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- Pi Network has shared new details regarding potential mainnet launch.
- The team is working to meet all conditions to enable the growth.
Pi Network Founders have released important updates as it prepares for the Open Network potential mainnet launch in the first quarter (Q1) of 2025. As CNF reported, the Pi Network anticipated the mainnet to launch by the end of December 2024. However, it could not achieve this, and the team has highlighted three conditions to fulfill before the launch.
Pi Hits 18 million KYC’d Pioneers Milestone
In its recent release, the Pi Network announced that some of these conditions have been met. The network has reached over 18 million KYC’d Pioneers for condition two, surpassing the 15 million goal.
Pi Network founders Chengdiao Fan and Nicolas Kokkalis said the core team continues to improve the Know-Your-Customer (KYC) process. These include the recent updates that addressed tentative cases, resubmissions, application ability, and bug fixes.
While Pi has met its KYC goal, there is still a huge gap in the number of those who have migrated to the mainnet. According to the release, only about 8 million of 18 million KYC Pioneers have migrated to the mainnet.
Thus, the network is yet to achieve its 10 million migration condition. The team anticipates launching the mainnet in Q1 2025 as it cannot leave the many Pioneers out of the launch. Moreover, the team disclosed that the huge shortfall could affect the long-term stability of the network.
The core team has made several improvements in the mainnet migration capabilities to address the migration shortfall. Some solutions have helped migrate over 500,000 Pioneers in the past week alone.
Additionally, the improvement enables about 200,000 Pioneers mainnet migration in a day. The team also revealed plans to introduce a new feature allowing Pioneers to have second and subsequent migrations of their transferable balance. This feature will allow Pioneers already on the mainnet to transfer more of their balances and more Pi of the network migrated on the mainnet.
With its current migration speed, the team expects to surpass the 10 million migration goal by January or February.
More Updates on the Pi Network Mainnet Launch
Regarding Open Network Condition 1, the team said solutions in scaling KYC and mainnet migrations have been provided, as discussed above. They added that more improvements are ongoing but emphasized that it should not stop the Open Network launch.
For Condition 3, the team noted that there are no current external environmental factors to delay the Open Network launch.
Following the timeline change, the core team has extended both Grace Period deadlines to January 31, 2025. This extension would allow more Pioneers to secure their Pi Coins.
Meanwhile, Pi developers have deployed over 80 mainnet-ready apps in preparation for the Open Network launch. Also, they released the interface that makes mainnet Pi apps accessible through the Pi browser.
As disclosed in a CNF update, some analysts predicted that Pi Coin could reach the anticipated $100 target, citing bullish technical support levels.
