Over one million “Pioneers” migrate to the Pi Mainnet following the mass adoption of Pi Network’s proprietary KYC solution in June

Palo Alto, CA, Aug. 17, 2022 (GLOBE NEWSWIRE) -- Pi Network, a massive, open community powered by the world’s most widely distributed cryptocurrency that delivers accessibility and enables a robust ecosystem for members, merchants and developers alike, today announced the migration of over one million users to its mainnet blockchain.

Founded in December 2018 by a team of early innovators in blockchain and behavioral technologies from Stanford University, Pi Network is a utilities-based ecosystem of third-party apps, utilized on a mobile web platform, with widespread token distribution. Since its inception, the community—also known as “Pioneers”—has grown to 35M+ members in over 230 countries or regions.

“Formally standing up Pi Network on mainnet is a testament to the incredible community we’ve built in the last three years,” said Dr. Chengdiao Fan, a Founder and Head of Product at Pi Network. “Pi Network’s vision to build the world’s most inclusive peer-to-peer ecosystem and online experience, fueled by Pi, is one step closer to reality.”

In contrast with other blockchains, Pi Network built and grew its community long before launching the mainnet blockchain in December 2021. Since Pi Day, March 14, 2019, the community has been making various contributions to the growth and security of the network, and in the process, mining Pi on their mobile phones through a novel, environmentally friendly mining mechanism. Migrating the Pi balances from the mobile phone app, where they are currently recorded, to the blockchain, while various apps are also set to transition from testnet to mainnet, will enable the peer-to-peer ecosystem to materialize. These apps will be able to tap into a large network of users who have passed KYC and are crypto-ready with cryptocurrency in hand to spend for various services.

CONTACT: Elise Perkins Pi Network 413-658-8151 [email protected]