READ THE OPEN CLARIFICATION ABOUT PI NETWORK OPEN MAINNET.

*OPEN MAINNET Complete Analysis* by: 🌍 *@Worldbank* 

Things like this are not supposed to be brought on groups unless the people are just novies about the project of pi.

What do people understand by *open main net?* *Open mainnet* is not the true focus of the project team, that is why they created what they call enclosed mainnet.

*The pi enclosed mainnet* is to enable pioneers to see their pi as real as the already known currencies.

In fact their greatest dream is for people to forget about fiat, but the reason several people are so conscious of the *open mainnet* is so that they can convert pi to cash.

But because the core team wants to erase this mentality from the people they will purposely delay the time of *open mainnet* until people forget about the use of cash and rely fully on pi as the real currency.

If care is not taken *open mainnet* may tarry with the 3 years lockup duration, meaning that it will take 3 years for core team to allow pi to go on *open mainnet* counting from December 28th,2021.

*Open mainnet* will come as soon as everything about pi is fully perfected: and what are those things that is needed to be perfected?

1. KYC. Why KYC? The major aim for KYC is to ensure that the great majority of people who hold pi coin are bonafide owner of the coin, not those who make purchases of few coins to hold that may easily sell off their holdings as a result of trying to make their profit which may equally result in the falling in the value of the said currency.

*By conducting KYC*, it gives the project party an avenue to know the total number of users who have received the free distribution of the currency.

This number will further allow the project party to know the strength of the pi value especially as pi is planned to be a stable coin.

*What has the number to do with the value of a currency like pi?*

One of the major attribute of cryptocurrency is that the more people that hold the currency and also use it on daily basis the stronger and higher the value will become.

This is one of the aspect that we have witnessed about *BITCOIN:* as many people keep receiving bitcoin and were using it on daily basis the value was always rising, but once a good number of it was sold out for fiat we always experience the fall in the value of *BITCOIN.*

This happend because the great majority of the holders of bitcoin are people who bought a fraction to hold, hence, the fear of losing it all when the price is falling causes those who hold very little to sell off theirs to avoid loosing all.

This is the major reason why we experience bitcoin always rising and falling.

This is to say that if most of the people using bitcoin suddenly stop using bitcoin and sell off all their holdings there is a possibility for the price of bitcoin to fall back to zero.

In order for PiCoin to overcome this scenario, Pi has decided not to sell the currency to it users, but rather distribute it for free to all holders: (this free distribution is made possible as a result of the top investors who put down their hard earned monies for the project), then in turn call for all users to prove their identity, that they are truly human not robot.

This process is to ensure that all Pi Coin holders are those who mine pi for free and not those who bought pi with money to avoid the fear of selling out for the fear of loose.

This is to say that no matter the price value of pi, no one will be afraid to sell out as they never bought pi with any form of money.

At the same time the Pi KYC will grant the core team the avenue to see the project size and to also determine how great it value can go.

Now coming back to open mainnet syndrome, if open mainnet is released without allowing the miners or the pioneers to be verified to prove themselves as the true holder of the currency it means that those who will come in to buy pi coin to hold will out number those who have mine the coin for free.

And if those who purchase with their monies outnumber those who mine for free it means the same mistake of *BITCOIN* is repeated again in PiCoin because those who purchase some amount of pi to hold will be waiting for when the price will rise up so that they can sell and make their own profit, and for such reason will prefer to hold and wait for increase instead to use it as money for daily purchases.

And if more people are having this kind of motive  there is a tendency that they will always manipulate the price through their actions in selling off their pi for profit.

This is the reason Pi Core team is considering the KYC as the way forward to ensure that the great majority of pi holders are real pioneers but not investors who come to invest their monies for profit.

This is the Major reason why the pi KYC is becoming the top priority in the core team's agendar at this enclose mainnet, now I @worldbank am putting this straight to all pioneers in the pi community that if the 90% - 100% of the pioneers on pi network is yet to pass their KYC Pi core team will not make any funny mistake to open the *open-mainnet.*

The Pi KYC is the top agendar in the core team's mind. The reason for this is to ensure that the great majority are all free miners, and if 90% of the Pi holders are free miners it means no one will be in haste to sell off all his/her pi for fiat.

Also considering the pi lockup mechanism it will be impossible for any pioneer to sell off all if his/her pi.

It means that no matter who is talking or what he is talking no one will rush to sell of his/her pi which may bring about the rise and fall in the price.

Hence, if the great majority will not be at the point of selling off their pi it means the vision of stability in the value of pi coin will be achieved.

Based on my analysis on the attribute of cryptocurrency, which one of it is *the more people that hold and use the coin the greater and stronger it price value will be.*

This is to say if only 1.5 million users are verified as free miners who hold pi, then at *open mainnet* 5 billion users coming through purchasing the coin from any exchange market to hold, the 5 billion will truly manipulate the pi price and cause it to go through the route of rise and fall which is very common amongst the cryptocurrencies.

Core team has checkmated this by using the FREE YOTI KYC to cage all the top holders of the Pi coin, in order to regulate the price value so they will not mess up the market price simply because they hold huge amount of pi, which result in the current invitation of new miners more than those who have been mining for years and are holding huge amount of pi.

Hence, core team will never make this mistake to allow the great majority to come in to purchase the picoin and hold which they will in turn use that to manipulate the value of the currency.

This is because open mainnet simply gives rooms for outsiders to create pi wallet from any platform and purchase some portion of pi to hold.

Mind you that their aim of buying pi is not for use but for profit making because they have discover the potential and as such they know that definitely sooner or later it price will rise up.

Hence, the best time to invest into pi is now when the open mainnet is not live yet.

*How to invest in PiCoin*

While people are still afraid whether the consensus price will be accepted by core team, *the smarter ones take advantage by using their hard earned fiat currencies to deploy products and declare it for sale with pi*

By using your hard earn fiat currency to deploy products now, that is the hard way of investing to make huge profit, *because the open mainnet is the time when those who invested their fiat currencies into pi will be able to convert it back to fiat if they so wish to do so, meaning that whatever amount they have invested at such time they should expect the profit in millions of dollars* this is because we can not barter at *$314,159* in the *enclosed mainnet* and still continue with the same price at *open mainnet,* *NO!* The open mainnet is going to carry a very huge value far bigger than that which was used at the enclosed mainnet.

Because the open mainnet is the pay back time for all forms of debts that was incured as a result of supporting the ecosystem.

Then the open mainnet will be that phase where anyone will be free to exchange their pi for any currency of their choice.

But the truth of the matter is that at such time pi would have become the most preferable amongst all currencies, hence, people will then not really be willing to use the fiat again as using pi guarantees alot of values.

Such values are not limited to 

*(a) speed of transaction*

*(b) cross-border payment made easy*

*(c) unification of the world financial system*

*(d) easy and faster means of paying for all export and import trade.*

*So many to list but few*

2. Pi D'APPs *(Pi HACKATHON PHASE 2)*

Creating multiple utility platform is another top priority for core team in this enclose mainnet, considering the number 1 top agendar which was Pi KYC, before the 35 million to 50 million pioneers will pass their KYC it is only the future that will tell, this is because we are already in the month of September, 2022 and there is no way core team can use the remaining 3 month to verify the remaining 34-50 million pioneers unless they want the system to hang, hence, the next hackathon is not yet announced, remember that announcement may take some weeks, while submission of projects may take 1 month to 2 months then the time of building the apps may take between 3 months to 6 months and after building then the deployment to the mainnet blockchain.

After all these are fully perfected and the core team discover that the system is becoming very smooth then they will talk about open mainnet, and before that *open mainnet* a 6 months grace will be given for all those who have not done their KYC to do so.

Before the 6 months grace they must have made sure that almost all pioneers have done their KYC, then the announcement for 6 months grace will be made in case there are still some who have not done so.

After the 6 months grace any idle account which is not KYCed will be burnt.

After burning all the idle accounts then the *open mainnet* will be announced giving the pioneers an idea of what they should expect at such time. 

And at such time all pi community exchange platform will be connected to the pi mainnet blockchain and the Pi blockchain will become fully decentralised and any other blockchain can choose to do whatever they like with pi.

This is the total reality about Pi open main net.