pi not on the main net:

announcement that is sure to generate jubilation among its close to 50 million users, Pi Network, the world’s most widely circulated cryptocurrency with users in 230 regions that are home to 93% of the world’s population, said it will launch its “open main net” in 2024.

Requirements:




The first condition is to finish preparation work in technology, product, business, and legal requirements. The work to achieve this condition will be primarily done by the Core Team, which comprises more than 35 members. The second is to “reach” a critical mass of KYC identity-verified pioneers on the main net block chain and have diverse utilities of the Pi cryptocurrency in the Pi ecosystem.

Tentatively KYC:




Fifteen million Pioneers have passed KYC including fully and tentatively KYC’ed; and 10 million Pioneers have migrated to the main net; 100 real Pi apps that are on the main net or are main net-ready, comply with the Pi platform policies, solve a true need and bring utility to the Pi ecosystem, and are a distinct application.

The announcement:




This condition will be primarily driven by the decentralised efforts of the community with the Core Team’s support. While the Core Team will continue to provide technical and product support to meet the KYC and migration goals, it will require the community to mobilise itself through decentralised efforts to have more Pioneers join, re-engage, apply, validate and pass in the KYC process, and complete their main net checklist to migrate.
 

The third condition:




Latest announcement said, is the absence of an unfavourable external environment, which would hinder the success of Open Network. It explains, “In short, world events affect currencies, and Pi is no different. While we do not control what happens in the world, we do control our launch and will not jeopardise the community’s hard work and dedication with a reckless move to Open Network. The timing of Open Network will need to incorporate these global factors that are beyond the control of the Core Team or the Pioneer community. These factors include macroeconomic crises, unfavourable legal or regulatory developments, industry uncertainties, pandemics, wars, or any number of unpredictable, uncontrollable, and/or unforeseeable external factors inhospitable to the launch of Open Network.

 Mining rates:




Pi Network gives an explanation of its mining rates: The pre-main net mining mechanism began at 3.14 Pi per hour and halved whenever the network increased in size by a factor of 10x without a definite maximum supply, starting at 1,000 engaged Pioneers. This occurred five times before the main net phase launched on December 28, 2021, when a new mining mechanism along with a clear supply model was introduced. March 1, 2022, the declining rewards issuance formula based on the supply model took effect, adjusting the system wide base mining rate based on a monthly supply limit defined by the formula and replacing the milestone-based halving explained above.


 This declining rewards issuance formula along with the new mining mechanism (which went into effect on March 14, 2022) balances the network’s need for growth, accessibility