GOOD NEWS! The Road to Open Mainnet 2024: Key Targets and Challenges for Pi Network

Pi Network is on a critical path towards achieving a major milestone: the launch of Open Mainnet (OM) by the end of 2024. With several key requirements to meet, let’s delve into the main targets and the progress made so far.

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Key Requirements for Open Mainnet

To reach Open Mainnet, three primary requirements must be fulfilled:

1. 15 Million KYC-Verified Accounts
2. 10 Million Mainnet Migration Wallets
3. 100 d'Apps on Mainnet

1. Progress on KYC-Verified Accounts

As of PiDay on March 14, there were 9.45 million KYC-verified accounts. By Pi2Day on June 28, this number had increased to 12 million. Over the past three months, there has been a growth of 2.55 million accounts, with an average monthly increase of 850,000 accounts. Based on this average, the remaining target of 3 million KYC accounts could be met within approximately 3.5 months (4 months) after Pi2Day. This suggests that the goal of 15 million KYC-verified accounts could be achieved by October 2024.

2. Mainnet Migration Wallets

On PiDay, March 14, there were 4.64 million Mainnet migration wallets. By Pi2Day, June 28, this figure had risen to 5.8 million wallets, reflecting a growth of 1.16 million wallets over three months. With an average monthly growth rate of 387,000 wallets, reaching the target of 4.2 million additional wallets would take about 10.8 months (11 months) following Pi2Day. This indicates that the target of 10 million Mainnet migration wallets might be met by May 2025.

3. Target of 100 d'Apps on Mainnet

As of PiDay, March 14, there were 50 d'Apps. This number grew to 70 d'Apps by Pi2Day, with an addition of 20 apps in the past three months. With an average monthly increase of 6.67 (approximately 7 d'Apps), and a shortfall of 30 d'Apps, it will take roughly 4.28 months (5 months) post-Pi2Day to reach the additional 30 d'Apps. Thus, the target of 100 d'Apps on Mainnet is expected to be achieved by November 2024.

The Biggest Challenge: Mainnet Migration Wallets

From the calculations above, it is evident that the most significant challenge is reaching the target of 10 million Mainnet migration wallets. The Pi Core Team is meticulously mapping migration wallets, prioritizing regions with lower black market risks for network security. As Pi owners, it is the responsibility of all Pioneers to ensure that we accelerate the migration process. The key to this acceleration is avoiding black market activities.

Collaborative Efforts Needed

Let’s join forces to continue combating the black market by spreading education about the importance of adhering to migration agreements, especially to new Pioneers joining Pi Network. Our collective efforts will play a crucial role in achieving these targets.

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With the important targets ahead and the progress made, Pi Network is on a promising path towards launching Open Mainnet by the end of 2024. By focusing on meeting these requirements and collaborating to fight the black market, the Pi community can realize its ambitious vision.

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Writer @Elena

Elena is an experienced crypto writer who loves to explore the intersection of blockchain technology and financial markets. She regularly provides insights into the latest trends and innovations in the digital currency space.

 

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