Pi Network announced that an additional 3.36 million Pioneers have successfully completed Know Your Customer (KYC) verification, bringing the total number of verified users to around 21.36 million worldwide. The update follows ongoing system reviews aimed at resolving pending KYC cases. This milestone marks a significant step toward Pi Network’s readiness for its Open Network launch, scheduled for early 2025.
KYC and Mainnet Migration
The expansion of KYC adoption brings Pi Network users one step closer to Mainnet migration. By early 2025, Pi Network aims to have 10 million Pioneers fully migrated, with 8 million already completing the process as of December 2024. The recent addition of newly verified users is expected to accelerate progress toward this target. However, more than 11 million verified users are still awaiting migration. The Pi Core Team continues to automate approvals and clear the technical backlog to speed up the process.
KYC Verification and Compliance
The Know Your Customer (KYC) process ensures the authenticity of user identities and prevents the creation of fake or duplicate accounts. Pi Network charges a one-time fee of 1 Pi to keep verification affordable. The system involves document uploads, AI-based verification, and manual review where necessary. These measures align with Pi’s global compliance framework, designed to meet anti-fraud and anti–money laundering (AML) regulations.
About Pi Network
Pi Network, launched in 2019 by Stanford PhD graduates Dr. Nicolas Kokkalis and Dr. Chengdiao Fan, allows users to mine cryptocurrency on mobile devices. By mid-2024, the project had reached a user base of 55 million, making it one of the largest Web3 communities globally.
Currently, Pi remains in a closed Mainnet phase, with plans to open trading and external connectivity once the network achieves key milestones in migration and ecosystem readiness.
The network’s latest system upgrade introduced automated KYC resolution, using AI-driven process checks to validate pending users faster. This automation significantly reduces manual review time and helps clear the queue of millions awaiting approval. Meanwhile, the Pi App continues to serve as the main platform for accessing dApps, with Pi App Studio tools making development easier for creators.
Open Network and Future Outlook
Pi Network expects to surpass 10 million Mainnet migrations by early 2025. Another major prerequisite for the Open Network launch is the active development of over 100 Pi-based applications.
Following a recent request from Pi Network News, many users confirmed new KYC approvals, showing ongoing progress. Analysts believe this milestone will help rebuild community confidence and reactivate inactive users within the ecosystem.
While Pi coins are not yet tradable, the rapid expansion of KYC approvals is a positive indicator. Verified identities enhance transparency and strengthen Pi’s credibility amid earlier doubts about project delays. With over 21 million verified users, Pi now rivals major crypto exchanges in terms of authenticated account numbers—positioning it strongly for a full Open Network transition if migration rates remain steady.
More than 11 million verified Pioneers still need to migrate, with validator capacity limits and regional KYC regulations presenting ongoing challenges. The team also plans to complete smart contract audits before enabling full-scale transactions. These processes are expected to conclude by Q1 2025, according to updates from Pi Network News (@PiMigrate) and official communications on minepi.com.
The latest verification figures align with previous milestones, including the 18 million KYC completions announced in December 2024, with independent analytics confirming a steady growth rate of 3–4 million KYC verifications per quarter.
