What is Pi Network’s KYC Tentative Approval

A Step Towards Full KYC Approval 

Pi Network’s KYC tentative approval is an important step for Pioneers’ complete verification. The program ensures that Pioneers undergo several verification checks before full KYC is achieved. Therefore, it does not mean full approval. 

Since it is not full approval, Pi Network will not unlock functionalities like becoming a validator and mainnet migration. The protocol will open them if Pioneers are accepted after completing additional verification checks. The Pi core team introduced the program to onboard more real humans into its ecosystem and enhance the possibilities of preventing fake accounts and bots. 

When Pioneers see “Tentative Approval” on the KYC screen after application, it means that it’s pending further checks and verification. However, the time taken to complete the additional checks can vary. Also, the additional checks depend on individual cases. Pi Network outlined the factors that affect the timing in the FAQ publication. 

“Factors that can impact the timing include the volume of KYC applications being processed, availability of human validators of the region, complexity of the application, and types of additional checks applied to the tentative KYC case,” the blog read. 

In conclusion, the tentative KYC program is to confirm the authenticity of data and accounts through additional checks. Once the checks are complete, the Pioneer will see “KYC Passed.” The majority of Pioneers who do not see the tentative KYC screen may still pass KYC directly without the additional checks, if accepted. 

“For the majority of applications that are outside of the Tentative KYC program, they will directly see the “KYC passed” screen without the additional checks, if they are accepted,” Pi Network wrote. 

Refer to the Pi Network KYC FAQ to learn more. 

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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.

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