There will be a rolling grace period of six calendar months for a Pioneer to complete KYC.
Thereafter, the Pioneer loses all the Pi mined outside of the rolling 6-month window and is unable to transfer the lost Pi to the Mainnet.
The retention of the mined Pi in the 6-month window continues indefinitely until they pass KYC or the KYC policy changes.Note that this KYC-window mining framework will only begin when the KYC solution is generally available to all eligible Pioneers in the future, and will be announced to the community beforehand. The six-month restriction will not be immediately in place yet when we launch the Mainnet.
Because of the importance of true humanness in our social network-based mining, only the Pioneers who pass KYC will be able to transfer their Phone balance to the blockchain. Our objective is to have as many true Pioneers as possible pass KYC. As explained further below, the rolling six-month window serves the following important purposes:
- strike a balance between giving Pioneers adequate time to pass KYC and creating enough urgency to pass KYC,
- prevent unverified Pi beyond the rolling six-month KYC grace period from migrating to the Mainnet, instead freeing it up for mining by other KYC’ed Pioneers within the allocated Pi overall supply limit for Pioneer mining, and
- limit KYC spam and abuse (see 30-day delay in KYCing new members below)
If Pioneers do not pass KYC in time, it delays the Mainnet transfer of their balances and the balances of other Pioneers who have them on their Security Circles and Referral Teams.
Without balances on the Mainnet, Pioneers are not able to use payments in Pi apps, thereby undermining the growth of our utility-based ecosystem.
A six-month window creates a sense of urgency for Pioneers while giving them adequate time to retrieve their mined Pi.
The KYC verification process will generally take into account Pioneers’ likelihood of being real human beings based on Pi’s machine-automated prediction mechanisms run over the last three years.
Newly created accounts will not be able to immediately apply for KYC verification, until after 30 days. This helps the network limit the ability of bots and fake accounts to spam and abuse our KYC process and prioritize KYC validation resources for real human Pioneers.
Finally, the lost Pi of the Pioneers who delay KYC verification beyond six months will not be transferred to the Mainnet and will not be accounted for in the calculation of the systemwide base mining rate (B) beyond the rolling six-month KYC grace period.
