What are KYC Slots in the PI Network?

Know Your Customer (KYC) slots play a critical role in the security and integrity of the Pi Network. These slots are designed to verify the identity of users to ensure regulatory compliance and prevent unauthorized activities such as money laundering.

Understanding the Previous KYC Policy

Back in 2021, the Pi Network adopted a unique KYC policy. Approximately 100,000 users were randomly selected to undergo KYC verification. The verification process, which was handled by the UK-based certification body “Yoti,” involved a simple and efficient pop-up message process. Users who were chosen to undergo KYC had 24 hours to complete the process or risk losing their slot.

The Current KYC Policy

Since 2023, the Pi Network has taken significant steps to enhance its KYC policies. The core team has taken charge of the KYC process, adopting a more inclusive and efficient approach. Here’s a detailed overview of the current policy:

New Users and Mining Duration

For new users who start mining on the Pi Network, there is a 14-day grace period during which no KYC verification pop-ups will be shown. This period allows new users to familiarize themselves with the platform and update their profile details in this initial phase.

The KYC Verification Process

Once a user starts a mining session, a pop-up notice will prompt the user to proceed with KYC if they have not already done so. This notice acts as a gentle reminder for users who might have missed the initial pop-ups. The core team has developed a KYC authentication program that collects 0.1 Pi as a verification fee, reflecting their commitment to user-friendly and secure blockchain transactions.

Improving the KYC Process

The current KYC system is still in its developmental stages, and users can expect some challenges. The response for approval or rejection can be slow, with some applications waiting for several months before a decision is reached. This delay arises due to the need for manual verification by four random Pi subscribers if the AI fails to recognize the identity with certainty. Despite these issues, the core team is dedicated to refining the system to better protect the network.

Support for Troubled Users

Users who have not received a KYC notification and believe their account is being flagged as suspicious can seek assistance through the CT chat room within the Pi app. The Pi core team is actively working to identify and mitigate fraudulent accounts, and they continuously update their strategies to enhance the security of the network.

To learn more about the current KYC process, refer to the official resources provided on the Pi Network platform.

""", "footer": "For more information on the latest developments and updates, visit the official Pi Network support page.