What Is The Next Step After Creating A Wallet? Lockup Configuration

After creating a wallet, you have to complete the following steps

1. Confirm your Pi wallet
2. Commit to lockup configuration ( If you don't do this, the algorithm of Pi Network automatically lockup your Pi coins for 3 years ). The higher the lockup gives you more power in mining the Pi coins.

1. Confirm Your Pi Wallet

Open Pi Network Mining APP, 

Tap on the 3 lines menu 

Tap on Mainnet

Tap on Checklist

Tap on No.3, Confirm your Pi Wallet

Insert the Wallet when you create your Pi Wallet with Pi Browser. The Wallet is created with a Passphrase.

Watch the video again - https://www.youtube.com/watch?v=jQH4NRiyxxY&feature=emb_rel_end

2. Commit To Lockup Configuration

Open the Pi Network Mining APP, 

Tap on the 3 lines menu 

Tap on Mainnet

Tap on Checklist

Tap on No.4, Commit to the lockup configuration

Insert the Wallet when you create your Pi Wallet with Pi Browser. The Wallet is created with a Passphrase.

Question: My lockup settings lock 100% and 3 years please help me admin how to decrease.

Since you locked 100% for 3yrs, you can have access to it after the 3 years are completed, and if you have successfully passed KYC and get migrated by now, then you should be able to do another lockup or unlock so the new transferable can be transferred to your available balance. 

Question: After KYC I will get a chance to do the decrease please tell me, sir.

You can't decrease what was locked up earlier, but if you pass your KYC and your pi gets migrated you can only create a new lockup for the next transferable.

My Suggestion:

1) If less than 21 years old,

Lockup Percentage - 90%

Lockup Duration - 3 Years

So, the available Pi transferred to be used is 10% of your total Pi mined.

E.g Total mined by you is 1,500 Pi, and available to use is 150

2) If less than 40 years old,

Lockup Percentage - 50%

Lockup Duration - 3 Years

So, the available Pi transferred to be used is 50% of your total Pi mined.

3) If your age is 40 years and less than 60 Years old,

Lockup Percentage - 25%

Lockup Duration - 3 Years

So, the available Pi transferred to be used is 75% of your total Pi mined.

4) If your age is 40 years and less than 60 Years old,

Lockup Percentage - 25%

Lockup Duration - 3 Years

So, the available Pi transferred to be used is 75% of your total Pi mined.

Second Migration Lockup ( Not sure about this, it depends on you)

Lockup Percentage - 25%

Lockup Duration - 1 Year

Just my 2-cent opinion

To switch and change between the lockup percentage & lockup duration, tap on it and drag it from left to right and right to left to a point you want to select.

5. Submit your KYC Application
6. Wait for KYC Results
7. Migrate to Mainnet
8. Invite your teams to complete KYC to transfer more Pi

NEXT => KYC Preparation(How To KYC)

https://1pinetwork.blogspot.com/2022/08/kyc-preparation.html