Here’s what happened in 2024

TL;DR

Pi Network extended the KYC deadline until January 31, 2025, with 14 million users verified (out of the 15 million requested target). Despite the delays and confusion surrounding the launch of the open mainnet, the project’s app surpassed 100 million downloads. Pi Network has built a particularly strong community base in Asia, with South Korea, China, Vietnam, Singapore, India, Japan and more becoming strongholds. Pi network developments this year

The Pi Network community witnessed several updates in 2024 as the team appears to be preparing to launch their open mainnet. In September, the controversial cryptocurrency project (which claims to allow people to mine digital assets from their smartphones) celebrated 2,000 days since launch, but its native token and fully operational blockchain have yet to be launched. ‘have started

And while the developers behind Pi Network continue to promise that such significant developments are on the horizon, some members of the community have begun to lose patience with the constant delays.

Earlier this year, the team claimed that the first big milestone was the launch of the open network. They said it will be possible once 15 million users pass the necessary Know-Your-Customer (KYC) checks and migrate to the main network (known as the grace period).

In August, Pi Network announced that more than 13 million people had completed authentication, while 6 million had successfully migrated. Earlier this month, the team said KYC verifications had reached 14 million.

Initially, users had until the end of September to comply with the rules. However, the deadline was extended numerous times and was finally brought forward to January 31, 2025. Unsurprisingly, the latest delay upset many members of the community, while others argued that they had serious problems when trying to pass KYC procedures.

It’s worth mentioning that Pi Network offered help to those with similar problems, advising them to join a dedicated Telegram chat “where there will be mods to answer your questions.” The team also cautioned that completing the checks is only part of the whole process. Users must also set up and confirm the wallet, sign the token confirmation agreement, and complete other checklist steps.

“These steps can be completed before KYC, no need to wait. Please complete the migration within the grace period, otherwise your Pi could be considered abandoned and unusable,” the team warned.

Meanwhile, users of the Pi network have been waiting for December, when the Pi Core Team was supposed to shed more light on the mainnet’s open roadmap (which should allow buying and selling of Pi tokens). However, there seems to be little chance that the community will witness such a major revelation before New Year’s Eve.

The popularity of the Pi network is on the rise

Despite the lack of clear information about the native token launch and open mainnet, community frustration and delays, Pi Network continues to grow in popularity globally.

As reported by CryptoPotato several weeks ago, the project’s app passed the major milestone of 100 million downloads.

Pi Network is especially popular in Asia, where it has built communities of millions in countries like China, South Korea, Vietnam, Singapore, India, Japan and more.

Not long ago, Wu Blockchain revealed that the number of local Pi network users in South Korea reached 1.34 million, surpassing the domestic customer base of well-known crypto exchanges such as Binance and Coinbase. In fact, the only two domestic cryptocurrency-related entities with the most users are Upbit (4.36 million) and Bithumb (2.24 million).

Users should remain vigilant

The high popularity of the project could be one of the reasons why scammers often attack the community. As such, the Pi Network team issued two warnings to protect their community.

First, they urged users to only trust information shared on official channels. The developers also provided a dedicated security page that lists all the sources and URL links that the community can refer to.

Second, the team cautioned people to only use their Pi wallets in the designated Pi browser. “Make sure you’re on the correct Pi Wallet, not a fake one, to protect your Pi. The real Pi Wallet is also visually identified by a purple color in the Pi browser navigation bar with a Pi logo with the Core Team apps logo,” the warning reads.

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