The Pi Network’s main crew is reminding users about the approaching deadline for finishing the Customer Identification (KYC) procedure and moving to the Pi Mainnet.
On January 5th, 2025, the announcement clearly states that all necessary actions should be finished no later than January 31st, 2025. Failing to do so could result in losing access to most of the Pi coins you’ve mined.
The purpose of the KYC (Know Your Customer) process is twofold: firstly, it serves to verify the identities of users; secondly, it helps uphold anti-fraud regulations. Users who fail to complete this process should be aware that most of their Pi holdings may become inaccessible, effectively forfeited. This action is part of the Core Team’s ongoing efforts to preserve the network’s integrity and eliminate fraudulent or automated accounts.
The Pi Core Group is alerting its over 100 million members: The deadline for transition compliance is fast approaching on January 31st. Users who do not adhere to these guidelines within the subsequent half-year timeframe may potentially lose a significant portion of their Pi tokens.
The significance of the reminder lies in the fact that, as of August, only 13 million users had completed Know Your Customer (KYC) verification. This implies that nearly half of the early adopters have yet to complete KYC verification. However, since then, there has been an increase in verified users from August to December. As it stands now, all these early adopters risk losing their mined Pi coins unless they complete the KYC process.
To alleviate a roadblock in Know Your Customer (KYC) verification process, approximately 1.2 million individuals who had been stalled earlier in their KYC application, have recently been given clearance over the past few months.
To aid this user, the Pi team has extended invitations to current verified users, asking them to become validators. They urge users to act promptly to guarantee their transition to the Mainnet, thereby preserving the maximum value of their Pi holdings. With less than a month left, pioneers are encouraged to swiftly secure their participation in the Mainnet and protect their Pi coins.
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2025-01-05 12:20