The Pi Network Core Team has issued updated guidelines for users attempting to complete their token migrations to Mainnet, a move aimed at addressing widespread community complaints about delays and technical hurdles. The clarification, shared via the project's official X account, mandates that users, referred to as Pioneers, must set up two-factor authentication (2FA) for their Pi Wallets through Step 3 of the Mainnet checklist before any first or second migration can be processed. The team stated this step is required to "further strengthen the account and wallet security" before the irreversible transfer of real Pi tokens.
This announcement follows the team's Pi Day (March 14) celebration, where the highly anticipated "second migrations" feature was formally introduced. This feature is designed to allow users to migrate their mined tokens from the enclosed network to the Mainnet, a process the community has been requesting for years. While the team reported that over 119,000 users had completed second migrations by the end of March, social media comments reveal significant ongoing frustration. Many users report being stuck for months or even years, particularly within the Know Your Customer (KYC) verification stages, preventing them from accessing their tokens.
Meanwhile, the project's native token, PI, continues to face severe selling pressure. After peaking at roughly $0.30 in mid-March following the announcement of its upcoming listing on the Kraken exchange, the token experienced a classic "sell-the-news" event. Its price plummeted below $0.20 within days and has struggled to recover. Over the past week, PI has fallen by over 8%, with a nearly 4% drop in the last 24 hours alone. At the time of reporting, PI was trading near $0.167, struggling to reclaim the $0.17 level.
Compounding the price pressure is the token's unlock schedule. Data indicates an average of 8 million tokens are set to be released monthly, with several days in the coming weeks scheduled to unlock 18 million or more tokens. This impending increase in circulating supply could intensify selling pressure during an already weak market phase for the asset.
