#Gate.io 12th Anniversary# Here’s a clear update from Dr. Nicolas Kokkalis and the Pi Network Core Team:

Pi Network Migration Update – Key Points from the Latest Announcement:

1. First Migration Phase (Ongoing):

This phase focuses on transferring mined Pi tokens based solely on individual mining contributions, lockup duration, and security circle performance.

So far, around 15 million users have completed KYC and had their Pi tokens migrated.

Many users who have not yet completed KYC are still pending and may risk losing their mined Pi if they remain inactive.

2. Second Migration Phase (Coming Soon):

Will include referral bonuses earned through successfully KYC-verified downlines.

These bonuses were excluded from the first migration.

It will only begin once the first migration is fully completed.

3. Third Migration Phase (Future and Recurring):

Expected to occur on a monthly, quarterly, or yearly basis depending on the Core Team’s decision.

It will cover:

Pi accumulated post-first migration and any updated lockups.

Migration for newly KYC-verified users.

Rewards for Validators who assisted with KYC verifications globally.

4. Important Warning for Inactive Pioneers:

Those who started mining from 2019 to 2024 but fail to complete KYC could permanently lose their Pi tokens, especially as future migration phases are more selective.

Actionable Advice:

If you haven’t done your KYC, prioritize it immediately.

Encourage your downlines to complete their KYC to secure your referral bonus in the second migration