I see a boatload of nonsensical posts on #PiNetwork here on Binance, ranging from "Analyzing whether Pi will hit $314k" to "Pi Network is a gigantic Pyramid scheme fuelled by naive peasants", so I'm going to cover something of far greater significance because #picoin deserves better. The question is:
"What will happen to our unverified balance?"
This explanation will be long, but I'll try to sort everything out. Please read till the end to understand everything.
So currently, there's three elements: "Transferrable Pi", "Unverified Pi", and "Migrated Pi". For my explanation, "Migrated Pi" is not important, so I'll skip it.
"Transferrable Pi" comprises of the Pi that's accumulated through your app's default Mining Rate. The current mining rate on the app is 0.0029 pi/hr, so any given day, your transferrable balance will only increase by 0.0029*24 hrs ~ 0.07 pi/day. You can verify it every day by checking that your transferrable balance will only increase by 0.07 pi/day. I verified this for over three weeks last month when the mining rate was 0.0047 pi/hr. My transferrable balance increased by 0.11 pi (0.0047*24 hrs) every day.
What does this mean?
This means regardless of how many members are available in your security circle (KYC'd or non-KYC'd), referrals (KYC'd or non-KYC'd), and regardless of the utility bonus as well as node bonus you're getting, your transferrable balance is definitely not taking any of these into consideration right now.
This brings me to the next component, which is:
"Unverified Pi": This section consists of all the bonus Pi that you have accrued from your security circle members (both KYC'd and non-KYC'd), referrals (both KYC'd and non-KYC'd), utility bonus, and finally, the node bonus.
Since this section also consists of "bonus Pi" from KYC'd members in your security circle/referrals, this is the reason why there are pioneers who have absolutely zero non-KYC'd members in their security circle/referrals, but they still see unverified balance (ofc there is utility and node bonus as well, but a greater part comes from security circle and referrals) on their dashboard.
Currently, devs have not implemented the mechanism via which the bonus Pi accrued through KYC'd members in your security circle and referrals are immediately transferred to your "transferrable Pi". In fact, they haven't implemented the mechanism to transfer the bonus Pi accrued through "Utility" and "Node" bonus either.
However, they're keeping a track on these bonuses.
So on 14th March, if they don't postpone the Pi KYC deadline any further, all the bonus Pi that you have accumulated through non-KYC'd members in your security circle and referrals shall be transferred back to the mining pool; and all the bonus that you have accumulated through KYC'd members in your security circle and referrals shall be transferred to your "transferrable balance". Furthermore, all the bonus you accrued through utility as well as node shall also be remitted to your "transferrable balance".
That answers the question. Now, you may ask what if some of the members in my circle have pending KYC's.
This question is in the grey-zone. However, if you check the list of non-KYC'd members in your referrals list, you'll see that the members who have at least started their KYC process (First seven steps and KYC status is currently "Review in progress") are not in the list of "non-KYC'd members" anymore.
So there's a good chance that the bonus accrued through members in your security circle/referrals who have applied for KYC but their review is in progress might also be transferred to your "transferrable balance". It's not a guarantee, but there's a good chance. So, please ask your members in the security circle/referrals to at least do their part and finish their initial part of KYC process, so there's some chance the bonus accumulated through them gets credited to your "transferrable balance".