Pi Network (Pi) has reached millions of users worldwide as a mobile mining project without decentralization. The main network presence of the crypto project with the main network yet Pi Coin The crypto currency exchange will soon be listed at OKX. However, this development attracted the reaction of users, especially due to delays in the authentication (KYC) process.
Pi Coin owners have been waiting for KYC approval for years
Pi Network, 10 million users recently KYCannounced that it has completed. This announcement points out that the project is preparing to start the main network. However, many early Pi Network users on social media platforms have expected approval for years of authentication processes.
Some users said that they made their KYC applications years ago and that they submitted all the necessary documents, but they continue to wait for approval. “I have been a Pi Network member since 2020. Although my passport and face verification are completed, my KYC application is waiting for approval. I want my application to be approved to contribute to the ecosystem ”.
Another user said that the KYC process became even more difficult with the transition to the main network of the project. Users by mining for years Pi Although Coin has accumulated, it is at risk of not being able to use Coins because of the lack of approval of their authentication. The first KYC verification period would end in November 2023, but this period was extended to December 2024 and then until the end of January 2025. Now, users have only 15 days for KYC, but the approval process still works slowly.
Pyramid system accusation against Pi Network
Pi Network is the focus of criticism due to the prolongation of the development process and the controversial reference system. The fact that most of the project is in the hands of the founding team of the coin distribution is considered to be contrary to the principles of decentralization.
While the project became widespread especially among users in Asia, it was described by some experts as a multi -level marketing system or pyramid scheme. The sustainability of the project is questioned as users have won awards by inviting more people to the project.
Pi Network’s Chinese -based connections and the reference system strengthen these charges. The fact that a project, whose main network is not yet active, is listed in a large stock exchange like OKX, also attracted the reaction of many users. In the past, the project had come up with the unauthorized stock market lists and the continuous postponement of the main network.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and perform their operations in line with their own research.
