Hi Pioneers, and Happy Pi2Day 2022!
As part of the celebration, we are sharing with you many exciting news about the network,
and we are looking out into our future together.
In highlight, the network has been growing and evolving at an incredible pace achieving over 35 million engaged members,
widely distributed in almost every country and region of the world.
Our Mainnet Migration is under way.
The majority of the network is able to submit KYC identity verification using the Pi native decentralized KYC solution.
And Pi Network has passed over 1 MILLION KYC’ed Pioneers.
First off, Pi Mainnet migration has begun!
Pioneers who have passed the Pi KYC identity verification can complete all the items on the Mainnet Checklist right now
to enable their Pi Mobile Transferable Balance to be queued for migration to the enclosed Mainnet blockchain.
See the Mainnet Migration announcement linked on the home screen for details on how the migration works.
It is a great success of the community to come to a moment where the mined Pi balance is ready to migrate to Mainnet.
Pi Network has strived to make cryptocurrency accessible worldwide,
allowing Pioneers to mine Pi on the phone with no fiat cost,
through contributing to the network’s growth, inclusion, security, decentralization, utility, stability, and longevity.
Mainnet Migration of Pi balances moves the network now further in this progress in decentralization
and closer to its vision of an ecosystem where Pioneers engage with more Pi applications, use cases and utilities.
Importantly, remember the current Enclosed Period of Mainnet is specifically designed
to allow millions of Pioneers to complete their KYC and transfer their Pi to the Mainnet,
while the community focuses on creating utilities and bootstrapping the ecosystem without any external distractions.
As part of the product support for the Mainnet migration, Pi Network has also released a new version of the Pi Wallet.
This version not only enables Mainnet transactions for Pioneers,
but also has an improved User Interface tailored for Pioneers to track the status of their Mainnet migrations,
view their lockups on the blockchain, and send Pi to and receive Pi from other Pioneers using their public wallet addresses on the Mainnet blockchain.
We’re so excited to see the wallet’s functionality in action!
Let us know what you think, as we’re always interested in hearing your feedback.
Another great news for Pi Network is its scalable KYC process that allowed the Mainnet Migration to begin.
To KYC a massive and widely distributed network like Pi is a very difficult and costly problem
- verifying the identity of millions of people from over 230 countries and regions,
holding different types of ID documents in diverse languages.
Born out of a lack of a complete and feasible alternative in the world,
Pi KYC solution is a unique and proprietary design that combines machine automation and the crowd power of Pi community itself
to solve this difficult problem natively, achieving its desired scalability and geographic coverage.
This native KYC solution, free of fiat cost for all members, is one of our great efforts to deliver on our promise of fairness, inclusivity and utility for Pioneers,
and Pi’s contribution to the world with a capability of verifying massive distributed social networks, getting the world ready for its Web3 era.
Pioneers, we are happy to report that the native, decentralized Pi KYC is scaling as expected.
Over 1 million Pioneers have now successfully KYC’ed.
This is such an exciting achievement given that the mass Pi KYC solution was only released in March.
Over half of all Pioneers are now eligible to apply for KYC,
although it will take some additional time to successfully pass everyone.
Over 125,000 human KYC validators are active every day,
demonstrating the power of Pi community’s crowdsourced and decentralized efforts to process KYC applications.
Over 203 countries are bootstrapped with Validators which represents about 92.6% of the global population.
And with these, over 90,000 KYC applications can be processed each day,
which is actually expected to increase as both KYC demands and Validators continue to grow.
The speed of the Validation of a KYC application usually takes less than a day,
and can take as little as 10 minutes.
In addition to solving the difficult KYC problem for the network, Pi KYC is a perfect representation of how the entire Pi ecosystem works:
a native, decentralized community where labor is exchanged, and real utility is created, for Pi with no fiat currencies involved.
With KYC, we envision a legally-compliant and utilities-driven application ecosystem
that is integrated into the everyday lives of millions (and later, billions) of Pioneers,
as a truly widely distributed cryptocurrency network.
Now, here are some general updates and progress about the network as a whole.
As we announced before, we have over 35 million engaged Pioneers,
distributed in over 230 countries and regions, and over 20,000 Pi Testnet nodes.
Core Team has been continuously growing with currently more than 40 people
working on Pi Network’s technologies, products, ecosystem and community and more.
Also, the Pi community has more than 250 volunteer Moderators helping Pioneers in over 50 languages in the Pi chat rooms!
And thanks to every Pioneer for helping Pi Network grow to where it is today.
Now that Pioneers are KYC’ing and migrating their balances to Mainnet,
the focus will be to build the Enclosed Mainnet, propelling the Pi ecosystem forward.
Remember what the current Enclosed Network period of Mainnet means –
it allows the network to have time for verifying the identities and migrating millions of Pioneers to Mainnet,
while the community focuses on creating utilities and bootstrapping the ecosystem without any external distractions,
through building and using new Pi apps, transitioning Testnet apps to Mainnet, and completing and improving ecosystem infrastructure.
The Mainnet SDK will be released soon after enough people migrate,
to allow apps to deploy on Mainnet and create utilities for Pioneers.
Pi apps will be able to switch from Testnet to Mainnet,
to production mode essentially for real Pi transactions.
Apps released during this period will include both those created by community developers and the Core Team.
Pioneers who have migrated to the Mainnet will be able to spend their Pi on Pi apps,
boosting utilities creation, and bootstrapping the Pi ecosystem before the Open Network.
Some of such Pi apps will soon be available for Pioneers,
while more Pi apps from the community will be gradually onboarded.
We’re looking forward to seeing community apps, such as some of the 2021 Pi Hackathon winners,
as well as some Core Team apps, to all to come online for Pioneers to use.
Moreover, Pi Network is happy to announce that we will also be hosting ongoing scalable online Hackathons
because the Core Team is turning the Brainstorm app into an automatic scalable Hackathon system that involves blind peer-review processes.
The ongoing Hackathon system is meant to further surface excellent community development
and support the overall apps ecosystem.
Also as part of the celebrations for Pi2Day, we will have an online Pi Art festival,
showcasing Pioneers’ creativity and passion for Pi.
All in all, with efforts from each Pioneer, Moderator, KYC Validator and the Core Team,
we have come to this exciting historical moment.
This is an incredibly exciting time for Pi Network,
as we transition the Pi ecosystem into a fully functional ecosystem on the Mainnet blockchain.
And Pioneers, we want to emphasize that there is never a shortcut to true lasting success,
whether it is for an individual or a network, whether it is in history or at present day,
whether it is crypto or non-crypto.
Great things take time and persistent efforts to build.
We hope all Pioneers share the same spirit -
see through the noises, the ups and downs of the outside world, keep building, focus on substance and persevere in good or bad times -
to create by ourselves what we strive to achieve.
Thanks everyone, all Pioneers, again for your continued support, dedication, and engagement in our shared Pi journey.