Can I transfer my Pi? What is the timeline for transferring Pi? (2024)

FAQs

Can I transfer my Pi? What is the timeline for transferring Pi? ›

Can I transfer my Pi? What is the timeline for transferring Pi? The network went through three major phases: Bootstrap (3/14,2019 – 3/14,2020), Testnet (3/14,2020 – 12/28,2021) and Mainnet (12/28,2021 – the Present). During the first two phases, transfer of Pi was generally not available across the whole network.

During this period, users are required to complete the KYC process and migrate their Pi to meet the network's requirements. It's important to note that the initial three-month window for KYC submissions is rapidly approaching its midpoint, with the deadline set for September 30, 2024.

After 14 days, you will need to MOVE your available balance in the MIGRATIONS button within your wallet, before you will be able to use your Pi. In the meantime, sit back, relax, and mine Pi while we wait for.

Once your Pi balance is migrated to Mainnet, you can send or receive your Pi to and from other Pioneers or to and from a Pi app in return for their goods or services. For how you can use your Mainnet Pi on the Pi ecosystem, see here.

For those who have completed the mainnet checklist of Pi Network and are in the queue for migration, all that's required is to wait for the migration process to complete. After the migration is finished, a 14-day waiting period begins.

It is possible to change the wallet associated with your Pi account, but it is not possible to transfer the locked Pi coins to another wallet. The locked Pi coins are intended to remain locked until the end of the lockup period, at which point they can be claimed and used or transferred to another wallet.

As announced on the official Pi Network blog, the KYC grace period is a six-month window during which Pi Network users must complete their KYC verification to maintain access to their accumulated Pi coins[1].

It's not uncommon for migration processes to take longer than expected, as unexpected issues can arise during testing and deployment. It's important to be patient and allow the process to take its course to ensure a successful migration.

Pioneers are only allowed one Pi account per person. Pi uses a multi-pronged strategy to safeguard against fake accounts and bots.

Can I transfer PI without KYC? ›

kYC (Know Your Customer) verification is a prerequisite for Pi Network users to transfer their minted Pi Coins to the mainnet, allowing them to perform transactions using the coins.

The coin will become buyable and sellable as soon as the mainnet opens up, but the exact time of when this will happen is unclear; It would be feasible to expect Pi to become available on many of the major exchanges, as well as decentralized ones, whenever the mainnet opens to the public.

The enclosed phase of Pi Network coins prohibits any form of exchange, including buying, selling, or converting them.

The project launched its pre-Mainnet in 2019. It is currently in its closed-Mainnet, meaning it cannot interact with other blockchains. Our Pi coin forecast estimates a price of $0.4 by the end of 2024. Our 2030 Pi coin price prediction estimates a price of $1.05.

In December, Pi announced its plan to go to the Open Network period of Mainnet in 2024 if the community reached a series of conditions including: 15 million KYC'ed Pi users (Pioneers); 10 million people migrated to the Mainnet; 100 real Pi apps that are on Mainnet or Mainnet-ready; continued progress with the Core ...

Once you complete KYC and your Pi Transferable Balance is migrated to the Mainnet blockchain, you may lose all of your Wallet's Pi if you lose this passphrase. The Pi balance visible on the Pi app (your mobile balance) may not be in the Pi Wallet yet.

The grace period, which started in July, ensures that pioneers must submit their initial KYC documents within the first three months and complete the process within six months. Pioneers who fail to complete the KYC process will likely lose their accumulated tokens.

The Pi Network is in the transition stage from Testnet to Mainnet. The Pi Network is planning to move into the Open Network phase of Mainnet in 2024, but a specific transition date has not been set yet. The Pi coin will become available for public sale when the transition is completed.

Please note that if you are planning to buy PI in India, then it is not possible to exchange it as it is still in the testing phase. However, the users who have earned Pi can transfer or withdraw their coins in the third phase which is supposed to be launched soon when Pi moves to a completely decentralized blockchain.

Expected: End of 2024

The team calls their plans “The Countdown to Pi Open Network 2024”, which is suggestive in its own right. A recent tweet also tells us we are close: Check out the new Grace Period in-app reminders that show you your individual KYC and Mainnet migration deadlines.