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Pi Network says it has reached a major milestone: more than 18 million users have completed identity verification on its platform. The Pi Core Team frames the result as a competitive advantage over blockchain networks that focus mainly on wallet creation, arguing that verified identities are necessary for meaningful value transfers within decentralized ecosystems.
Pi’s verification system is described as combining AI-assisted fraud detection with human review. The network reports deploying more than one million validators to complete 526 million individual verification tasks.
According to the announcement, each identity submission undergoes about 30 separate checks before approval.
Pi says it has completed its first-ever validator reward distribution, releasing 26.5 million PI tokens to participants. The network estimates validators earned roughly 0.05 PI per task, which it describes as about 22 times the standard mining rate.
At the time of reporting, PI was trading near $0.17, up 3.43% on the day. The token’s total market capitalization was approximately $1.75 billion.
Despite the milestone, some community members report being stuck in a verification backlog. Pi estimates that 44 million users have held “tentative” KYC status at some point, indicating their applications required additional review before receiving full Mainnet access.
The article also notes reports of waits exceeding two years without resolution. It adds that some users say they lost accumulated coins after missing KYC deadlines. Community members warn that clearing the queue could take as long as a decade at the current pace.
Pi introduced a FastTrack verification option and an automated review process, which the article says cleared an additional 3.36 million users. The network also reports that more than 16 million Mainnet migrations have been completed, leaving a remaining gap between verified users and fully migrated accounts.
Pi’s long-term performance, according to the article, will likely depend on how efficiently it resolves these delays for its most dedicated users.
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