Pi Coin, a cryptocurrency that has been highly anticipated by its community, has seen its mainnet launch delayed several times. In the latest update, the grace period for Know Your Customer (KYC) verification has been pushed to January 31, 2025.
Initially, the Pi Core Team aimed to have 15 million KYC verifications before transitioning to the Open Network. However, reaching this milestone has been slow, with the figure only reaching 18 million as of December 2024.
Another requirement for the mainnet launch is having at least 10 million customers on the Network. As of December 31, 2025, the reported figure was at 9 million, which led to the grace period being extended once again.
To avoid losing most of your Pi, both KYC and Mainnet migration must be completed by January 31, 2025. Only Pi mined within the rolling window of the last 6 months before your Pi is migrated will be preserved.
The Pi Network boasts a large following, with an estimated 60 million sign-ups. Its developers also claim that 27,000 businesses have already agreed to accept the coin for transactions.
While these numbers are yet to be independently verified, if Pi coin succeeds in this area, it could gain an advantage over other cryptocurrencies, including Bitcoin.
Many Pioneers (as Pi Network community members refer to themselves) have grown impatient with the continuous postponements of mainnet migration. For a coin that was launched in 2019, the inability to convert it to fiat currency has taken too long.
However, the Pi Core Team anticipates that the Mainnet will go live in the first quarter of 2025. This is positive news for Pioneers, as it will mark the beginning of the utility phase for their coins and the apps built on the network.
For example, the Map of Pi app will allow Pi Coin holders to find businesses that accept the coin for payment. Another app, 1Pi Mall, is an e-commerce platform on the network.
