Phase 3 must be where the exchange listing because how is this coin going to be spent on something in exchange if there is nothing we can do with the coin? But why asking for KYC. Is this for extorting the miners?

This PI coin doesn't exist on any market, you can't buy it for BTC nor a product of someone. Those who mine the coins are just mining it for nothing.
Yes Correct! Getting rid of all the BAD actors, something Bitcoin has a BIG issue with (Big Corporation Mining fields)LOL You proved them scam.
Your team should be grateful that someone mines your scam coin. Miners are chained by their necks. If you consider the miners as investors who tirelessly mine your scam coin, allow them to profit because it's called mutual relationship.
I didn't Prove Pi Network is a Scam!
We already know Bitcoin is a scam! People posting on internet of their humongous mining fields in warehouses.I'm proving that it will not be any bad actors in Pi Network (network is against it) !!!!!
Pi is for every one not just a few corporate Mining fields
There may be no bad actors in Pi Network But at least I know there will not be any!! (it is called a check and balance system)
Also we have a security circle! I will not let anyone in it if i know they are bad actors.... My team is separate from my security circle that i trust! Pi network has an algorithm to find bad actors... You can be on my team(anyone)! but I don't have to let you in my security Circle. Circle can be like people you trust like a close friend or a relative someone you know!