The first deadline of the Grace Period that requires KYC application submission has been extended from September 30 to November 30, 2024. The second and final deadline of the Grace Period, for completing migration to Mainnet, remains the same on December 31, 2024. This extension provides Pioneers more time to submit their initial KYC applications for inclusivity within the overall 6-month Grace Period while maintaining community momentum toward completing Pi Network’s Open Network goals.
Key Details:
- Extended First Deadline: The new deadline to submit your KYC application is November 30, 2024. This extension only applies to the first deadline.
- Second Deadline Remains Unchanged: The final deadline to complete your Mainnet Checklist and migrate to Mainnet is unchanged and remains December 31, 2024.
Remember: missing either deadline of Grace Period will result in the forfeiture of most of your past Pi balance other than Pi mined within the rolling window of the last 6 months before your Pi is migrated. 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:
- More time for Pioneers: This change allows more Pioneers to submit their KYC applications, making it possible for more members of the network to become eligible and fully migrate their Pi to Mainnet before Open 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 of the Grace Period.
- Remedy for some timer inaccuracies: In certain corner cases, Pioneers experienced less accurate pauses on their KYC timer. This extension serves as an overall remedy for those with losses of time in these inaccurate 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.
We strongly urge all Pioneers who haven’t submitted their KYC applications to take advantage of this extension and to avoid forfeiting the majority of the Pi they 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.
