Pi Network Delays Migration Again: What It Means for Community?
Pi Network has extended until February 28, 2025, the deadline for mainnet migration and KYC (Know Your Customer) verification. According to the platform, the main goal of this upgrade is to ensure that everyone has an equal opportunity to join the Pi Network without losing their Pi coin.
Just one day before the much-anticipated mainnet launch, which was initially planned for January 31, 2025, the Pi Network has extended its grace period for the third time. The price of Pi Coin has increased significantly in spite of the prolonged grace period. With a market valuation of $3.38 billion, Pi Coin’s price rose by 10% in just one day, to around $50.
Additionally, the Pi Network has clarified that the Open Network launch, which is still scheduled for Q1 2025, is unaffected by this postponement. The launch schedule will remain unchanged due to the revised grace period deadline, ensuring that everything proceeds as planned.
Pi Network Users Frustrated as Unverified Coins Set to Be Lost
The notification did, however, also make clear that Pi holders will forfeit their coins if they do not finish their KYC and migration by the revised deadline. The Pi will only be retained if it was mined during the six months preceding the migration. Users must move fast to secure their assets before the deadline expires because older amounts will be lost.
On the other hand, the announcement was not well received by the community. The protracted process and the lack of a clear explanation were condemned by prominent groups such as Pi Network (π) Turkey. The announcement caused reactions not only from groups but also from individuals. One user called the project trash, while another complained that she/he could not get Pi back in her/his wallet after KYC for 2 years. It remains to be seen whether Pi Network will make a new statement after all these reactions.
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