The past few weeks have really been tough for the crypto community.

We don’t know if we should breathe a sigh of relief or still be on the edge for more to come.

Starting from the collapse of FTX – the third largest crypto exchange in the world, down to increased scrutiny on the market by regulators.

Well, FTX’s bankruptcy had a ripple effect, not just on the crypto market, but on the world’s economy and several other industries at large.

As it stands, it doesn’t seem we’ll be exiting the bear market anytime soon.

Ideally, we’re supposed to exit the enclosed mainnet, or at least, we should be preparing for mainnet.

But with the recent happenings in the crypto market, this may probably be a farfetched idea.

So when exactly will Pi launch?

According to the Pi Core Team and the mainnet roadmap, the enclosed mainnet should last for a period of 6 months or more before Pi goes mainstream.

But with what we’ve seen with the Pi Core Team, there are times they’ve missed deadlines, but in the end, they always come through.

Before we proceed, let’s take a brief look at the current state of the crypto market and how it affects the Pi network.

Current State of the Crypto Market

Truthfully, things aren’t going to get easier as it seems several crypto projects we thought were solid and had a robust ecosystem were actually a farce.

There’s news that some top exchanges like BlockFi, Genesis, and others may actually go bankrupt.

Worst still, some exchanges are halting withdrawals which spells one thing – all is not well with the crypto industry.

However, with this in mind, you’ll get to appreciate what the Pi Core Team has been doing from the onset.

Bear in mind that it doesn’t cost anything for them to have gone public all this while, especially when the market was extremely bullish, but they didn’t.

Instead, they prioritized building a solid product, a vibrant ecosystem, and utility before considering entering mainnet.

Regardless, Pioneers are still curious and want to know the exact date Pi will launch.

Majority of Pioneers have to KYC

According to several interviews and AMAs by members of the Pi Core Team, they stated that majority of Pioneers should take advantage of the enclosed mainnet to do their KYC.

When this is done, validator rewards will be collated, and Pi tokens earned from members of the same security circle will be awarded to the rightful Pioneers.

However, when 60 to 70 percent of Pioneers have KYC’ed successfully, it means we’re close to exiting the enclosed mainnet.

At the time of writing this article, that’s not the case as only about 10 to 20 percent of Pioneers have passed KYC.

The volatility of the crypto market.

Just as we said earlier, investor confidence in the crypto market is at an all-time low, and the price volatility doesn’t seem to be ending anytime soon.

As any smart business person would know, now is not the right time to launch a novel crypto project.

It would be foolhardy to spend so much effort in building such a great product only for it to fail due to extraneous circumstances you can’t control.

And sincerely, a lot of people have invested too much for the Pi project not to be a success.

However, we’re still very bullish about the project, as it’s better late than never.

Our prediction

As it stands, it doesn’t seem Pi will be launching by December, as stated in the mainnet roadmap.

However, we believe it’s contingent on a lot of Pioneers passing KYC. In addition, the PCT stated they want to increase Pi’s utility by building a robust marketplace which in turn will help create a standard use case and stability.

In that regard, we predict Pi’s launch may be anything between the next 6 – 12 months.

Keep in mind that the PCT often interact with members of the community on a steady basis, and they listen to feedback.

Rest assured that they’re aware of everything the community is saying and they’re taking notes.

With that in mind, it’s never too late to keep mining and help expand Pi’s marketplace by bartering with other Pioneers.

Editors note

We’ve noticed a lot of Pioneers haven’t done their KYC or passed their mainnet checklist, which has been a major impediment from joining the bartering community. If you need help passing KYC, kindly check out this article.