The Pi Network team recently unveiled a three-phase Mainnet migration plan to help move millions of users, known as “Pioneers,” to the open network. The plan focuses on moving mining rewards, security ring contributions, locked tokens, application rewards and some node traffic rewards. However, the plan so far lacks specific deadlines.
The first phase focuses on migrating users who are already ready, including different types of rewards. The second phase involves rewards for referrals, but only for those whose team members are fully authenticated via KYC. The third phase is described as “regular periodic migrations”, which could be monthly or quarterly, but without a specific schedule.
Despite the confusion surrounding the migration, the Pi Coin price saw a 6.5% increase to US$0.65. However, this growth comes at a time when users are facing uncertainty about the migration and transfer of rewards, which may affect future price movements.
Pi Network users are encouraged to watch for official announcements and updates regarding the migration. Completing the KYC and migration process is key to maintaining their Pi balances and taking full advantage of the features of the main network. Failure to follow these steps may result in the loss of most of their Pi, except for those mined in the last six months prior to migration.