Date: Sat, Feb 01, 2025, 04:03 AM GMT
Pi Network announced on January 31 an extension of its Know Your Customer (KYC) grace period deadline, giving users more time to verify their identities and complete their Mainnet migration. Originally set for January 31, 2025, the deadline has now been pushed to February 28, 2025.
Source: minepi.com This extension aims to help more Pioneers complete their KYC process and ensure their Pi holdings are fully migrated to the Mainnet. If you haven’t completed your verification yet, this is your chance to act before losing a significant portion of your balance.
What Does This Extension Mean for Users?
If you haven’t submitted your KYC application or completed the Mainnet migration, you now have until February 28, 2025, to do so. However, the Grace Period rules remain unchanged:
- If you miss the new deadline, you will lose most of your Mobile Balance—except for the Pi mined in the six months leading up to your migration.
- The extension does not guarantee another delay, so it’s crucial to complete the process as soon as possible.
Will It Affect the Open Network Timeline?
No, Pi Network has confirmed that the Open Network launch is still on track for Q1 2025. The Grace Period extension and the Open Network timeline are independent of each other. This means the launch of the fully decentralized Pi Network will proceed as planned, regardless of the KYC extension.
Source: @PiCoreTeam (X) What Happens If You Miss the New Deadline?
Failing to complete your KYC and Mainnet migration by February 28, 2025, will result in losing any Pi coins mined more than six months before migration. Only the Pi accumulated within the latest six-month period will remain in your balance.
With multiple extensions already provided, Pi Network is urging users to act now to avoid losing their earned Pi. If you’re a Pioneer, this might be your final opportunity to secure your full balance before the Open Network launch.
Final Thoughts
This extension is a last chance for Pioneers who haven’t completed KYC verification. While it won’t impact the Open Network launch, missing the deadline could mean losing a substantial amount of your mined Pi. If you haven’t verified your account yet, now is the time to do it before it’s too late!
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always conduct your own research before making any investment decisions.
