Learn all about Pi Network's newly active 6-month KYC grace period and what it means for you starting July 2024.

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// CHAPTERS
If you don't want to watch this entire "Pi Network’s 6-Month KYC Grace Period Explained" video, you can use the timestamps below to jump to the chapter you are most interested in:

00:00 Teaser
00:28 Intro
00:40 What to expect from this video?
00:53 Like & Subscribe
01:09 Pi Network 6-Month KYC Grace Period
04:24 Outro

// DESCRIPTION
Starting from July 1, 2024, Pi Network's 6-month KYC grace period is officially in effect. In this video, Christian Rauchenwald breaks down what this means for every Pi Network user and why it's crucial to complete the mainnet checklist.

Christian Rauchenwald walks you through the latest updates from Pi Network, highlighting the importance of the newly implemented 6-month KYC grace period. This initiative, initially announced in the 2021 whitepaper, is designed to give all pioneers ample time to complete their KYC applications and migrate to the mainnet while instilling a sense of urgency.

The 6-month period is divided into two phases. In the first three months, users must submit their initial KYC application. The following three months are allotted for completing the mainnet checklist and migrating to the mainnet.

The Pi Network app will feature a countdown timer on the mainnet checklist, along with popups and banners to remind users of their deadlines. For existing users, the initial KYC application must be submitted by September 30, 2024, and the mainnet migration completed by December 31, 2024. New users will have their individual countdowns starting from the completion of their first 30 mining sessions, giving them sufficient time to comply with the KYC requirements.

It's crucial to understand that the countdown pauses if an action is pending. For instance, if you’re awaiting KYC eligibility or your application is under review, the timer halts until further action is required from you.

Christian emphasizes that there’s plenty of time for everyone to meet these deadlines. Those who complete all steps within the grace period will have their Pi coins migrated to their mainnet wallet. However, missing the deadlines will result in receiving only the coins earned within the six months prior to the first mainnet migration.

So, it's vital to get started on your KYC process and ensure you complete any outstanding steps as soon as possible. Also, remind your friends to do the same to avoid forfeiting their Pi coins.

For any questions, feel free to leave a comment below or join our community on Discord via the link in the description to discuss Pi Network and other projects with Christian and the community.

Don’t forget to like, subscribe, and enable notifications to stay updated with future videos. Share this video to keep your friends informed about these important changes.

Thanks for watching, and see you in the next video!



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