Pi Network has extended the KYC submission deadline to December 31, 2024, causing mixed feelings among users. With only 1 million KYC registrations remaining for the Open Network launch, skepticism about potential delays persists. As the community awaits more details in December about the roadmap for the mainnet, users are urged to take immediate action to secure their assets.
In a recent update, Pi Network announced an extension of the deadline for KYC submissions to December 31, 2024. This change, dubbed “the first Grace Period,” has elicited mixed reactions, with users expressing both gratitude and skepticism regarding the project’s ongoing delays. Despite having nearly 15 million KYC completions to launch their Open Network, many are wary about potential setbacks as the team claims only 1 million more verifications are needed to meet the goal.
Originally launched in 2019, Pi Network allows users to mine cryptocurrency from their phones. However, since its inception, doubts about its legitimacy have surfaced, especially as the launch of its native token and mainnet remains outstanding. Earlier deadlines for KYC submissions have been extended several times, with the latest announcement solidifying December 31 as the crucial date for users to secure their assets by completing the necessary verifications and migration steps.
The Pi Network team continues to reassure users that the Open Network launch is imminent, with just 1 million KYC completions required. Recently, guidelines were provided for migrating to the mainnet, emphasizing that users should not delay completing their KYC processes or other stipulated actions. The message highlighted the importance of proactive steps to avoid any risk of their Pi being rendered useless.
As December approaches, the community anticipates further insights from the Pi Core Team regarding the roadmap for the open mainnet, which is essential for enabling transactions of the official Pi token. With so many expectations, users are left wondering whether the promised timelines will hold or if yet another delay will occur, adding to their uncertainty.
Pi Network is a cryptocurrency initiative designed to democratize the mining process by allowing users to mine coins directly on their mobile devices. Introduced in 2019, it has grown significantly, attracting millions of users worldwide. However, despite its ambition, the project has faced scrutiny over its delayed launches of critical components like the native token and open mainnet, raising questions about its long-term viability.
In summary, the Pi Network’s extension of the KYC submission deadline has sparked a wave of mixed responses from its users, illustrating ongoing concerns about the project’s transparency and timeliness. With the goal of launching the Open Network still within reach, the focus remains on completing KYC processes efficiently. The coming months will be crucial in determining whether Pi Network can deliver on its promises or if further delays lie ahead.
Original Source: cryptopotato.com
