Pi Network developers have announced an extension of the mainnet launch period, pushing it to Q1 2025.
According to a post on its official X account, over 18 million pioneers have completed their Know Your Customer (KYC) verification process. The number is steadily increasing, with over 200,000 pioneers completing their KYC verification daily.
Even with this progress, the original aim of 10 million pioneers switching to the mainnet remains unmet, with just eight million successful transfers.
Pioneers, we’ve reached over 18 million KYC’d and over 8 million Mainnet migrated Pioneers! Thanks to recent major speed upgrades, KYC applications and Mainnet migrations are processed faster than ever, i.e. nearly 200,000 Pioneers migrated in the last day. This means Open… pic.twitter.com/tHKdZPTcmv
— Pi Network (@PiCoreTeam) December 20, 2024
Since its introduction in 2018, Pi Network’s novel approach to crypto mining and aim to create a decentralized application ecosystem have drawn millions of users. However, the postponed migration from an enclosed mainnet to an Open Network raised questions about the project’s preparedness and capacity to reach its high goals.
Pi Network’s goal of eliminating fake users and ensuring that only confirmed pioneers get mined tokens depends on this KYC process. Initially set for December, the launch is likely to happen in the first quarter of 2025, according to the latest update by the developers.
This represents a significant delay from the initial schedule. Recall that there was a grace period extension after an earlier deadline change from Nov. 31 to Dec. 31. Pi Network has been functioning within a contained mainnet since December 2021, allowing pioneers to continue mining while the development team focused on creating decentralized apps (dApps) for the ecosystem.
Pi Network Faces Hurdles
The main network launch is a watershed moment for Pi Network, as it will remove the constraints that prevent the sale of Pi coins. However, significant barriers remain; the network presently has 80 mainnet-ready applications, falling short of its aim of 100 upon launch.
Needless to say, this shortage makes a Q1 launch doubtful, as completing the remaining 20 applications within the timeframe could be difficult. Market conditions also provide a substantial challenge for the mainnet launch.