KYC Summited: Pi Network has now been extended—from November 30, 2024 to December 31, 2024 | Check Important Update

KYC Summited: Pi Network has now been extended—from November 30, 2024 to December 31, 2024 | Check Important Update

The first Grace Period deadline has now been extended—from November 30, 2024 to December 31, 2024—to share the same final date as the second deadline. 

The only impact of this extension is to allow more Pioneers to submit their KYC before the new deadline without forfeiting Pi, while maintaining the overall timeframe of 6 months the same as intended for the Grace Period...CLICK HERE TO CONTINUE READING

This change helps ensure that every Pioneer has more than enough opportunity to secure their Pi within the overall 6-month Grace Period while maintaining community momentum toward completing Pi’s Open Network goals.

To reiterate:

Submitting your KYC application is now due on December 31, 2024.

Completing your Mainnet Checklist and migrating to Mainnet is still due on December 31, 2024.

Remember: missing either deadline of Grace Period will result in the forfeiture of most of your past Mobile Balance other than Pi mined within the rolling window of the last 6 months before your Pi is migrated. While the two deadlines are the same, Pioneers should still submit their KYC application as soon as possible, and not wait until the end of the Grace Period since it is still required to migrate to the Mainnet within the same timeframe. 

The extension means that Pioneers will not start losing their Mobile Balance as a result of submitting KYC in December. Remind your Referral Team and Security Circle members to meet their respective deadlines as well. For full details and a comprehensive understanding of the Grace Period, read the original announcement.

Reasons for this extension:

Inclusivity: We’re aiming to have as many Pioneers as possible migrate to Mainnet before the Open Network period, reflecting the principles of collaboration and inclusivity that define our network.

Staying within the 6-Month Grace Period: This extension fits within and does not extend the overall 6-month timeframe of the Grace Period, ensuring that Pioneers have adequate time without compromising the goals and timeline of the Grace Period.

Further remedy for corner cases This extension serves as another overall remedy for those in specific cases by giving them more time overall to submit KYC, without expending too much additional resources and time on refining the timer to solve one case at a time.

If you haven’t completed KYC yet, take advantage of this extended timeframe to submit your application. The Pi app will continue to provide countdown reminders and guidance to help you stay on track, so you can avoid forfeiting the majority of the Pi you mined!

Pi Network aims to transition to Open Network in 2024, contingent upon meeting specific conditions and strategic objectives detailed in the announcement here. This transition hinges on the collective efforts from our community and the impact of external factors. For a full understanding of the requirements that influence our advancement towards the Open Network milestone, please refer to the full announcement.

Source: Pi Network Official

Join Our Whatsapp Channel

Join Our Telegram Channel