Pi Network Price Drops Below $1 – Can PiDaoSwap Stop the Decline?

Pi Community goes by way of a tough time as its cryptocurrency, Pi, has seen an enormous worth drop. It just lately fell beneath $1, hitting as little as $0.87 earlier than barely bouncing again to $0.9913. Over the previous week, Pi has misplaced about 41% of its worth, making buyers apprehensive that the worth might drop even additional, probably beneath $0.60. This uncertainty has made many locally nervous.

Nevertheless, to combat again towards this downward pattern, Pi Community supporters are engaged on a brand new undertaking referred to as PiDaoSwap. This can be a decentralized change (DEX), which suggests a platform the place folks can commerce Pi with out relying on exterior exchanges that is perhaps manipulating its worth.

PiDaoSwap: A DEX to Counter Value Manipulation

In response to allegations of worth manipulation by exterior exchanges, the Pi Community neighborhood is constructing PiDaoSwap, a decentralized change (DEX) to make sure Pi’s worth displays actual market demand. In keeping with experiences, the platform is in its last phases of growth and awaiting Know Your Enterprise (KYB) approval from the Pi core staff.

Nevertheless, PiDaoSwap has already secured Twitter’s organizational verification, exhibiting its progress. The Pi Community VietNames neighborhood claims the DEX will forestall exterior exchanges from manipulating Pi’s worth. Studies additionally recommend some platforms are utilizing bots to change Pi’s valuation artificially.

In the meantime, Pi supporters are pissed off as Binance nonetheless hasn’t listed the token regardless of rising neighborhood stress.

Pi Community Branding Restrictions Might Affect PiDaoSwap

Whereas PiDaoSwap is gaining traction, considerations have emerged relating to Pi Community’s mental property (IP) insurance policies. The official documentation prohibits the usage of “Pi-related” branding with out approval from the core staff. The PiDaoSwap staff has raised questions on whether or not their undertaking title and area want modifications to adjust to these restrictions earlier than its launch.

Will Pi Community Survive? 

As Pi struggles with declining costs and worth manipulation claims, trade consultants have voiced considerations concerning the undertaking’s sustainability. Justin Bons, the founding father of CyberCapital, criticized Pi’s mining course of and tokenomics, claiming that the undertaking is extremely centralized and its key capabilities stay locked behind KYC verification. He went so far as calling Pi an “funding rip-off.”

• Additionally Learn :
•   Pi Community Information: Why Pi Is Struggling to Get Listed on Main Exchanges
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Nevertheless, not all opinions are adverse. Crypto analyst Dr. Altcoin defended Pi Community, stating that after years of involvement with the undertaking, he has discovered no proof suggesting it’s a rip-off.

With rising scrutiny, worth instability, and regulatory challenges, Pi Community faces a crucial check. Whether or not PiDaoSwap can efficiently counter worth manipulation and restore investor confidence stays to be seen.

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