Read full ‘special message’ from Pi Network founders, Fan and Kokkalis
Pioneers, we have reached the remarkable achievements of 18 million KYC’d people and 8 million people migrated to Mainnet. Pi Network will launch Open Network in Q1 of 2025! This timeframe will allow the network to have more Pioneers migrated to Mainnet and included in the Open Network, thus reducing the gap of the KYC’d and Migrated Pioneers. It will also support the network in reaching its 10 million migration goal under the Open Network condition. We have always prioritized accessibility and inclusivity, and therefore, we want to give more Pioneers the opportunity to use their Pi once Open Network launches. More Pi on Mainnet also means more engagement and stability in the ecosystem. For more detailed information on the Open Network launch, read on for the full announcement.
Pioneers, we have reached over 18 million KYC’d Pioneers, and over 8 million of them have migrated to Mainnet! Our recent upgrades have also increased the speed of Tentative KYC resolutions and Mainnet migrations, e.g. nearly 200,000 Pioneers migrated to Mainnet in the last day. At this rate, we’ll be able to include millions more Pioneers in the Open Network and surpass the Open Network condition of 10 million Mainnet migrated Pioneers soon, so Open Network can launch as soon as possible in Q1 of 2025!
Open Network Update
This timeline supports the network’s ambitions to not only surpass our Open Network KYC and Mainnet migration goals on the scale of millions but also ensures the inclusivity of more Pioneers, especially KYC’d and tentatively KYC’d Pioneers, in the Open Network event, thus providing the strongest possible foundation for a successful transition.
READ ALSO: Pi Network extends Grace Period by additional 30 days, as users express disappointment
Specifically, we need to reduce the gap between the number of KYC’d and Mainnet migrated Pioneers, relying on both Pioneers’ actions to complete KYC and migration requirements and the system’s speed of processing which has been upgraded to scalably support millions of Pioneers’ KYC and Mainnet migrations. We want to include as many of them as possible in the Open Network!
There are three main reasons why this matters:
Pi Network has always prioritized accessibility and inclusivity. We want as many Pioneers as possible who have been on this journey together to have the opportunity to use their Pi once Open Network launches.
More Pi migrated to Mainnet before Open Network means more engagement and stability in the ecosystem.
The millions of Pioneers who need to migrate to Mainnet may be in your Referral Teams and Security Circles. Their migrations mean you will receive more Pi based on the bonus Pi you mined attributed to them.
After over six years of building, it is essential that Pi gets its Open Network right, even if it requires a bit more time—where the work we’ve put in leads to the goals we aimed for.
The Core Team will keep monitoring the progress of migration and determine the specific Open Network launch timing, striking a balance between the network’s need to transition to the next period of Mainnet and reducing the gap between KYC’d and Mainnet migrated Pioneers. Read on to dive deeper into the updated timeline. We will announce the specific date of Open Network launch in advance of the date to the community.
Open Network Conditions: Reaching and Surpassing Goals!
The Open Network Conditions released in December 2023 were created to ensure that Pi Network has the foundations necessary to succeed in the long-term. We’re excited to share that the progress in completing these conditions has been exceptional due to the collective work of all Pioneers.
KYC and Mainnet Migration Updates
Starting with Condition 2, Pi Network has reached over 18 million KYC’d Pioneers, far surpassing the 15 million goal! The Core Team continues to improve the KYC process, such as with the recent updates that addressed tentative cases, resubmissions, ability to apply, and bug fixes. As we continue to make similar improvements and allow Pioneers with tentative KYC status to reach finality including fully passing KYC, we expect millions more to complete KYC within the next few months.
However, by contrast, over 8 million Pioneers have migrated to Mainnet, which shows a large gap of many millions of Pioneers who have completed a major step (KYC) in the Mainnet Checklist but have not yet migrated their balances. While 2024 was always the goal for Open Network, we cannot leave this many Pioneers out of the launch. This is also especially true because we have not yet reached the 10 million migration goal, and the long-term stability of the network after Open Network will be affected if the gap is too big.
To address this, the Core Team has made breakthroughs in improving Mainnet migration capabilities and has already implemented solutions that have migrated over 500,000 Pioneers in the past week alone and can migrate about 200,000 Pioneers per day onwards once Pioneers complete all Mainnet checklist requirements. So, as the solution continues to process more Pioneers over the next few weeks, the main factor here is time. This also depends on Pioneers taking necessary actions to unblock themselves, such as people in tentatively accepted
KYC status to take actions necessary to resolve their application to finality. We expect to surpass the 10 million migration goal at our current migration speed by January or February.
In addition to this work, a new feature of allowing a Pioneer to have second and subsequent migrations of their transferable balance will also be released soon, allowing Pioneers already on Mainnet to transfer more of their balances, and more Pi of the network migrated on Mainnet!
Grace Period Update: In light of the overall timeline change, we are extending both Grace Period deadlines to January 31, 2025 for the same reason of including more Pioneers and their Pi. This extension is the first extension beyond the initial 6-month period, as the Grace Period was enacted on July 1, 2024 and originally would end on December 31, 2024. Due to the high sensitivity and severe consequences of the Grace Period deadlines, we want to be as allowing as possible for more Pioneers to have the opportunity to secure their Pi by extending the Grace Period deadlines either within the initial 6-month period or in light of the overall Open Network timeline change.
Mainnet and Mainnet-Ready Pi Apps
Over 80 Mainnet or Mainnet-ready apps have been developed by Pi developers! We recently released the interface that makes Mainnet Pi apps accessible through the Pi Browser, and we will make a dedicated announcement on this later. This is the perfect time for apps to improve further and qualify for accessibility via the Mainnet ecosystem interface, so Pioneers can experience an even better ecosystem once Open Network begins.
Updates on Conditions 1 and 3
For Open Network Condition 1, solutions in scaling KYC and Mainnet migrations have been provided as discussed above. Further improvements to these processes to unblock more corner cases is ongoing but should not block Open Network launch.
We’re also pleased to confirm that there are no further delays to the Open Network launch based on the current external environment factors for Condition 3. We will monitor and assess them closely.
Get Excited and Get Ready!
Open Network is the goal we all have been working towards since Pi officially launched its beta on March 14, 2019. We’re spending this time preparing the network so we can experience an ecosystem with long-term stability, sustainability, and utility.
So, in the mean time:
Pioneers should complete any migration requirements in addition to passing KYC to migrate to Mainnet, and should not only complete KYC and Mainnet migration themselves but also encourage their networks to migrate their balances and engage with Pi utilities.
Merchants should integrate Pi and explore various ways of selling their products in local and online commerce via the Pi ecosystem.
Developers should put finishing touches on their apps and apply to migrate their apps onto Mainnet when ready.
Pioneers, we hope you’re as excited as we are with Open Network on the horizon in Q1 2025!
– Chengdiao Fan and Nicolas Kokkalis, the Founders of Pi Network
