Despite a year of milestones and community engagement, Pi Network’s native token remains unavailable as the blockchain project continues to navigate its journey toward launching the open mainnet. Here’s a detailed look at the year that was for Pi Network.
Key Developments in 2024
- KYC Progress and Deadline Extension:
Pi Network extended its KYC deadline to January 31, 2025, after reaching 18 million verified users, surpassing the initial target of 15 million. However, community frustrations grew as verification delays persisted. - Mainnet Launch Delays:
While the Pi Core Team initially linked the open mainnet launch to achieving KYC milestones, the timeline has seen repeated postponements. The open network remains in limbo, leaving community members questioning the project’s pace. - Global Popularity Soars:
The Pi Network app surpassed 100 million downloads, cementing its status as a global phenomenon, particularly in Asia. Countries like China, South Korea, Vietnam, Indonesia, Malaysia, Singapore, India, and Japan have become strongholds, showcasing the network’s growing reach.
2024 in Review: A Community Divided
The year marked 2,000 days since Pi Network’s launch, yet its blockchain remains inactive. Promises of progress from developers have clashed with growing community impatience, as users grapple with delays in KYC procedures and unclear timelines for token migration.
In August, the Pi Core Team announced 13 million users had completed KYC while 6 million had migrated to the mainnet. By December, the verification figure climbed to 14 million, but persistent technical challenges prompted the extension of the KYC deadline to early 2025.
To address user concerns, Pi Network encouraged those facing issues to seek assistance through dedicated Telegram channels and emphasized completing additional tasks, such as wallet setup and token confirmation agreements, before migration.
The Wait for Open Mainnet
Community members eagerly anticipated the Core Team’s December roadmap update for insights into the open mainnet’s launch. However, as New Year’s Eve approaches, the long-awaited announcement remains elusive, leaving the network’s future timeline uncertain.
Rising Popularity Amid Setbacks
Despite operational delays, Pi Network’s user base continues to expand globally. According to Wu Blockchain, South Korea alone boasts 1.34 million Pi users, surpassing the local customer bases of crypto giants Binance and Coinbase. The network’s popularity highlights its grassroots appeal, even as critics question the project’s prolonged development.
Staying Safe in a Growing Ecosystem
Pi Network’s popularity has also made it a target for scams. In response, the Core Team issued several warnings, advising users to:
- Trust information only from official channels and verified URLs.
- Use the authentic Pi Wallet, identifiable by its purple navigation bar in the Pi Browser, to avoid falling victim to counterfeit wallets.
Looking Ahead
As Pi Network heads into 2025, the focus remains on delivering long-promised milestones. Whether the Core Team can meet community expectations by launching the open mainnet and enabling token trading remains to be seen. For now, patience continues to be the defining virtue for the Pi Network community.
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