The Pi Network has announced that its mainnet launch, originally planned for December 2024, is now expected to take place in the first quarter of 2025.
The network has set three conditions that must be met before transitioning to its Open Network phase. The Pi Network has made progress in its Know-Your-Customer (KYC) process, with over 18 million KYC-verified users, surpassing its goal of 15 million. However, only 8 million of these users have successfully migrated to the mainnet, falling short of the 10 million migration condition.
The core team has implemented improvements to address this shortfall, enabling the migration of over 500,000 users in the past week. The team expects to reach the 10 million migration goal by January or February 2025.
Additionally, the Pi Network plans to introduce a feature that allows users to transfer additional balances to enhance user engagement and increase the migration of Pi to the mainnet.
The Grace Period deadlines have been extended to January 31, 2025, providing more time for Pioneers to secure their Pi Coins. The Pi Network has deployed over 80 mainnet-ready applications accessible through the Pi browser to enhance the user experience and expand the utility of the Pi Coin.
Market analysts predict that the Pi Coin could reach a target of $100 based on technical support levels and growing interest in the network. The success of the Pi Network's migration goals and application ecosystem will impact the coin's market performance.
The Pi Network's journey towards its mainnet launch reflects the importance of user engagement and technological advancements in the cryptocurrency space. The impact of these developments on the broader cryptocurrency and blockchain landscape remains to be seen.