Pi Network Announces That 18 Million Users Have Been Verified, Is This Truly True?

Pi Network announces that it has surpassed 18 million verified users, marking a competitive advantage over networks that only measure growth based on wallet numbers. A post from the Pi Core Team argues that identity verification is necessary for any value transfer.

How Does Pi Verify 18 Million Identities? The KYC system integrated into the Pi app combines manual reviewers with AI-powered fraud detection capabilities. Over 1 million verified individuals have processed 526 million verification tasks to confirm approximately 18 million unique identities. Each application undergoes about 30 separate checks before approval. This network recently completed the reward distribution for the first verifiers, paying out 26.5 million PI to participants. Verifiers earn about 0.05 PI per task, roughly 22 times the standard mining rate.

As of this writing, PI is trading near $0.17, up 3.43% for the day, with a market capitalization of $1.75 billion according to CoinGecko data. Pending Status and Incomplete KYC Still Pose Challenges Despite this milestone, a significant number of pioneer users remain stuck in waiting. Nearly 44 million users have been in a "temporary" KYC status, meaning their verification process requires further review before full access to the Mainnet. “At this rate, perhaps in 10 years some people will finally see their Pi,” commented a pioneer. Some users report waiting over two years without resolution. Others have lost accumulated funds when their (KYC) verification deadline passed before their application was approved. Pi has introduced the FastTrack option and an automated assessment system, helping fully verify an additional 3.36 million pioneer users. “If eligible, users will see this option directly within the Pi Wallet app, allowing them to start the KYC process and, once verified, gain immediate access to the Pi Mainnet wallet and its utilities,” the development team wrote in a blog post. However, with over 16 million Mainnet conversions completed so far, there remains a gap between the number of verified accounts and fully migrated accounts. Whether Pi’s identity-centric approach will lead to sustainable adoption in practice depends on the speed of resolving the backlog of verification requests, which continues to frustrate their most loyal users.