- Pi Network made significant strides in 2024, with over 14 million KYC verifications completed and a growing global user base, despite delays in launching the open mainnet.
- The community remains optimistic as the project continues to build its presence, particularly in Asia, while emphasizing security and user safety.
The Pi Network, a project aiming to democratize cryptocurrency mining through smartphones, had a tumultuous 2024 filled with progress and setbacks. Despite the growing anticipation for its native token and open mainnet launch, these crucial milestones remain unrealized, leaving the community divided between optimism and frustration.
Major Developments in 2024
Pi Network achieved several significant milestones this year, even as the long-awaited open mainnet launch remains elusive. The project celebrated 2,000 days since its inception and announced that over 14 million users have successfully completed Know-Your-Customer (KYC) verifications, inching closer to its target of 15 million. However, the migration process has been slow, with only 6 million users transitioning to the mainnet as of August.
To accommodate the remaining verifications, Pi Network extended its KYC deadline multiple times, now set for January 31, 2025. Despite offering resources like a dedicated Telegram chat for users facing challenges, the delays have sparked frustration among some community members.
Global Popularity Despite Delays
While the launch delays have tested the patience of many, Pi Network’s popularity continues to soar, especially in Asia. The app crossed 100 million downloads, building strongholds in countries such as South Korea, China, Vietnam, Singapore, and India.
South Korea alone boasts over 1.34 million Pi Network users, surpassing the local client base of major exchanges like Binance and Coinbase. Such numbers underscore the project’s potential as it garners attention worldwide.
Community Warnings and Vigilance
Pi Network’s growing prominence has also attracted scammers. In response, the team issued safety advisories urging users to rely solely on official channels for information and to use the designated Pi Browser and Wallet for transactions. These measures aim to safeguard users’ tokens and maintain trust within the community.
What Lies Ahead?
The Pi Core Team had hinted at revealing more about the mainnet roadmap by December, but as the year ends, clarity on the token’s future remains scarce. For now, the team encourages users to complete all migration steps promptly to avoid losing their Pi tokens.
Despite the setbacks, Pi Network’s robust community and global appeal suggest a promising future. Whether 2025 will finally deliver the open mainnet remains to be seen, but for now, patience and preparation are key.
