Pi Network KYC Progress: Pioneers Encouraged to Speed Up as Total Revealed
A day before Pi2 Day, the Pi Network published an article with the latest information about the project. It revealed a number of planned product launches as well as the initiative’s progress thus far. The most discussed topic, KYC verification, was also covered in depth.
According to the article, the Pi Network platform has engaged over 47 million Pioneers (as of June 27). Around 11.9% of the total Pioneers, that is, 5.6 million Pioneers, have completed their KYC so far.
Revealing this number, the Pi Core Team (PCT) urged Pioneers to complete their KYC verification and transfer to the Mainnet as soon as possible.
Pi Network continues the “KYC for All” campaign
Pi Network unveiled its mass KYC solution on Pi Day 2022, allowing millions of Pioneers to apply for KYC verification. Although many Pioneers were able to complete their KYC in this program, a significant number of users were unable to do so. On Pi Day 2023, PCT presented a solution to this problem.
On Pi Day 2023, the Pi project announced its “KYC for All” program. In this program, all KYC-eligible candidates around the world could participate to verify their identities and get the “passed” status under KYC verification.
Recently, on June 27, the Pi team announced that the KYC for All program will continue with the necessary improvements. Also, the team encourages all Pioneers to complete their KYC and, notably, migrate to the Mainnet once KYC’ed as many just pass the verification process but do not migrate to the Mainnet.
As mentioned earlier, only 11.9% of Pioneers have successfully completed their KYC verification, which is insignificant. For the Open Mainnet to launch, the majority of Pi Network users must be KYC’ed. That’s why the team is also encouraging Pi users to stay KYC approved.
Pi Network has hinted many times that KYC is the major challenge to tackle before the Open Mainnet launch. The public Mainnet rollout is probably going to be put off even more because just 5.6 million Pioneers have completed their KYC.
How can you apply for your KYC verification?
To apply for the Pi Network KYC verification, you will need to have the followings:
- Original copy of a government-issued document,
- Must be 18 years old or above,
- Pi Network account must have at least 30 mining sessions,
- and 5 minutes to complete the process.
Then you may open the Pi Browser app and click on the KYC icon to begin the procedure. In the procedure, you will be asked to enter some legitimate details about you and your location.
You will also have to go through a liveliness check to ensure you are the one who is applying for the KYC verification.
Once you are done, you may hit the apply button to send the application. For your convenience, we have already posted a detailed guide for the PI Network KYC verification process.
Although applying for KYC verification is not difficult, being approved is. After months of waiting for an update, many applicants voice their dissatisfaction with the KYC verification procedure.
Indeed, the time it takes to get a response depends on the number of KYC validators present in your region. The KYC solution works such that your KYC application goes to KYC validators (those who have passed KYC and become validators) in your region.
The PCT is constantly working to improve the system after acknowledging the frustrations brought on by the delayed KYC.
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