Pi Network Rolls Out New KYC Synchronization Feature Ahead of Pi2Day

Pi Network has introduced a significant update to its Know Your Customer (KYC) process. The network has added a new feature allowing users to synchronize their KYC status with the mining app in case of discrepancies. 

This update comes as excitement builds around the upcoming Pi2Day. Pioneers are eagerly anticipating a major announcement, with speculation ranging from the Pi Network’s listing on Binance to the launch of new ecosystem apps.

Pi Network Introduces New KYC Feature

The new KYC feature is enabled through a ‘Synchronize Status on Mining App’ button. This addresses a long-standing data synchronization issue that the Pi Core Team has been working to resolve. 

“Purpose of the new button: Allows Pioneers to synchronize their KYC status between PiApp and PiBrowser. If your KYC status in the KYC app shows as ‘KYC Passed’ but your mining app doesn’t reflect it, use this button to sync the status. It benefits so many users to complete KYC if any synchronisation issues,” a user posted.

Pi Network’s New KYC Feature. Source: X/Pinetworkmember

After initiating the process, a user’s KYC status gets a “Tentative Approval.” This means that the KYC process is still under review, and further checks are required before the final approval.

This new feature coincides with heightened anticipation surrounding Pi2Day. Pi2Day is celebrated on June 28 each year. It builds on Pi Day (March 14), doubling Pi’s value from 3.14 to 6.28.

It is a significant event for the Pi Network community focused on the network’s progress and development. With less than 10 days left for Pi2Day, the Pi community is increasingly optimistic about a breakthrough.

A poll conducted on X (formerly Twitter) by a Pioneer revealed that over 40% of respondents believe Pi Coin (PI) will be listed on Binance on Pi2Day. PI users have been awaiting this since the launch of the Open Network.

Pi Network Pi2Day Predictions. Source: X/Pibartermall

Despite a community vote in which 86% of users supported Pi’s listing on Binance, the exchange has yet to act on adding PI to its platform. If this occurs, it could significantly boost the token’s liquidity and market presence. 

In addition to the Binance listing speculation, there are rumors that new ecosystem apps will be launched on Pi2Day.

“According to confirmed sources, Pi2Day (June 28) is in the works. A batch of new ecosystem apps will go live. Some of the most-awaited announcements will be revealed!” Pi Barter Mall wrote.

Could Pi2Day Trigger a Price Recovery for Pi Coin?

While these predictions remain speculative, Pi Coin could benefit from any positive sentiment, given its recent market performance. Over the past 30 days, the PI’s price has dropped by 27%. 

At the time of writing, PI traded at $0.54, down 3.3% over the past day. The coin is just 32.8% away from hitting an all-time low.

Pi Coin (PI) Price. Source: BeInCrypto

BeInCrypto also reported a 30% surge in Pi token supply on centralized exchanges (CEXs) in Q2 and a 90% decline in trading volume since mid-May. This has raised concerns about oversupply and potential selling pressure. Despite these challenges, Pioneers remain hopeful for a price rebound.

“The current dip is a blessing in disguise. While some are frustrated, I’m feeling super bullish because I can see that the heavy resistance levels at $0.6 – $0.8 are now diluted by the dip. The rebound is going to be epic, coupled with mega Pi2Day revelations on the way for PI,” Woody Lightyear stated.

Meanwhile, Pi Barter Mall predicts that Pi2Day could trigger a rally for the altcoin. The user expects PI to rebound from its current low, potentially rising to a range of $1-$3 or even reaching a new record high.