Pi Network Completes First Validator Rewards Distribution: What It Means for Pioneers

The Core Team behind Pi Network made a big announcement recently about the state of the reward distribution phase, in which it said over 500 million validations have been successfully completed.

At the same time, the project’s native token continues to struggle, currently fighting for $0.17, while the overall user base keeps complaining about the lack of actual token migrations.

Validator Rewards Completion

The rollouts officially began on Pi Day (March 14), and the first batch of rewards has been successfully delivered directly to eligible validators’ Mainnet wallets, marking a major milestone for the network’s decentralized workforce, reads the statement.

It added that over 526 million validation tasks were completed by more than a million human validators, helping verify the identities of more than 18 million users globally. The process also works with AI-assisted features, which makes the achievement into something even more significant, the team said:

The post also encourages users to become a KYC validator, complete accurate validation work, and join the project’s decentralized workforce to demonstrate the power of distributed human input at a global scale. Moreover, it promised that the team is working to improve the validator performance algorithm for the second distribution round.

Pi Community Unhappy

It seems that whatever the official X team posts in recent weeks, the community continues to lash out at the Core Team. On the one hand, some members are constantly claiming that they have completed the necessary KYC steps but have not received their tokens for months or even years in some cases.

On the other hand, some Pioneers are complaining that the native cryptocurrency has fallen hard since its launch last year, and cannot even be traded on major CEXs, aside from Kraken. PI’s price is down by over 94% since its all-time high of $2.99 in February last year. It currently struggles to remain above $0.17 after the latest rejection at $0.18 earlier this week.

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