According to the statement, more than 18 million pioneers have completed the KYC verification process and this number is rapidly increasing day by day. While it was stated that more than 200,000 users completed the KYC process every day, the developers postponed the deadline, which was previously set as December 31, to January 31. This is the second postponement since late November.

The KYC process aims to ensure that Pi Network is used only by real users and to remove bots from the system. The developers emphasized that the process is critical for the fair distribution of Pi coins.

Developers stated that Pi Network’s Open Network launch could take place in the first quarter of 2025. However, this date is not certain. According to previous planning, the mainnet transition was expected to take place in December.

In the statement, it was stated that 15 million pioneers have completed the KYC process so far, but only 8 million have moved to the mainnet. It is estimated that the mainnet launch has been delayed because the targeted number of 10 million users has not yet been reached.

The mainnet launch will be a turning point for Pi Network. The project has been in development since 2018 and started operating on the closed mainnet in December 2021. During the closed mainnet period, pioneers could continue mining, but Pi coins were closed to trading. This restriction is expected to be lifted with the launch of the open network.

The delay in the mainnet launch appears to have impacted the market performance of the Pi coin IoU token. While the token was traded close to $100 in October, it has now fallen to $44.

According to the developers, market conditions must also be supportive for the mainnet launch to happen. The current selling pressure in Bitcoin and altcoins may cause the launch to be postponed to a later date.

In addition, the number of applications in the Pi Network ecosystem is another determining factor. The developers were aiming to have 100 apps ready by the mainnet launch, but only 80 apps are currently active. It seems difficult to complete the remaining 20 applications by March.

The Pi Network community is eagerly awaiting the long-awaited mainnet launch. While developers continue to work to speed up the process, they also want to ensure the long-term success of the ecosystem. Therefore, both market conditions and user verification processes are carefully evaluated.

As a result, although a clear date has not been given for the Pi Network mainnet, the statements of the developers show that the project is about to take big steps. With the support of the community, the first quarter of 2025 could be a turning point for Pi Network.