Pi Network Release Important KYC FAQs for Pioneers

Frequently Asked Questions About KYC 

Pi Network’s Know Your Customer (KYC) solution is an essential prerequisite for the open mainnet launch. The software was introduced to verify millions of Pioneers and onboard them to the mainnet ecosystem. 

However, many users have questioned the protocol’s actions in ensuring that the solution is available to all Pioneers in the crypto space. The reason is the KYC slot is unavailable to most users, while the verification process is slow for some who have applied. To address the issues with KYC applications, the Pi core team shared an important update on April 7 via its official blog. 

The blog contained Frequently Asked Questions (FAQ) about the KYC process for confused users, including Pioneers who don’t know how to start the process. The publication contained 11 FAQs that adequately answer the KYC application process issues. 

Other topics like KYC Tentative Approval, were also explained by the core team. Pioneers interested in learning more about the KYC process should visit the protocol’s blog HERE. 

While the blog addresses Pioneers’ doubts and questions, the Pi team also tries to ensure the verification process is smooth. According to the leading media platform on the decentralized mining blockchain, the team has made KYC solutions in different regions to accelerate the process. 

Meanwhile, you can Read BSC News’ KYC guide to begin your verification journey without any lapses. We also have an article outlining users' common errors during the KYC process. 

What is Pi Network?

Pi Network is a mobile mining blockchain with an application that lets people earn Pi coins by doing simple tasks on their phones. However, the project remains in its development stage with delivery of an open mainnet still a matter of speculation, with no launch date confirmed. 

With this in mind, the protocol remains in its testnet stage and will apparently go live when many users (Pioneers) complete the mandatory KYC procedure while the core team works on developing its ecosystem.

Pi Network is also reported to be under investigation by authorities in Vietnam and users should exercise a high degree of caution when interacting with the project and ensure they have conducted sufficient research before doing so.