Pi Network’s Migration 2.0 in 2025 May Release Locked Referral Rewards and KYC Tokens

The Pi Network community is buzzing with speculation about a potential second migration in 2025. A moderator's hint about unlocking referral bonuses and KYC-approved balances has sparked excitement, though market analysts warn of potential token floods impacting price stability.

In Pi's ecosystem, migration refers to transferring testnet balances to the live mainnet. While the first migration proved scalability, many rewards remained locked. The proposed Migration 2.0 aims to address this, potentially boosting active wallets and ecosystem liquidity.

Market concerns focus on price impacts. With Pi currently trading between $0.30-$0.40, a sudden release of locked tokens could create significant selling pressure. The Pi Core Team appears aware of these risks, suggesting a phased implementation approach to maintain market stability.