Pi Network launched a brand new Fast Track KYC characteristic in an effort to deal with the issue of sluggish verification occasions that affect token claims. Many neighborhood members are hoping that this replace will pace up their entry to Pi tokens as they await the following stage of the mainnet migration.
Pi Network Rolls Out Faster KYC Process
In a latest blog post, the Pi Core workforce introduced a brand new “Fast Track KYC” characteristic, constructed utilizing extra AI within the KYC movement. In the previous, Pioneers needed to full a minimal of 30 mining classes in an effort to be certified to submit a KYC utility. For new customers wanting to entry the mainnet ecosystem, this course of resulted in protracted delays.
Pi Network would allow early verification and mainnet pockets activation for even new customers and non-users with Fast Track KYC.
Once accepted, members can interact with Pi apps, native commerce, and ecosystem occasions instantly. However, till customers end the usual migration guidelines, which nonetheless requires full KYC, balances gained’t be moved to the mainnet.
Importantly, Fast Track KYC is an inside answer constructed into the Pi Wallet app. This supplies customers with a safe, unbiased pathway that doesn’t rely solely on third-party companies like Banxa. Pi Core Team emphasised that the brand new system doesn’t compromise high quality. Applications can be rejected in the event that they fail to fulfill regular KYC requirements.
The neighborhood has acquired the replace nicely, though sluggish migration timelines proceed to fret many Pioneers. Some customers interpret Fast Track KYC as a sign that the eagerly anticipated migration is about to occur. This offers contemporary hope that pending tokens will quickly be unlocked.
As CoinGape beforehand reported, the Pi Core Team made a mainnet migration hint, reminding members to double-check step three of the Mainnet guidelines.
Ecosystem Developments Boost Confidence
Beyond KYC enhancements, the undertaking is constructing on its community framework. Pi Network recently integrated Stellar’s Protocol v23 on its testnet, confirming block validation at top 20,824,824. While solely a testnet improve, the event demonstrates Pi’s ongoing blockchain optimization.
The workforce has additionally stepped up its visibility. The project was named a Gold sponsor on the TOKEN2049 occasion in Singapore. Its co-founder, Chengdiao Fan, is scheduled to ship a keynote speech on October 1. With neighborhood members demanding larger openness from the Core Team, the occasion is anticipated to supply extra particulars concerning the undertaking’s roadmap.
Pi Coin can be making strides on the buying and selling entrance. OKX introduced a PI/USDC pair, offering Pi’s world neighborhood with easier liquidity choices. In the meantime, Onramp Money shared that Pi Network can be absolutely supported in over 60 nations by way of its platform.
The latest developments have led to modest positive aspects for the token worth, which is presently buying and selling at roughly $0.36. The community hopes to broaden its attain with this new characteristic, as over 14.8 million customers have already undergone KYC verification and moved to the Mainnet.
