The Pi Network is gearing up for its highly anticipated Open Network mainnet launch, now projected for the first quarter of 2025. Initially expected to go live by December 2024, the launch was delayed as the project focuses on meeting critical conditions. Founders Chengdiao Fan and Nicolas Kokkalis have emphasized three key milestones necessary for the mainnet rollout.
Pi Network Reaches 18 Million KYC’d Pioneers
In its latest update, the Pi Network announced a significant achievement: surpassing 18 million KYC-verified Pioneers, exceeding the initial goal of 15 million. This milestone addresses the second condition for the Open Network launch.
The core team continues to refine the Know-Your-Customer (KYC) process, introducing updates to resolve tentative cases, facilitate resubmissions, enhance application capabilities, and fix bugs. Despite this progress, the network faces challenges in migrating KYC-verified users to the mainnet.
Migration Shortfall Slows Progress
Currently, only 8 million of the 18 million verified Pioneers have successfully migrated to the mainnet, falling short of the 10 million migration target. The team highlighted that this gap could impact the network's long-term stability, making it critical to meet the migration goal before proceeding with the Open Network launch.
To address this, Pi Network has implemented several improvements in migration capabilities, enabling the migration of over 500,000 Pioneers in just one week. The current system supports the migration of up to 200,000 Pioneers per day, with plans to introduce a new feature allowing users to transfer additional balances to the mainnet. This will help accelerate the overall migration process.
At the current pace, the team expects to surpass the 10 million migration milestone by January or February 2025, paving the way for the mainnet launch.
Additional Mainnet Launch Updates
KYC and Migration: The team has made significant progress in scaling KYC and mainnet migration solutions. While ongoing improvements are planned, these advancements should not hinder the Open Network launch.
External Factors: The team confirmed no external environmental issues that could delay the launch.
Extended Grace Period: To accommodate the delay, the Grace Period deadlines have been extended to January 31, 2025, allowing more Pioneers to secure their Pi Coins.
Preparing for the Open Network
The Pi Network team has made strides in preparing for the Open Network, including:
Deploying over 80 mainnet-ready applications.
Launching an interface for accessing mainnet Pi apps via the Pi browser.
These efforts aim to create a seamless experience for users and developers once the network is fully operational.
In last The Pi Network’s focus on achieving its KYC and migration milestones demonstrates its commitment to long-term stability and success. With progress accelerating, the network is poised for a significant breakthrough in 2025. For Pioneers and investors, the journey to the Open Network launch represents a critical moment in the evolution of this ambitious blockchain project.
