Pi Network Updates KYC Milestones as PI Holds at $0.17

TLDR

• Pi Network confirmed that over 18.1 million users completed KYC verification and 16.7 million migrated to Mainnet.
• The Core Team reaffirmed its one account per real human policy to protect fair mining rewards and settlements.
• Pi Network rolled out protocol upgrades from version 19.6 to v22 and scheduled v23 next.
• Co-founders Chengdiao Fan and Nicolas Kokkalis spoke at Consensus 2026 about identity systems and AI challenges.
• PI traded near $0.17 on May 14 and recorded a 6% weekly decline.
• Exchange-held PI tokens rose to nearly 540 million, with over half stored on Gate.io.

Pi Network reported new ecosystem milestones while PI price traded near $0.17 on May 14. The Core Team confirmed higher KYC approvals and Mainnet migrations. Meanwhile, exchange balances climbed toward 540 million tokens, and weekly price losses reached 6%.

Pi Network Reports KYC Growth and Protocol Upgrades

Pi Network confirmed that over 18.1 million users completed full KYC verification. The team also said that more than 16.7 million users migrated to Mainnet. These figures reflect ongoing identity checks across the ecosystem.

The Core Team reiterated that one account must represent one real person. It said this rule protects fair mining rewards and secure settlements. However, some users on X reported long waits for verification approval.

The project released protocol version 19.6 in February and later upgraded to v19.9. It then launched v20.2, which introduced the base for smart contract functions. These updates expanded network capabilities and prepared further development steps.

At the start of May, Pi Network moved to protocol v22. The team scheduled protocol v23 as the next upgrade. Community members stated that developers extended the deadline from May 15 to May 19.

Pi Network sponsored the global crypto conference Consensus 2026. Co-founders Chengdiao Fan and Nicolas Kokkalis spoke on the main stage. They addressed identity systems and Artificial Intelligence integration.

Fan said, “Many projects design tokens mainly for hype.” She added that Pi focuses on coins that drive real engagement and long-term value. Kokkalis discussed trust issues as AI generates advanced bots and profiles.

PI Price Holds Near $0.17 as Exchange Supply Rises

PI traded at about $0.17 on May 14. The token recorded a 6% weekly decline. The price remained below the $0.20 level despite ongoing network updates.

Data showed that exchange-held PI tokens approached 540 million coins. Gate.io held more than half of that total. This concentration highlighted growing balances on centralized platforms.

The rising exchange supply indicated increased token transfers from self-custody wallets. Such movements often reflect readiness for trading activity. The figures aligned with the latest weekly price pullback.

Pi Network continued to release updates across verification and protocol layers. The team maintained its one-human-per-account policy. PI remained near $0.17 as exchange balances neared 540 million tokens on May 14.

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