Critical Warning Concerning All Pi Network (PI) Users

TL;DR

• Pi Community prolonged its KYC deadline to March 14, warning that customers who miss it might lose a few of their mined tokens.

• The staff launched updates permitting minor identify and cellphone quantity corrections to enhance the KYC course of, although restrictions on repeated appeals stay.

The Vital Steerage

Regardless of launching its Open Community, which made the PI token publicly accessible, Pi Community stays fairly controversial. As an illustration, it retains prolonging the deadline for customers to finish essential Know-Your-Buyer (KYC) verifications and migrate to the mainnet. 

The method, often called “the Grace Interval,” was initially meant to run till the top of February earlier than being moved to March 14. As regular, the extension sparked combined reactions throughout the group, with some members appreciating the extra time whereas others had been pissed off and described the mission as a rip-off. 

Most just lately, Pi Community’s staff advised customers to go the procedures earlier than that date “to keep away from forfeiting most of your Pi apart from Pi mined throughout the rolling window of the final 6 months earlier than your Pi is migrated.”

The builders additional warned that that is the final probability for any Pioneer to finish the required steps to keep away from dropping their previous cell balances. 

Lately, the staff assured that this could be the final deadline extension. Nevertheless, some group members discover this difficult to consider, given Pi Community’s behavior of prolonging such improvement for years. 

Further Recommendation

In addition to giving extra time to customers, the staff behind the mission additionally issued some key updates to enhance the KYC course of.

Final month, it said folks whose Pi account identify and KYC identify don’t match would often have their purposes rejected attributable to their failure to show their possession. To repair the issue, customers ought to resubmit their purposes with corrected particulars or replace their Pi account identify with a penalty of forfeiting a part of their Cellular Stability. 

“Eligible Pioneers embody these whose KYC purposes had been rejected attributable to identify mismatches. Nevertheless, Pioneers are eligible provided that they’ve appealed precisely one time attributable to this rejection cause, and that single enchantment was denied,” the staff said on the time.

Moreover, Pi Community allowed individuals who have made minor typos when placing their cellphone numbers into their Pi account to edit as much as two digits. 

“Permitting solely as much as two digits to vary is to verify the cellphone quantity change won’t be exploited by coverage violators akin to account transfers and gross sales or hackers taking up somebody’s account,” the disclosure reads.