \u2013 don\u2019t wait,\u201d the announcement reads.<\/span><\/p>\n

Somewhat <\/span>expectedly<\/span>, the latest extension caused mixed reactions. Some X users commenting on the post thanked for the provided details, while others called the project \u201ca scam\u201d due to the constant delays and broken promises.\u00a0<\/span><\/p>\n

What About the Open Network?<\/span><\/h2>\n

Pi Network\u2019s team has indicated that the launch of the Open Network is also near. It claimed the development <\/span>will<\/span> see the light of day once 15 million people complete the necessary KYC verification. Earlier this month, Pi News <\/span>disclosed<\/span><\/a> that just 1 million individuals\u00a0are needed to complete the target.<\/span><\/p>\n

Recently, the team <\/span>shared<\/span><\/a> important guidelines for migrating to the mainnet, highlighting that completing KYC procedures is only part of the process. Users are encouraged to set up and verify their wallets, sign the token confirmation agreement, and conduct additional steps on the checklist.<\/span><\/p>\n

\u201cThese steps can be completed before KYC<\/span>, <\/span>no need to wait. Please complete the migration within the grace period<\/span>, <\/span>otherwise your Pi may be considered abandoned and unusable,\u201d the warning reads.<\/span>\u00a0<\/span><\/p>\n

Meanwhile, the community is waiting for December, when the Pi Core Team is\u00a0<\/span>supposed<\/span><\/a> to share information on the open mainnet roadmap, which would enable official Pi token transactions. We\u00a0have yet to see if everything will go as promised or if there will be another delay.<\/span><\/p>\n

\u00a0<\/span><\/p>\n

The post Major Pi Network (PI) Update Affecting All Users: Details<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR Pi Network has extended \u201cthe first Grace Period\u201d for KYC submissions to December 31, 2024, causing mixed reactions from users. The team claims the Open Network launch is close, with only 1 million more KYC completions needed to hit the 15 million target, though skepticism persists about further delays. Another Extension Pi Network \u2013 […]<\/p>\n","protected":false},"author":0,"featured_media":24186,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-24185","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/24185"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=24185"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/24185\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/24186"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=24185"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=24185"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=24185"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}