The centralized app reached 10 million verified accounts while critics contend it doesn’t benefit users.
The Pi Network app now has more than 10 million users who have verified their identities by completing the Know Your Customer (KYC) process, according to an April 16 announcement.
The Pi team has promised that it will launch a mainnet and that its tokens will become tradeable if a series of milestones are reached, including after 15 million users pass KYC. With 10 million accounts already verified, this implies that the KYC goal will be reached when another 5 million users complete verification.
Despite this achievement, business analytics platform AIMultiple has claimed that Pi may bring "no value to users,” since they “can not yet exchange their Pi coins with fiat currency on exchanges.” Pi Network was launched in 2019 as a centralized app. Users produce Pi tokens by pushing a button from within the app each day, and Pi cannot presently be transferred to other users through a wallet.
