Not only is KYC important for the integrity of the network and compliance, but also it makes sure that it is fair for all human Pioneers who have been honestly mining in their own accounts. Achieving this goal is critical because real verified humans on Pi will contribute to the robustness of the network while encouraging the development of various apps for a utility-based ecosystem.
Over the past year, the Pi KYC software has been continuously updated to allow more and more Pioneers to apply, address many different corner cases in the application process, and verify identities of millions of Pioneers to prepare them for their Mainnet migration, while safeguarding the integrity of the network. The KYC progress of the whole network will remain a top priority of the community including the Core Team, Validators and Pioneers, and one of the two primary goals of the Enclosed Network period in the Mainnet Phase.
In the recent celebration of Pi Day, a major software update in the KYC app was also released and introduced in the Pi Day 2023 announcement. We’re providing the following FAQs to elaborate on the Pi Day KYC announcement and overall assist Pioneers on their KYC journey.
KYC FAQs (Frequently Asked Questions)
1. Do you still need to get a KYC slot randomly assigned by the system?
No, anyone except the two scenarios below should be able to visit the KYC app via Pi Browser and start your KYC application without waiting for an invitation. The invitation-based KYC slots assignment was only used in the past, and the process has been updated to allow anyone to start.
- Newly created accounts will not be able to immediately apply for KYC verification, until after mining for 30 days (no need to be consecutive). This helps the network prioritize KYC validation resources for more committed human Pioneers who also have mined enough balance to make sense to go through KYC and migrate to Mainnet.
- A very small proportion of accounts, identified by the algorithms as highly likely fake accounts or accounts that have violations, will not be eligible to KYC. If such account owners think that there is a mistake by the algorithms, they should submit their username for further investigation and potential proof of otherwise by filling in this form here: https://minepi.com/kyc-application-access. Depending on what we receive, we can investigate further.
2. When a KYC slot is opened up for you, will you still get the "KYC slot" popup notification when you start a new mining session?
The KYC popup notification should not be used as the only means by which Pioneers know whether they are eligible to start KYC application or not, although they will likely get a “KYC slot” popup. Pioneers should directly check their KYC eligibility on the KYC app in the Pi Browser (KYC.PI). You can simply open the Pi Browser and navigate to the KYC application. Please use the popup notification as a reminder rather than an invitation.
3. Now that Pi KYC is open for all, how can I apply for KYC?
Downloading the Pi Browser is required to apply for KYC. You can access KYC through the Pi KYC app in the Pi Browser. Make sure to have your relevant identification documents ready!
Pioneers are encouraged to directly check your KYC eligibility on the KYC app in the Pi Browser.
4. KYC Tentative Approval: What does it mean? What is necessary to pass? How long will that take?
The Tentative KYC program, which does not apply to the majority of the network, requires additional verification checks before the Pioneer can fully pass KYC. Tentative KYC approval does not equal full KYC approval, and thus will not yet unlock functionalities (e.g. becoming a Validator, or migrating to the Mainnet) requiring full KYC approval until the additional checks confirm its full KYC approval. However, tentative KYC approval gets the account much closer to full approval.
The reason for the selective Tentative KYC program is to ensure the integrity of the network—cautiously allowing as many real human Pioneers as possible to pass KYC, while catching and preventing as many fake and bot accounts as possible. Not only is this important for the network, but it’s also fair for all human Pioneers who have been honestly mining in their own accounts.
The specific additional verification steps may vary depending on the individual case, and the time it takes to complete them can vary, as well. Factors that can impact the timing include the volume of KYC applications being processed, availability of human validators of the region, complexity of the application, and types of additional checks applied to the tentative KYC case.
5. When the KYC status is "Tentative approval," how long will it take for it to be final "KYC passed"?
The duration of the Tentative Approval status is on a case-by-case basis and depends on the extent and types of additional verifications needed. One of the priorities of Q2 2023 for the KYC app is to iterate and apply such additional checks on the tentative KYC cases.
6. When KYC status is "Tentative approval," can migration to Mainnet happen?
No, you need to fully pass the KYC to be able to migrate to the Mainnet.
7. When KYC is submitted, what screens can you get in the KYC app?
After submitting the KYC application, the Pioneer can expect to see a few different screens in the KYC app. Pioneers may see a screen indicating that the application is “review in progress”. If the KYC application is approved tentatively (meaning it was accepted by Validators pending additional checks), the Pioneer may see a “tentative approval” screen.
If the additional checks further confirm the authenticity of the data and account, a Pioneer will see the “KYC passed” screen. For the majority of applications that are outside of the Tentative KYC program, they will directly see the “KYC passed” screen without the additional checks, if they are accepted
8. As per previous announcements, a submitted KYC application may be approved within 15 minutes if everything is submitted correctly and no name appeal is made. Is this still the case?
Yes, this is still the case as long as Pioneers have completed the required fields correctly and the availability of the human Validators is abundant in the country or region.
9. When will it be possible for KYC Validators to review name change appeals?
For Pioneers who appealed to change their account name (for small name updates), their appeals are either resolved by only machine automation or require the help from human validators to resolve. The first case has already been in place unblocking such applications to proceed in their KYC process. For the second case, human validators will likely be able to review name change appeals in Q2 this year, after the priorities of additional checks on tentative KYC applications and validators performance analysis.
10. My KYC is approved but not reflected in Mainnet Checklist Step 6. When can I proceed and start migration?
The Core Team is aware of this issue affecting some users and are working on resolving the data synchronization issue on the Mainnet Checklist in Q2 this year. In general, always rely on the Pi KYC app for the most accurate KYC status.
11. Overall, why is Pi Network requiring KYC before Mainnet Migration?
The vision of Pi Network is to build an inclusive and the most widely-distributed digital currency and ecosystem for all Pioneers. Pi Network’s mining mechanism is social-network based and relies on contributions of real Pioneers. Therefore, Pi has a strict policy of one account per person.
This requires a high degree of accuracy to establish that members in the network are genuine human beings, preventing individuals from being able to hoard Pi by creating fake accounts unfairly. KYC thus helps ensure the true humanness of the network in addition to compliance with anti-money laundering and anti-terrorism regulations.
Only people who passed the Pi KYC can migrate to the Pi Mainnet. The current Enclosed Mainnet period gives the community time to KYC and migrate to the Mainnet blockchain—a identity-verified, compliant and utilities-driven ecosystem where Pioneers can begin to use Pi for real goods and services.
How To Join Existing Pioneers
Pi is projected to compete with Bitcoin and other Top Cryptocurrecies like Ethereum, Bnb after launch. Kindly follow the instructional steps below to mine pi:
How To Claim your pi? Downloand Pi App And Join Pi Network Below: Pi Network: https://minepi.com/globaltechedu Invitation Code: globaltechedu Or You Can Join Pi Network By Following The Instructions below: 1. Go to google play store and search "Pi Network" 2. Download and install it. 3. Open it and sign up with your Facebook or phone number...(preferably facebook). 4. On the page: who invited you? put "globaltechedu" as the invitation code 5. Then you press the mining button every 24 hours. That's all. Congratulations! You have joined Pi Network and you will be mining and accumulating pi for free. Don't miss out! You Can Read The Instructions On Joining Pi Network From The Blog post Below: https://www.globaltechedu.com/2021/01/pi-cryptocurrency.html
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https://www.youtube.com/channel/UCAtnubkxkdz8cvxfBL3gcIQ
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