PI NETWORK LAUNCHES SECOND MIGRATION PHASE FOR REFERRAL REWARDS AND v23.0 UPGRADE

Pi Network’s Second Migration Phase allows verified users to transfer referral mining rewards to the mainnet after KYC verification for each referral according to Coinpedia.

The v23.0 upgrade introduces smart contracts and a decentralized exchange (DEX), enhancing Pi Network’s capabilities for DeFi, NFTs, and gaming as reported by AInvest.

Over 119,000 users have completed the second migration, with enhanced security measures like two-factor authentication and stricter verification according to Coinpedia.

Pi Network has officially started its Second Migration Phase, allowing verified users to transfer additional balances to the mainnet after Pi Day 2026. This follows the initial migration stage and opens the door for deeper participation in the ecosystem according to Coinpedia.

The migration enables users to move remaining eligible balances, including referral mining rewards, which were not fully processed before. These rewards are tied to referral team activity, but only bonuses linked to members who pass KYC can be moved according to Coinpedia.

The second migration introduces more complex backend processing and stricter checks, with users required to complete wallet two-factor authentication before any transfer according to Coinpedia. Despite this update, first migrations remain the priority according to Coinpedia.

What is the v23.0 upgrade and what does it entail?

Scheduled for May 18, 2026, the v23.0 upgrade introduces smart contracts and a decentralized exchange (DEX), positioning Pi Network to support DeFi, NFTs, and gaming as reported by AInvest.

The v23.0 upgrade is expected to improve scalability, security, and support for broader Web3 functionalities, including smart contracts according to Coinpedia.

The upgrade includes improved node management, higher transactions per second (TPS), and on-chain KYC to improve security and compliance according to AInvest.

How does KYC verification affect participation in the Second Migration Phase?

KYC verification is mandatory for migration eligibility and referral reward access, ensuring compliance and ecosystem security through verified user validation according to AInvest.

Users with tentative KYC status are ineligible for second migrations, even if they completed their first migration with verified status according to AInvest.

Maintaining an active, verified KYC status is essential for Pioneers who wish to maximize the use of their Picoin according to AInvest.

Pi Network’s KYC-based migration policy reinforces its commitment to creating a secure and compliant blockchain environment according to AInvest.

What are the broader implications of this migration and upgrade for the Pi Network ecosystem?

The v23.0 upgrade is a major milestone for Pi Network, marking a significant shift toward full decentralization according to AInvest.

The migration is part of a broader initiative to increase security, scalability, and real-world utility for the Pi Network ecosystem according to Coinpedia.

Increasing the volume of coins in the Mainnet is a strategic move for Pi Network, laying the groundwork for future applications and real-world utility according to MEXC.

The phased approach reflects a long-term vision of gradual and sustainable development, with the second migration phase enhancing user participation and liquidity within the network according to MEXC.

Users must meet specific requirements, including enabling two-factor authentication for the Pi Wallet and completing KYC procedures, to qualify for the second migration according to MEXC.

These security measures are essential for building a trustworthy and compliant environment according to MEXC.

The inclusion of referral mining bonuses also adds an incentive for users to encourage their networks to complete verification steps, promoting both growth and compliance according to MEXC.