Pi Network's Long-Term Vision:
Nicolas and Chengdiao have dedicated over Six years to developing Pi Open Network, not just for a few exchange listings but to build a robust ecosystem, utility apps, and partnerships. The wait for favorable crypto regulations is part of their larger vision to establish a legal framework for the Open Mainnet.
Market Manipulation by Exchanges:
Exchanges like OKX and Bitget are accused of manipulating Pi prices. Although the official Pi Explorer shows an unlocked circulating supply of 159+ million, the market supply has mysteriously exceeded 256 million. These exchanges and crypto whales are allegedly inflating supply, destabilizing Pi’s price.
Violation of GCV Agreement:
Over 90% of pioneers initially agreed on the Global Consensus Value (GCV) of 1 Pi = $314159. The price manipulation by exchanges has disregarded this consensus, leading to frustration among pioneers who remain committed to upholding the GCV in local markets.
Unfair Exchange Practices:
Many pioneers who deposited their Pi coins on these exchanges found themselves unable to withdraw due to manipulated prices. OKX, in particular, is holding a significant amount of Pi and preventing withdrawals, limiting pioneers’ ability to trade freely.
Exploitation by Whales and Exchanges:
Whales and exchanges are taking advantage of loyal pioneers by manipulating markets and buying from the Pi core team's 20% reserve. This has led to artificial price suppression, benefiting large holders at the expense of everyday pioneers.
Community Boycotts and Local Market Strategies:
Pioneers from China, Indonesia, the Philippines, and other regions have started boycotting these manipulative exchanges. They continue trading at GCV in local markets, where buyers pay more than exchange rates due to withdrawal restrictions.
Token Burn Event Impact:
Reduce Supply: Decrease overall token availability, creating scarcity.
Increase Value: Potentially raise the value of remaining tokens based on demand.
Encourage Holding: Incentivize pioneers to hold onto their tokens in anticipation of future value growth.
On February 29, 2025, Pi Network will burn unclaimed tokens, reducing the circulating supply and potentially increasing the token’s value. This action aims to:
The Path Forward:
As Pi Day approaches, pioneers are encouraged to remain patient and hold their Pi rather than fall into the trap of manipulators. The Pi Network’s potential remains strong, promising a different and visionary path in the crypto landscape.
Conclusion:
Let the impatient sell at lower prices; true believers with long-term vision will witness the real power of Pi Network. Stay vigilant and hold firm to the values and promises of this groundbreaking project.
