KYC
- Pi Network Support
- Sylvia
- Justin Wu (Unlicensed)
What is KYC?
Pi Network KYC or “Know Your Customer” is a procedure to first identify and then verify Pioneer identities, to comply with regulations and to ensure that Pioneers within the global Pi Ecosystem are real individuals.
The vision of Pi Network is to build an inclusive and the most widely-distributed digital currency and ecosystem for all Pioneers. Pi Network’s mining mechanism is social-network based and relies on contributions of real Pioneers. Therefore, Pi has a strict policy of one account per person.
This requires a high degree of accuracy to establish that members in the network are genuine human beings, preventing individuals from being able to hoard Pi by creating fake accounts unfairly. KYC thus helps ensure the true humanness of the network.
Who is Eligible for KYC?
General Eligibility: Users may first become eligible to apply for KYC if they have mined Pi for at least 30 days (nonconsecutive). Geographical Coverage: The KYC solution is designed to accommodate users from over 230 countries and regions, ensuring inclusivity across diverse populations.
Ineligibility: A small number of accounts flagged by algorithms as potential violators of terms of service may not be immediately eligible even after 30 days of mining. These cases will be reviewed.
Why is KYC Important?
Identity Verification: KYC helps verify the identity of users, distinguishing genuine accounts from fraudulent ones.
Fair Distribution: It supports Pi’s policy of one account per person, preventing individuals from hoarding Pi through fake accounts.
Regulatory Compliance: The KYC process ensures compliance with international regulations, fostering a compliant and secure environment for all users.
Mainnet Migration: Completing KYC is essential for Pioneers to migrate their Pi balance to the Pi Mainnet and participate in the Mainnet ecosystem.
How Does KYC Work?
Pi Network’s KYC solution addresses accuracy and privacy, while achieving scalability for millions of KYC, wide coverage of diverse populations, and accessibility.
Machine Automation: Machine automation will be responsible for processing, analyzing, and obfuscating Pioneer information.
Human Verification: In certain instances where the user needs further verification after being processed, human Validators may then have to check certain parts of the obfuscated information and submitted documents.
To protect individual Pioneers’ privacy, personal data—except for data that needs further verification—will be properly redacted.
Human Validators will be previously KYC’d Pioneers who opt in to work as a crowdworker in the KYC app to verify information.
To ensure the integrity of the network, certain Pioneers will require additional verification checks before they can fully pass KYC—cautiously allowing as many real human Pioneers as possible to pass KYC, while catching and preventing as many fake and bot accounts as possible. While the Core Team has and continues to release updates to unblock these corner cases, note that this does not apply to the vast majority of KYC applications.
How to Complete KYC
Download the Pi Browser
Download the Pi Browser app created by “Pi Community Company” in the iOS App Store or Google Play Store.
Access the KYC App:
Tap the KYC app in the home screen of the Pi Browser.
Or, enter “http://kyc.pinet.com ” in the address bar located at the top of the Pi Browser.
Prepare Documents:
Have your relevant identification documents ready before starting the process.
Start the Application:
Open the KYC app in Pi Browser.
Follow the on-screen instructions to begin your KYC application.
Document Submission:
Upload clear, readable images of your identification documents as requested. Images and videos should be clear and only contain one person.
Ensure all information is legible and matches your Pi account details. Data entered in the form should be in the same language as shown on the ID document.
Wait for Results
The time needed to get your results depends on several factors, but it can take as little as less than a day.
Keep an eye out for notifications about your KYC application. You may be required to submit additional documentation or appeal certain decisions before your KYC application can be accepted.
KYC for Minors
Age Restriction: Currently, KYC is only available for users 18 and older.
KYC option for Minors: The Pi Core Team has developed a solution for minors:
Minors can enter their date of birth when starting a KYC application
The KYC Grace Period countdown timer will pause for minors until they turn 18.
Grace Period and Countdown Timer
To help prepare the network and accelerate Pi’s progress towards reaching Open Network in 2024, we’ve enacted the Grace Period that requires Pioneers to complete KYC and Mainnet migration within specific deadlines to avoid forfeiting most of your Pi other than Pi mined within the rolling window of the last 6 months before your Pi is migrated.
For Pioneers who became eligible for KYC before July 1st, 2024:
Submit your KYC application in the KYC app in the Pi Browser as soon as possible before January 31, 2024.
Complete the Mainnet Checklist to migrate to Mainnet by December 31, 2024.
In some cases, such as system delays, the Grace Period timer may pause to give you more time. Read the full Grace Period blog to understand how the Grace Period and your specific deadlines work.
Further Information
Check out these resources for more information about KYC: