Pi Network Surpasses 12M KYC'd Global Users and Announces New Product Updates as Open Mainnet Progress Continues

The Pi Core Team's Open Mainnet progress remains on track due to the incredible contributions and innovations from its community

PALO ALTO, Calif., June 28, 2024 /PRNewswire/ -- Pi Network, a Web3 app ecosystem and developer platform with a community of tens of millions of humans mining and using Pi cryptocurrency, today celebrated the start of Pi2Day festivities with an update on its progress towards Open Network.

In December, Pi announced its plan to go to the Open Network period of Mainnet in 2024 if the community reached a series of conditions including: 15 million KYC'ed Pi users (Pioneers); 10 million people migrated to the Mainnet; 100 real Pi apps that are on Mainnet or Mainnet-ready; continued progress with the Core Team's technical and product updates; and finally, the absence of an unfavorable global external environment.

To date, over 12 million Pioneers have completed identity verification through Pi's native Know Your Customer (KYC) solution, Pi KYC (up from 9.45 million in March), with 5.79M people migrated to the Mainnet (up from 4.5 million in March). In addition, 70 real, distinct Pi apps are either on Mainnet or are Mainnet-ready and solve a true need by delivering further utility to the Pi ecosystem (up from 50 in March).

"Our path to Open Network relies on the collective efforts of the global Pi community," said Dr. Chengdiao Fan, a Pi Founder and Head of Product. "Together, the Core Team, community developers and Pioneers everywhere are working collaboratively to reach Open Network in 2024 and we're pleased to say that we remain on track due to the incredible contributions and innovations from our community."

"Over the past few months, our team's diligent testing, technical optimizations, and numerous revisions have allowed for numerous updates in Mainnet migration, KYC, and other blockchain components like the Pi Node," said Dr. Nicolas Kokkalis, the other Founder and Head of Technology. "These updates set the stage for our ongoing work in upcoming initiatives like the KYC grace period, second and following migrations, Mainnet Node and blockchain work, and more, which all facilitate the community to further progress Pi towards the Open Network in 2024."

Since PiDay last year (March 14, 2023), Pi has grown from 45 million to over 60 million engaged global users and launched a series of major ecosystem updates including:

• Fireside Forum, a Web3 social media app with innovative tokenomics to create, curate, and moderate content.
• Staked DMs on the Pi Chat app, another cryptocurrency integration to facilitate meaningful connections.
• Pi Ad Network, the first actualization of the network's vision of platform-level utilities built on the back of its collective resources such as the community's size and engagement, collective attention, and verified digital identities. The initial version was released in Fireside Forum, and the platform is now being integrated with community Pi apps.

Pi Network anticipates further momentum in 2024 as the Core Team looks to foster further growth in utility and community for all Pioneers globally.

Read more about Pi's progress in their latest announcement here.

ABOUT PI NETWORK
Pi Network is a community of tens of millions of humans mining Pi cryptocurrency to use and build the Web3 app ecosystem. Founded in 2018 by a team of early innovators in blockchain and social computing, with PhDs from Stanford University, Pi Network is a utilities-based ecosystem for third-party apps on a mobile web platform, with widespread (rather than concentrated) token distribution. The blockchain platform offers a mobile-first mining approach, with low financial cost and a light environmental footprint within the crypto space.

SOURCE Pi Network