Pi Network Announces 2024 Launch, 12 Million Pass KYC

After 5-years of uncertainty, the day has finally arrived for over 60-million pioneers who have been mining Pi Network tokens.

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Open Main-net Announced For 2024

For years, the Pi Network core team has avoided any news on an exact date for the launch of the open network.

That all changed today, when, on the teams official website, a post was made stating that the open main-net must launch in 2024, giving the project just 6-months from today, which is also known as Pi2Day.

Many users, especially YouTuber's, have, over the last few days, said the project may never launch and the core team have now revealed a launch within a 6-month time-frame.

Open Main-net Conditions Almost Met

Several updates have now been posted on the already announced main-net conditions, that were posted back in March 2024.

Firstly, 15 million KYC’ed Pioneers are needed to open the main-net and at the time of writing this post, the network currently has over 12 million KYC’d Pioneers, leaving just three million people left to KYC.

Secondly, 10 million Pioneers need to have migrated their transferable balances to Main-net, a process that is usually automatic if you have already have a wallet setup and currently, 5.79 million Pioneers have migrated.

Thirdly, 100 Pi apps, that are on the Main-net or are Main-net-ready, comply with the Pi platform policies and solve a true need and bring utility to the Pi ecosystem and are a distinct application, currently stands at over 70 apps.

Users Must Pass KYC Within Six-Months

One of the most important parts of the announcement can be found under "Upcoming Initiatives Essential for Open Network" which details how the network will give users who are not currently passed KYC, 6-months to do so.

Anyone not passing KYC at the end of the rolling grace period may not be able to migrate their Pi coins to the open main-net, which they clearly state will launch by December 31st 2024.

This Pi will then be offered for mining by people who have already passed KYC and during this six-month period, Pioneers must take all available actions to complete KYC and Main-net migration.

Second Future Migrations & Network Upgrades

Another burning question on the minds of many pioneers, was how their referral balances would be transferred before open main-net and the core team have also answered this.

Second and future Main-net balance migrations are being worked on and on the way, according to the post on the official website, while encouraging already KYC'd pioneers to help their security circle to migrate.

Major KYC Releases & Liveness Checks

Numerous KYC features and improvements to resolve stuck applications and help advance Pioneers to the next stage of their KYC journey have been released over the last few months.

Left-and-right face angles captured in liveness checks have already helped over 1.78 million Pioneers pass the KYC migration process.

Other upgrades included fixing image obfuscation, video conversion failures, face extraction, backside of some ID document processing, ID type selection and ID upload errors and other background technical processes.

Various improvements to help Validators, including improved algorithms and more refined and practical rejection reasons have also been released to facilitate faster and more accurate KYC validations.

Further upgrades are set to help pioneers pass tentative KYC and transition to full KYC status, helping to upgraded the speed of Main-net migrations in the future.

Open Main-net 2024 Summary

With a set time-frame now announced for the launch of open main-net, many pioneers will feel happy to return to the network and once again begin mining coins.

Many more already mining will have the opportunity to pass their KYC if they have not already done so and it will be a very interesting launch for the Pi Network Core Team in the months to come.

With so many pioneers now passed KYC and automatically added to the main-net migration queue, Pi Network is well on its way to becoming one of the worlds largest cryptocurrency's.

Click below to check out a VERY interesting video on Pi Network and whats to come.