Pi Network Surpasses 119K Second Mainnet Migrations

Pi Network has initiated a second migration phase, enabling verified users to transfer additional Pi balances to the Mainnet. This update follows a gradual rollout initiated after Pi Day 2026. The second phase focuses on moving referral bonuses on-chain for the first time.

Users must complete identity verification to qualify for this phase. Referral bonuses are transferable only if team members complete KYC verification. Unverified contributions remain in an untransferable balance.

The process prioritizes first-time migrations to ensure network stability. First-time users are given priority to access the Mainnet before second-phase migrations accelerate.

Why Did This Happen?

Pi Network aims to transition from mining to real-world token usage. This migration phase is part of a broader strategy to increase token utility and ecosystem participation. The network is also preparing for smart contract support, with a mandatory node upgrade to Protocol 21.2 on April 6.

The second migration allows verified users to unlock Pi tokens previously held off-chain. This includes referral mining rewards that were delayed due to KYC and computational complexities.

What Are Analysts Watching Next?

The success of this migration phase will depend on user adoption and KYC completion rates. Challenges remain, including delays in verification and the complexity of calculating referral bonuses.

The network is also introducing new tools like the Pi Launchpad and Pi App Studio. These tools aim to expand real-world use cases for the Pi token.

User behavior and adoption trends will shape the network's future. Higher engagement may encourage developers to build new applications, strengthening the ecosystem.

Security steps, like enabling two-factor authentication (2FA), are also required before any migration can occur. These steps help prevent errors and protect user funds.

The phased rollout strategy helps maintain system stability during large-scale user onboarding. However, the rollout has also highlighted operational challenges, including migration delays and access issues.

The gradual approach aims to maintain fairness and stability. It also allows the team to test and refine the system before full deployment.

How Did Markets React?

The migration reflects Pi Network's objective to build an active and functional ecosystem. With more tokens available on the mainnet, the network aims to see increased engagement in decentralized applications.

The market is watching to see how the network scales its operations while maintaining reliability and usability. A successful rollout could enhance the token's value perception.

The mandatory April 6 node upgrade to Protocol 21.2 is a key step toward May's smart contract support. This update will be critical for future developments.

The success of this phase will also depend on Pi Network's ability to scale effectively. Balancing scalability with efficiency remains a key challenge.