Key Takeaways:
- Over 6 million pioneers have migrated to Pi Community’s mainnet, with KYC milestones progressing.
- The PI IOU price dropped 16%, recovering barely to $35, with minimal market response.
- The Pi Community staff focuses on KYC and ecosystem improvement, leaving broader roadmap considerations unaddressed.
YEREVAN (CoinChapter.com) — The Pi Community mainnet launch is advancing as builders work in the direction of transferring from the enclosed mainnet to the general public section. Over 13 million pioneers have accomplished the Know Your Buyer (KYC) verification course of, a crucial step to make sure person legitimacy. Amongst them, 6 million pioneers have already migrated to the mainnet, marking a major achievement within the mission.
Builders have launched a six-month grace interval for customers nonetheless present process verification. This extension permits extra pioneers to finish their KYC course of, a vital step earlier than the community’s full launch. KYC is considered one of three key milestones required for the Pi Community mainnet launch.
Key Milestones for Pi Community Launch Date
The Pi Community mainnet launch date will depend on reaching three milestones: KYC verification, ecosystem improvement, and a supportive market surroundings. With the KYC course of nicely underway, the main focus now shifts to creating the ecosystem. Pi Community goals to have not less than 100 decentralized functions (dApps) inside its ecosystem to offer utility for the Pi token.
At present, the community hosts roughly 27 dApps throughout numerous sectors, together with commerce, video games, NFTs, and utilities. Reaching the 100 dApps goal is essential for the mainnet launch.
Pi Community (PI) IOU Value Drops 16%, Market Response Minimal
The Pi Community (PI) price skilled a major drop, plunging 16% to a low of $30 on August 12, earlier than recovering barely to $35. Regardless of this sharp decline, there was little to no response on social media or from the group.
Whereas the Pi Community staff continues to deal with updates associated to KYC processes and migration, broader considerations just like the utility of the Pi coin and the community’s total roadmap stay largely unaddressed. The shortage of communication and the rising presence of scams throughout the ecosystem have additional annoyed customers, who’re left questioning the mission’s long-term viability and safety.