Here’s What Happened in 2024

TL;DR

• Pi Community prolonged the KYC deadline to January 31, 2025, with 14 million customers verified (out of the requested 15 million goal).
• Regardless of the delays and confusion concerning the launch of open mainnet, the mission’s app surpassed 100 million downloads. Pi Community has constructed a very stable neighborhood base in Asia, with South Korea, China, Vietnam, Singapore, India, Japan, and extra turning into strongholds.

Pi Community’s Developments This 12 months

The Pi Community neighborhood witnessed a number of updates in 2024 because the group seemingly prepares to launch its open mainnet. In September, the controversial cryptocurrency mission (which claims to permit folks to mine digital property from their smartphones) celebrated 2,000 days since launch, however its native token and fully-operation blockchain have but to go stay.

And whereas the builders behind Pi Community maintain promising that such vital developments are on the horizon, some neighborhood members have began dropping persistence as a result of fixed delays. 

Earlier this 12 months, the group claimed that the primary big milestone was the launch of the open community. They mentioned it’s going to grow to be potential as soon as 15 million customers cross essential Know-Your-Buyer (KYC) verifications and migrate to the mainnet (referred to as the Grace Interval).

In August, Pi Community announced that over 13 million folks had accomplished authentications, whereas 6 million had efficiently migrated. Earlier this month, the group mentioned KYC verifications had reached 14 million. 

Initially, customers had till the tip of September to abide by the foundations. Nevertheless, the deadline was prolonged quite a few occasions and finally pushed to January 31, 2025. Unsurprisingly, the newest delay aggravated many members of the neighborhood, whereas others maintained that they’d skilled critical points when making an attempt to cross KYC procedures. 

It’s price mentioning that Pi Community supplied assist to these battling related issues, advising them to hitch a devoted Telegram chat “the place there can be mods to reply your questions.” The group additionally cautioned that finishing verifications is just one a part of the entire course of. Customers should additionally arrange and make sure the pockets, signal the token affirmation settlement, and conduct different guidelines steps. 

“These steps will be accomplished earlier than KYC, no want to attend. Please full the migration throughout the grace interval, in any other case your Pi could also be thought of deserted and unusable,” the group alerted.

In the meantime, Pi Community customers have been ready for December, when the Pi Core Staff was supposed to shed extra gentle on the mainnet open roadmap (which ought to enable the shopping for and promoting of Pi tokens). Nevertheless, it looks as if there’s little probability for the neighborhood to witness such an essential disclosure earlier than New 12 months’s Eve.

Pi Community’s Recognition on the Rise

Regardless of the dearth of clear details about the launch of the native token and open mainnet, the frustration coming from the neighborhood, and the delays, Pi Community retains rising its reputation globally.

As CryptoPotato reported a number of weeks in the past, the mission’s utility surpassed the main milestone of 100 million downloads. 

Pi Community is especially in style in Asia, the place it has created multi-million communities in nations like China, South Korea, Vietnam, Singapore, India, Japan, and extra.

Not way back, Wu Blockchain revealed that the variety of native Pi Community customers in South Korea reached 1.34 million, which exceeds the home consumer base of well-known crypto exchanges like Binance and Coinbase. In truth, the one two home cryptocurrency-related entities with extra customers are Upbit (4.36 million) and Bithumb (2.24 million).

Customers Ought to Keep Vigilant 

The mission’s big reputation may very well be one cause scammers typically assault the neighborhood. As such, Pi Community’s group issued two warnings to guard its neighborhood. 

First, they urged customers to rely solely on data shared on official channels. The builders additionally offered a devoted security web page displaying all of the sources and URL hyperlinks the neighborhood can check with. 

Second, the group cautioned folks to make use of solely their Pi Wallets within the designated Pi Browser. “Make sure you’re within the right Pi Pockets, not any faux one, to safeguard your Pi. The genuine Pi Pockets can also be visually recognized by a purple coloration within the navigation bar of the Pi Browser with a Pi emblem that includes the Core Staff apps emblem,” the warning reads.