Pi Network has announced to its users that they need to complete the KYC verification and Mainnet transitions up to 14 March 2025 hours (TSI). However, many Pioneer, because of technical problems, said they could not carry Pi Coin balances to Mainnet. This situation increased the demands of the extension of the time, while criticizing the project management. Users say they are facing the risk of loss of balance.
Mainnet Transition and KYC Problems
Pi Network announced that Grace Period will end this time. During this time, users who do not make KYC verification and do not pass to Mainnet, will lose most of the Pi balances. However, the coins excavated in the last six months will be exempted from this loss.
Nevertheless, many users say that they cannot complete the transition process due to technical errors in the system. Users say that the “Migrate to Mainnet” step cannot be completed and that they could not get a response from the support team. Jaro Giesbrecht stressed that despite fulfilling all the requirements in his share on social media, he could not switch to Mainnet and the system did not take enough steps to solve this problem. Other users also added that most of the balances are still not verified and the system does not provide solutions.
Pi Network is depreciating, Binance listing uncertain
Technical problems in Pi Network, Pi Coin’s price also caused a decrease. PI fell to $ 1.40 by losing 14.5 %in the last week and 10.5 %in the last 24 hours. Although users expect a price increase before the Pi day, which will be celebrated on March 14, the market is currently following a negative course.
On the other hand, it is still unclear whether Binance will list Pi Coin. In the community vote on February 27, the 86 %majority supported the listing of Pi Coin. However, Binance has not yet made an official statement. Pi community reacted to stock markets such as Binance and Bybit, leaving low -points comments. Bybit CEO’s describing Pi Network as fraud increases concerns within the community. On the other hand, the heavy movements of the Binance side of the listing cause investors to react.
