Pi Network Announces Second Migration Phase and Mainnet Upgrades to Strengthen Ecosystem

Pi Network has initiated a second migration phase to allow verified users to transfer additional Pi holdings to Mainnet, alongside referral mining bonuses to incentivize user participation and expand the ecosystem according to MEXC.

Node operators are required to upgrade to Protocol 21 by April 6, or risk disconnection from the network, sparking concerns over delayed KYC verification among users as reported by Coinpedia.

Pi Network will participate in Consensus 2026, where it will outline its vision for integrating AI and Web3 technologies on a global stage according to Facebook.

Pi Network launched its second migration phase to enable verified users to transfer additional Pi holdings to the Mainnet, with referral mining bonuses as incentives. This update aims to expand the network's ecosystem and improve user engagement, while maintaining fairness and network stability as detailed by MEXC. The second migration builds on the initial migration phase and allows users to transfer referral mining rewards after completing KYC for their referrals, highlighting the importance of maintaining verified status for both users and their referral teams according to AInvest.

The second migration is being rolled out gradually, with over 119,000 users already completing the process. Eligibility for second migrations is strictly tied to KYC verification status, with users possessing tentative KYC status currently ineligible to participate as reported by AInvest. Pioneers with tentative KYC status must resolve outstanding verification issues before participating in future migrations. This reinforces Pi Network's strategy for navigating regulatory challenges while maintaining fairness and security according to MEXC.

Pi Network has mandated a Mainnet upgrade to Protocol 21, with a hard deadline of April 6. Node operators who fail to update will be disconnected from the network. The upgrade is part of Pi Network's ongoing series of node updates leading toward the v23.0 release scheduled for May 18. Node operators are essential for maintaining network stability, and missing the upgrade deadline could have significant consequences as reported by Coinpedia.

Community members have expressed frustration over delayed KYC verification, with many users waiting for years for confirmation. Some users highlighted that their KYC has been stuck for years due to uncontrollable factors, raising broader concerns about potential network centralization if node participation continues to decline according to Coinpedia. Pi Network has not publicly addressed these concerns, but the importance of verified KYC status in migration eligibility is a key regulatory and security measure according to MEXC.

Pi Network will host an official speaking session at Consensus 2026, a global blockchain event in Miami. The session is scheduled for May 6 at 11:15 AM (EDT) and will last 20 minutes. The session goes beyond an introduction, representing Pi Network's direction and role within the evolving landscape of AI and Web3. By participating in this event, Pi Network will share its vision directly with the global community according to Facebook.

Pi Network remains in its enclosed Mainnet phase, meaning its native coin is not yet tradable on public exchanges, which fundamentally shapes all forward-looking assessments. Analysts often compare its potential growth trajectory to other early-stage networks that successfully transitioned to open mainnets. Experts typically construct models based on potential market capitalization scenarios, drawing parallels with existing cryptocurrencies at similar stages of development and adoption according to MEXC.

Pi Network is a mobile-first crypto built on the Stellar Consensus Protocol (SCP), combining Security Circles and desktop Nodes for low-energy, accessible participation. The network entered Open Network Mainnet on Feb 20, 2025, enabling real on-chain transfers, dApp usage, and ecosystem utility for migrated users. Over 16 million users have migrated to Mainnet, with a 2026 update unblocking ~2.5 million accounts previously stuck in KYC or compliance reviews according to MEXC.

Pi Network has issued a major clarification regarding the eligibility for second migrations, stating that users with tentative KYC status are ineligible to receive additional migrations, even if they successfully completed their first migration. This announcement addresses a source of confusion among users and underscores the critical role of KYC verification in the Mainnet migration process. The statement from a Pi Network moderator clarifies that a tentative status means no migration until the status is restored to green according to MEXC.

Maintaining an active and verified KYC status is essential for smooth migration in the Pi Network, as inactivity or incomplete verification can lead to a tentative KYC status and delays in receiving migrations. The Pi Network migration process operates strictly on a queue system, meaning that regardless of mining history or account seniority, the system processes migrations sequentially based on the order of users in the queue according to MEXC. Pioneers whose accounts are marked as Tentative KYC may experience delays. A tentative status can occur for various reasons, including inactivity, incomplete verification, or system errors according to MEXC.

The migration process faces challenges, including the need for continuous KYC verification and the requirement for two-factor authentication. Additionally, the token price has faced downward pressure due to increased token supply and market conditions. The price decline highlights the importance of real-world utility and deployed applications in maintaining investor confidence according to AInvest. The success of the migration and future utility projects will determine whether Pi Network can achieve its long-term goals of becoming a functional and valuable cryptocurrency in the Web3 ecosystem according to AInvest.