NOIDA (CoinChapter.com) — Pi Network continues to be marred by persistent delays in launching its Open Mainnet, causing growing frustration within its community. Initially targeted for Dec. 2024, the mainnet launch has been postponed several times, with the latest deadline set for Jan. 31, 2025.
The delay stems from the project’s ambitious goal of verifying 15 million users through its Know Your Customer (KYC) process. While over 14 million users have completed KYC, only 9 million have successfully migrated their tokens to the mainnet. Despite the extended grace period, doubts linger about whether the project can meet its new deadline, casting a shadow over its ambitious promises of decentralization and scalability.
PI IOU Price Arrests Drop
Meanwhile, the PI USDT pair, or the pair’s IOU trading, saw the token’s price recover from its recent plunge. However, the PI IOU price rally failed to hold on to its daily high of $45.5 on Jan. 23, suggesting bearish pressure near that price level.
PI USDT daily price chart with RSI. Source: TradingviewIf the bulls continue the rally, the Pi Network tokens’ price will face a resistance level near $44. Breaking past the immediate resistance would likely help the PI coin price target the resistance level near $48. However, a continued drop could force the token to the support level near $38.4. Failure of the immediate support level might force the Pi Network coin price to test the support level near $35 before recovering.
The relative strength index for the token remained neutral, with a score of 39.99 on the daily charts. Since Pi Network has not officially launched its token, the PI coin’s price movement is an indicator of its IOU price action.
Pi Network Mainnet Launch A Race Against Time
Pi Network continues to grapple with challenges as it approaches the Jan. 31 deadline. Although over 14 million users have completed KYC, a critical step for network participation, only about 9 million have migrated their tokens—far from the project’s ambitious 15 million-user target.
The team has extended its KYC and migration deadlines multiple times, reflecting their effort to ensure inclusivity and network integrity. Recent updates suggest a strong push toward resolving user issues, with guidelines on reapplying for rejected KYC attempts and improving technical infrastructure for smoother migrations. However, many users have reported delays in KYC processing and token migrations, raising doubts about meeting the latest timeline.
The team insists these measures ensure a secure and scalable network. By prioritizing thorough verification processes, they aim to prevent fraudulent accounts and build a more robust ecosystem. Yet, critics argue that repeated postponements erode trust and highlight inefficiencies in execution. The lack of consistent progress has made many question whether the project can deliver on its promises within the revised timeline.
With only days left before the deadline, meeting the 15 million-user milestone appears increasingly unlikely, hinting at a potential extension. While the project’s focus on inclusivity and security is commendable, the delays risk alienating its user base. The coming weeks will be crucial in determining whether Pi Network can fulfill its objectives or face further skepticism from its community.
The post Pi Network Mainnet Launch Deadline Looms: Another Extension On The Cards? appeared first on Coinchapter.
