In a surprising move, Pi Network has extended its KYC (Know Your Customer) verification and Mainnet migration deadline to February 28, 2025, just one day before its original Mainnet launch date of January 31, 2025. This marks the third extension of its kind, leaving many to wonder: what does this delay mean for Pi Coin and its holders?
Why the Delay?
Pi Network explained the extension in a blog post, stating the decision was made to ensure fairness for all participants. The new deadline gives users additional time to complete the essential KYC verification without risking the loss of their Pi coins. However, the network clarified that the Open Network launch is still scheduled for Q1 2025, so the timeline for the broader ecosystem remains unaffected by the change.
The Consequences of Missing the Deadline
While the extension provides some breathing room, Pi holders must act swiftly. After February 28, 2025, any coins that have not undergone the required migration and KYC process will be forfeited. Only Pi coins mined within the last six months before migration will remain safe. This deadline presents a critical moment for users to secure their holdings, making timely action crucial.
The KYC and Mainnet migration deadlines for the Grace Period have been extended to February 28, 2025, ensuring Pioneers have additional time and opportunity to secure their Pi. Read the full announcement to learn more about the extension and importance of the Grace Period.…
— Pi Network (@PiCoreTeam) January 31, 2025
Pi Coin’s Price Surge
Despite the delay, Pi Coin has seen an unexpected price surge. In just 24 hours, Pi Coin’s value jumped by 10%, reaching nearly $50 with a market cap of $3.38 billion. Traders are closely monitoring price movements as the mainnet launch approaches. Should the launch occur as planned before Q1 2025, Pi Coin has the potential to reach $100. However, if further delays arise, the price could fall towards the $28 mark.
Pi holders now have until February 28, 2025, to complete the necessary steps, but time is of the essence. The countdown has begun—will you secure your coins in time?
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of FXRift.com . Before making any investment decisions, you should always conduct your own research. FX RIFT is not responsible for any financial losses.
