The Pi Core Team's Open Mainnet progress
remains on track due to the incredible contributions and
innovations from its community
PALO
ALTO, Calif., June 28,
2024 /PRNewswire/ -- Pi Network, a Web3 app
ecosystem and developer platform with a community of tens of
millions of humans mining and using Pi cryptocurrency,
today celebrated the start of Pi2Day festivities with an update on
its progress towards Open Network.
In December, Pi announced its plan to go to the Open Network
period of Mainnet in 2024 if the community reached a series of
conditions including: 15 million KYC'ed Pi users (Pioneers); 10
million people migrated to the Mainnet; 100 real Pi apps that are
on Mainnet or Mainnet-ready; continued progress with the Core
Team's technical and product updates; and finally, the absence of
an unfavorable global external environment.
To date, over 12 million Pioneers have completed identity
verification through Pi's native Know Your Customer (KYC) solution,
Pi KYC (up from 9.45 million in March), with 5.79M people migrated to the Mainnet (up from 4.5
million in March). In addition, 70 real, distinct Pi apps are
either on Mainnet or are Mainnet-ready and solve a true need by
delivering further utility to the Pi ecosystem (up from 50 in
March).
"Our path to Open Network relies on the collective efforts of
the global Pi community," said Dr. Chengdiao Fan, a Pi Founder and
Head of Product. "Together, the Core Team, community developers and
Pioneers everywhere are working collaboratively to reach Open
Network in 2024 and we're pleased to say that we remain on track
due to the incredible contributions and innovations from our
community."
"Over the past few months, our team's diligent testing,
technical optimizations, and numerous revisions have allowed for
numerous updates in Mainnet migration, KYC, and other blockchain
components like the Pi Node," said Dr. Nicolas Kokkalis, the other Founder and Head of
Technology. "These updates set the stage for our ongoing work in
upcoming initiatives like the KYC grace period, second and
following migrations, Mainnet Node and blockchain work, and more,
which all facilitate the community to further progress Pi towards
the Open Network in 2024."
Since PiDay last year (March 14,
2023), Pi has grown from 45 million to over 60 million
engaged global users and launched a series of major ecosystem
updates including:
- Fireside Forum, a Web3 social media app with innovative
tokenomics to create, curate, and moderate content.
- Staked DMs on the Pi Chat app, another
cryptocurrency integration to facilitate meaningful
connections.
- Pi Ad Network, the first actualization of the network's vision
of platform-level utilities built on the back of its collective
resources such as the community's size and engagement, collective
attention, and verified digital identities. The initial version was
released in Fireside Forum, and the platform is now being
integrated with community Pi apps.
Pi Network anticipates further momentum in 2024 as the Core Team
looks to foster further growth in utility and community for all
Pioneers globally.
Read more about Pi's progress in their latest announcement
here.
ABOUT PI NETWORK
Pi Network is a community of tens of
millions of humans mining Pi cryptocurrency to use and
build the Web3 app ecosystem. Founded in 2018 by a team of early
innovators in blockchain and social computing, with PhDs from
Stanford University, Pi Network is a
utilities-based ecosystem for third-party apps on a mobile web
platform, with widespread (rather than concentrated) token
distribution. The blockchain platform offers a mobile-first mining
approach, with low financial cost and a light environmental
footprint within the crypto space.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/pi-network-surpasses-12m-kycd-global-users-and-announces-new-product-updates-as-open-mainnet-progress-continues-302186168.html
SOURCE Pi Network