The developers behind Pi Network have announced the completion of the first distribution of KYC validator rewards. Over 526 million validation tasks were completed by a global workforce, aiding the identity verification of more than 18 million users. Concurrently, the project’s community expresses ongoing dissatisfaction, citing delayed token migrations and a significant price decline for the native PI token, which currently trades near $0.17.
The core team behind Pi Network announced the completion of its first validator reward distribution phase. The team stated that over 526 million validation tasks were completed by more than one million validators, assisting in verifying 18 million users globally.
The rollout officially began on Pi Day last month, with the first batch of rewards delivered to eligible validators’ Mainnet wallets. The completed work demonstrates “the capability, consistency, and scale of Pi’s global, distributed human workforce in driving meaningful real-world outcomes,” according to the team’s statement.
Despite this milestone, the broader Pi community continues to express strong dissatisfaction. On one hand, some Pioneers claim they have completed KYC but have not received their tokens for extended periods, as mentioned in community complaints.
On the other hand, the project’s native token continues to struggle in the market. PI is currently fighting to remain above $0.17 after a recent rejection at $0.18. The token’s price has fallen over 94% since its all-time high of $2.99 in February last year.
The token also faces limited accessibility on major cryptocurrency exchanges, being listed only on Kraken among prominent platforms. This lack of broad market access compounds the community’s frustrations regarding the project’s progress and token utility.
