TL;DR
- Pi Community has as soon as once more prolonged the Grace Interval, sparking issues over the dearth of progress.
- Whereas doubts persist, the venture continues to draw new customers, with sturdy adoption in international locations like South Korea and India.
Nothing Stunning
The workforce behind Pi Community prolonged the deadline for Know-Your-Buyer (KYC) verifications and migration to the mainnet to February 28, 2025. The transfer goals to supply customers with “further time and alternative to safe their Pi.”
The earlier deadline for finishing the aforementioned procedures (generally known as the Grace Interval) was moved a number of occasions and was ultimately set for as we speak (January 31).
Along with the fixed delays, Pi Community has but to launch its native token and open mainnet (regardless of being round for nearly six years), which has triggered frustration throughout the group, and a few members have even described the venture as a rip-off.
In the meantime, the builders defined that the most recent extension operates independently of the Open Community launch timeline.
“It’s potential that Open Community might happen earlier than or after the Grace Interval ends and upholds the Grace Interval’s core aims of equity and accessibility. Submit your KYC software and full your Mainnet Guidelines by February 28, 2025, to keep away from any forfeiture,” the announcement reads.
Pi Community has beforehand indicated that the Open Community will see the sunshine of day in Q1 2025. Considerably expectedly, although, many individuals have their doubts that this would be the case, anticipating additional delays as a substitute of precise progress.
The Reputation is on the Rise
Opposite to the encircling uncertainty, Pi Community continues to draw new members to its ecosystem. Pi Information not too long ago posted pictures from a Megha Occasion in India, throughout which native supporters gathered to debate the venture.
Pi Community has grow to be well-known in lots of international locations throughout the globe, establishing a stronghold in Asia. Nations the place it has gained widespread recognition embody South Korea, Vietnam, Singapore, Japan, China, and others.
Final 12 months, Wu Blockchain revealed that the variety of Pi Community customers in South Korea crossed 1.3 million, which exceeds the native consumer base of main crypto exchanges like Binance and Coinbase. The truth is, the one two home cryptocurrency-related entities with extra customers are Upbit (4.36 million) and Bithumb (2.24 million).
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