Pi Network Mainnet Launch Progresses, Key Milestones

YEREVAN (CoinChapter.com) — The Pi Network mainnet launch is advancing as developers work towards moving from the enclosed mainnet to the public phase. Over 13 million pioneers have completed the Know Your Customer (KYC) verification process, a critical step to ensure user legitimacy. Among them, 6 million pioneers have already migrated to the mainnet, marking a significant achievement in the project.

Developers have introduced a six-month grace period for users still undergoing verification. This extension allows more pioneers to complete their KYC process, a necessary step before the network’s full launch. KYC is one of three key milestones required for the Pi Network mainnet launch.

Key Milestones for Pi Network Launch Date

The Pi Network mainnet launch date depends on achieving three milestones: KYC verification, ecosystem development, and a supportive market environment. With the KYC process well underway, the focus now shifts to developing the ecosystem. Pi Network aims to have at least 100 decentralized applications (dApps) within its ecosystem to provide utility for the Pi token.

Currently, the network hosts approximately 27 dApps across various sectors, including commerce, games, NFTs, and utilities. Reaching the 100 dApps target is crucial for the mainnet launch.

Pi Network (PI) IOU Price Drops 16%, Market Reaction Minimal

The Pi Network (PI) price experienced a significant drop, plunging 16% to a low of $30 on August 12, before recovering slightly to $35. Despite this sharp decline, there was little to no reaction on social media or from the community.

While the Pi Network team continues to focus on updates related to KYC processes and migration, broader concerns like the utility of the Pi coin and the network’s overall roadmap remain largely unaddressed. The lack of communication and the growing presence of scams within the ecosystem have further frustrated users, who are left questioning the project’s long-term viability and security.