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Information about Pi Network (PI)
Pi Network is a social cryptocurrency, developer platform, designed to enable anyone to easily participate in the crypto space, regardless of their technical expertise or device. The platform allows users to mine and trade Pi effortlessly through a mobile-friendly interface while also supporting applications built on the Pi blockchain.
Currently, Pi Network has over 60 million active users, with more than 19 million accounts verified through its native KYC system and over 10 million users successfully migrated to the Mainnet.
The Pi Network team has officially announced the launch of the Open Network at 08:00 UTC on February 20, 2025.
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Telegram’s new crypto wallet integration with Pi Network allows access to a potential user base of over 1 billion. However, the network struggles with decreasing demand and a lack of listings on major exchanges, impacting its market credibility.
Despite the integration, Pi Network’s future success depends on transforming Telegram’s vast user base into active investors. Market conditions and dwindling interest remain significant challenges for sustaining its growth.
SuperNodes in the Pi Network are fully managed by the Pi Core Team, which has led to a lack of transparency in their selection process. Community members express frustration over not receiving rewards while running nodes, questioning the fairness of the SuperNode access.
Investment professionals criticize the centralization of Pi Network, labeling it a scam due to technical flaws. SuperNodes are vital for transaction validation, yet their centralized management contradicts the project’s promise of decentralization.
PI trading volume is $61.37m. Market capitalization reaches $6.57b.
The Pi Network community is actively developing PiDaoSwap, a decentralized exchange to combat price manipulation by external exchanges, ensuring that the Pi coin’s value accurately reflects market conditions.
Due to intellectual property policies, PiDaoSwap may need to alter its name prior to launch. The community’s adherence to these guidelines is crucial as they seek to promote the project.
Rising tensions have emerged within the community regarding price manipulation, with claims suggesting bots and incorrect listings have adversely impacted the valuation of Pi coin, increasing demand for an internal exchange.
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