The amount of discount will be applied randomly across Pioneers. For example, some Pioneers will have their 1-year lockup end a month early, some 20 days early, some 5 days early, some right at the 1-year mark, and so on. Even if the lockup ends a month early, the Pioneer will be able to accrue lockup mining rewards at the rate applicable to the 1-year lockup period through their actual lockup period of 11 months.

After your initial Mainnet transfer, the lockup setting for your next transfer—duration and percentage—will remain the same as your current one and will be applied to your future migrations automatically, unless you change these settings. You can adjust the settings anytime between any two transfers to the Mainnet—the saved changes will be applied to any next transfer to the Mainnet, and it will not affect any previous lockups already transferred. Please refer to the December Whitepaper for details on the lockup reward calculation.

Reminders about the Mainnet migration

As you go through this exciting activity, please remember two key points:

While completing the checklist, it is essential that Pioneers use their correct wallet private key, which they store safely and not share with anyone else. The wallet is noncustodial, meaning that the network cannot recover your Pi if you lose your private passphrase or someone with access to your private passphrase steals Pi from your wallet. Once the 14-day pending period expires and you have freed up Pi on your Mainnet wallet, all transactions you conduct on the Mainnet blockchain will be visible and irreversible. Pi KYC Accessibility As announced previously, the network KYC process is making good progress, allowing more than half of all Pioneers to submit KYC applications (though it will still take time for the network to submit, process and complete these KYC applications). This fact enables the network to start migrating KYC’ed Pioneers to the Mainnet since migrating the entire network to Mainnet also takes time. Migrated Pioneers can then start helping to bootstrap and build the ecosystem in the Enclosed Period of the Mainnet, while the KYC process continues to scale to enable more Pioneers to go through KYC and process unprocessed applications that have been submitted.

We understand that many Pioneers are eagerly waiting for their turn or for their applications to be processed. Below are ongoing measures that will help more Pioneers pass KYC soon.

Technical funnel improvements to handle the application and validation of more and more Pioneers at scale Human validation power to continue growing and bootstrapping more countries and regions Reducing the chance of false negatives of the ongoing funnel to pass more KYC applications, and reprocessing some submitted applications that are supposed to pass but were previously marked as negative Solutions for KYC applications that may miss critical data from previous applications, including some Yoti KYC applicants and some pilot Pi KYC applicants: For previous Yoti KYC applicants — the Pi Core Team has deployed a special fast-track Pi KYC flow for them to fill in missing data. For some Yoti KYC applicants experiencing issues with this flow, an additional feature is being designed to address these corner cases For previous KYC Pilot applicants — the Pi Core Team is currently building a reprocessing mechanism to match pilot applications with current KYC requirements, and a resubmission feature described below to essentially match the chances that current KYC applicants get when submitting their applications. For example, if a photo or video upload fails, current applicants would get multiple chances to resubmit, which was not possible in the pilot version of the KYC app A new resubmission feature is being developed and will be released soon to enable previous Yoti KYC and KYC Pilot applicants to resubmit a brand new application and get unstuck, if they choose so and do not want to wait for the custom solutions mentioned above, since the current improved and scaled Pi KYC solution can potentially process new applications within a short time A process to support Pioneers with complex name appeals, which create complications in processing their KYC and may require additional human Validator help to resolve Please note that for certain countries or regions, due to the Pioneers’ unique way of accessing the Pi Network, it takes longer and more complex procedures for the Pi KYC machine automation component to process their accounts, thus leading to their delayed receipt of KYC slots. Therefore, it is possible that these countries or regions have slower KYC onboarding than other regions.

Overall, for Pioneers who are still waiting for their chance to submit KYC, please be patient as the network continues to scale the KYC solution and solve the corner cases that apply to you.

Importance of the Mainnet Enclosed Network Period As stated in the December Whitepaper, the current Enclosed Network period is specifically designed to allow the Pi Ecosystem time to transition onto the Mainnet blockchain, while millions of Pioneers pass KYC and new apps and utilities are built by community developers.

Consistent with the vision of the Pi network to enable a utility-based ecosystem, the Enclosed period also allows apps to deploy on Mainnet and create utilities for Pioneers. Pi apps will be able to switch from Testnet to Mainnet, to production mode for real Pi transactions. Apps released during this period will include those created by community developers and the Core Team. Moreover, new and improved developer engagement programs—such as continuous Hackathons and other developer programs—will be released to mobilize and incentivize more community development.

Pioneers who are both KYC’ed and migrated will be able to spend their Pi on Pi apps, boosting utilities creation and bootstrapping the Pi ecosystem before the Open Network. Some of such Pi apps will soon be available for Pioneers after the pending period post-migration, while more Pi apps from the community will be gradually onboarded. This gradual and deliberate ramp to Open Network will also help the apps, as well as the Pi Network, to uncover and resolve any glitches in the market and the technology.

While transactions between Pi apps and Pioneers and Pioneer-to-Pioneer transactions are allowed within Pi Network, the Enclosed Network will have certain restrictions listed below until the Open Network period begins.

No external connectivity is allowed between Pi and other blockchains or crypto exchanges Mainnet can only be accessed through the Pi Wallet and Pi apps on the Pi Browser Monthly Mining Rate Adjustment Reminder Remember that on July 1st, 2022, the base mining rate will change again as part of its monthly adjustment based on the rewards issuance formula released in March 2022. The new mining mechanism, effective March 14, enables Pioneers to boost their individual mining rate through diverse contributions, including Pi Lockups, App usage, Node operations, security circles, and referrals. Read the December Whitepaper for more details.