Pi Network’s KYC Deadline Moved Again: Is This Bad News For Pi Users?

Friday 31 January had been marked as the final deadline for Pi Network’s KYC verification, marking a critical step toward the highly anticipated mainnet launch. However, it has now been changed to 28 February 2025 as per their latest tweet on 30 January.

However, the Pi team now says the mainnet launch will still take place in Q1 2025, regardless of the KYC status.

Many verified users had hoped the 31 January deadline would remain unchanged after two previous extensions. Yet, Pi Network has once again frustrated its users.

Previous delays occurred because, while over 13 million users completed verification, only eight million transferred their tokens to the mainnet. Developers have suggested that at least 10 million verified users must migrate their coins before the process concludes.

KYC verification is just one of three milestones required for the network to launch fully. Another key requirement is reaching 100 mainnet-ready applications. In the December update, developers confirmed that 80 applications had been completed, leaving 20 more to be finalized. The third condition, related to external factors, has already been met.

Pi Coin’s current trading status

Pi Coin, which trades as an IOU on select exchanges like HTX, was priced at $44.96 on Friday. This figure remains speculative, as the Pi Network has not officially released its native token. The value reflects market anticipation rather than an official valuation.

IOU tokens act as placeholders, allowing traders to speculate on future prices. The coin’s stability above $40 throughout January suggests growing confidence among users ahead of the KYC deadline.

If developers confirm a mainnet launch in the coming months, prices may rise further. However, another delay could trigger a drop, possibly toward September’s low of $30.

At the time of writing on 31 January, the price of Pi Coin was up 3.49% in the past 24 hours.

Repeated delays and updated launch timeline

Developers have postponed the mainnet launch multiple times. The KYC verification period was initially set to end on 30 November but was extended to 31 December, then pushed again to 31 January due to incomplete migrations. By December, 18 million users had completed KYC, yet only eight million had moved their tokens to the mainnet.

Pi Network co-founder Nicolas Kokkalis has now indicated that the mainnet could go live between February and March 2025. While some users express frustration over ongoing delays, developers emphasize the importance of security, scalability, and application testing before the full transition.

Applications expected at launch

Once the mainnet is operational, users will shift from the testnet to the live blockchain, enabling real transactions with Pi Coin. Developers are preparing over 80 community-driven applications, including Pi Game, Care for Pi, 1pi Mall, and Map of Pi.

Map of Pi could play a crucial role in adoption by serving as a directory of businesses accepting Pi Coin for payments. Its integration may encourage wider commercial use and strengthen the network’s ecosystem.

For now, all eyes are on the next February deadline and whether developers will maintain the schedule or extend it once again.

Further reading

How To Sell Pi Coin

1. 01.

   What is IOU Price?

   

   The IOU (I Owe You) price refers to the speculative value of a cryptocurrency that has not been officially launched. In the case of Pi Coin, some exchanges list it as an IOU token, allowing users to trade based on anticipated future value. However, this price is not the official Pi Coin value, as the network has not yet launched its mainnet or distributed real tokens.

2. 02.

   What is Pi Coin KYC verification?

   

   KYC (Know Your Customer) verification for Pi Coin is the process of confirming a user’s identity to prevent fraud and ensure compliance with regulatory standards. It is a mandatory step for users to transfer their mined Pi tokens to the mainnet once it launches. Without KYC approval, users cannot claim or use their Pi Coins in the future network.