Over 89% of Pi tokens remain under the control of the Pi Core Team.
An analyst claims the Pi project lacks audits, transparency, and major exchange listings.
They compare Pi’s risks to Terra Luna’s collapse in 2022.
Pi Network is drawing sharp criticism from crypto analyst Szymanski over what he describes as the project’s alarming level of centralization.
A primary concern, according to Szymanski, is that the Pi Network development team; the Pi Core Team, reportedly maintains control over nearly 89% of the total Pi Coin supply. This situation has prompted fears among some market watchers of a potential, severe collapse.
Analyst Raises Red Flags Over Pi Network’s Token Distribution
In a tweet, analyst Szymanski sounded an alarm about Pi Network, claiming that the Core Team controls the vast majority of Pi’s total token supply. Of the 100 billion Pi tokens that will ever exist, only 11 billion have been released to date. From this, 7.1 billion tokens are in circulation, while 89 billion remain locked under team control.
Related: Pi Network Price Surge: PI Coin Flips HBAR, TON; Top 10 Crypto Next?
Szymanski didn’t mince words, calling this d…
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