Pi Network Mainnet Launch: It’s here once more! This time, Pi Network has decided at the last minute to move the Mainnet migration and know your customer (KYC) verification deadline to February 28, 2025. With this third expansion, Pi Network caught everyone off guard only a day before the Mainnet’s scheduled January 31, 2025, launch. The trick, though, is that Pi Coin has managed to rise by 10% in just one day in spite of the delay. Now that the date has further been rescheduled, let’s know what Pi network is and what impact the grace period will have on the future? Moreover, we will also learn about the new time of the Pi Network mainnet launch. Discover the true stakes by reading on.
Overview of Pi Network
Through a mobile app, users can mine cryptocurrency with the Pi Network blockchain project. Aiming to make cryptocurrency available to the general public without the need for specialist technology or technical expertise, the initiative was initiated by Stanford alumni in 2019. Pi can be obtained simply by confirming presence on a daily basis using a phone app, in contrast to Bitcoin, which necessitates costly mining equipment.
Pi Network Mainnet Launch Calls for Grace Period Extension
The deadline has been rescheduled from its original expiration date of January 31, 2025, to February 28, 2025. The extension gives Pioneers, who are members of the Pi Network, extra time to finish important procedures for securing their Pi and connecting to the Mainnet. Although the extension of the grace period gives more time for migration and KYC, it has no bearing on the Open Network’s planned debut, which is scheduled for Q1 2025.
The grace period will occur independently of the open network timetable because it is distinct from it. Users who don’t reach the new deadline of February 28 will lose their Pi balance, the core team of Pi warned. The six months leading up to the migration will be used to earn the one Pi that won’t be converted.
Pi Network Mainnet Launch Facilitated a Notable Surge
Pi Coin has had a notable price increase in spite of the prolonged grace period. Pi Coin’s price rose 10% in a single day to around $50, with a $3.38 billion market valuation. Key price levels are being actively watched by Pi Coin dealers as the mainnet launch draws closer. It is possible that Pi Coin will reach $100 if the Pi network mainnet launch takes place prior to the end of Q1. If postponed, nevertheless, it might experience a negative drop below $28.
Final Verdict
More people can complete the procedure and help the Pi ecosystem expand in order to attain inclusion thanks to the extension of Pi Network mainnet launch. By limiting the ability of unverified Pi to move to the Mainnet, this protects the network and serves as a barrier against possible fraudulent activity, denaturing the decentralization and network integrity.
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