Pi Update on Mainnet Migration
Things you should know about PI Network Migration to The Mainnet
- PI Network Migration doesn’t mean that Pi will have Value.
- It doesn’t mean that you can start using your Pi in buying products and services
- It doesn’t mean that Pi will be listed for trading on the exchanges.
- It doesn’t mean that the Pi Liquidity Pool will be launched for Trading Pairs.
Pioneers need to understand that the Migration is about moving your Pi from your Mobile Mining App to your Pi Wallet. Also, this Migration will enable KYC Verified Pioneers to be eligible to transfer their Pi from one user account and from one wallet to another Pioneer’s wallet.
During this period, kindly try as much as possible not to abuse the Right given to you in transferring Your Pi.
For example, don’t take advantage of this eligibility to illegally sell your Pi to people. This is because you can be temporarily blocked or permanently banned out of the Pi Network ecosystem.
You can read more here
Also, be very careful of your Pi account and Pi Wallet because of bad actors/hackers are at the corner of hacking pioneers’ account. Make sure that your log in password and wallet passphrase is saved and safe.
If you find any suspicious activity around your Pi account, kindly check the support portal for help or report it to the core team through your profile page.
Once the Pi utilities is launched, pioneers can start using their pi to buy products from those merchants. Although, this does not mean you can sell your Pi for cash. Kindly wait until the open network.
For example, the Pi locator enables pioneers in Nigeria to access the app or website and use the Pi location to search for physical Pi stores that are available within their region.
It’s most obvious that most physical stores and merchants that accepts Pi in Nigeria will register on the Pimallmetro and Pihub to enable them add their store location for merchants to create awareness to pioneers living within that region. With time, more utilities to accept Pi in all countries and region will be available.
After the Mainnet migration, first lock up Pi will take effect- moving our Pi to the lock up balance and pioneers will have options to lock a portion of their pi for another lock up session. Pioneers can now adjust their lock up configuration. They will be able adjust their lock up percentage from 100% to 25% or increase from 25% up to 200% and also adjust lock up duration from 3years to 2week and 2weeks to 3years. Fine out more here
