alexsando pi network
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Pi :part 1
IS PI NETWORK HEADING TOWARDS A PRICING MECHANISM ON THE BLOCKCHAIN? A shocking news has just emerged in the Pi Network community: a smart contract code, believed to be from Chainlink, has been found referencing Pi Coin and a dynamic pricing mechanism. If confirmed, this would be a major breakthrough, indicating that Pi Network may be aiming to stabilize the value of Pi through an automatic minting and burning mechanism. WHAT IS PEGGING? Pegging is a mechanism in which the value of an asset is tied to a fixed value or another asset (such as USD or gold). This mechanism is commonly seen in stablecoins (e.g., USDT, USDC), helping to maintain price stability and prevent excessive volatility. However, what makes Pi Coin's pricing mechanism unique is the use of dynamic algorithmic pricing, in which the smart contract will automatically:
✅Mint (create) additional Pi Coin when the price drops below the target price.
✅Burn (destroy) Pi Coin when the price exceeds the target price. KEY DETAILS IN THE SMART CONTRACT Below are the important details found in the contract code:
🔸Anchor token: Pi Coin
🔸Target price: 314.159 * 10¹⁸ = 314.159 US dollars (This value is converted to Wei, the smallest unit of Ethereum).#UkraineRussiaCeasefire #pi #cryto
IS PI NETWORK HEADING TOWARDS A PRICING MECHANISM ON THE BLOCKCHAIN? A shocking news has just emerged in the Pi Network community: a smart contract code, believed to be from Chainlink, has been found referencing Pi Coin and a dynamic pricing mechanism. If confirmed, this would be a major breakthrough, indicating that Pi Network may be aiming to stabilize the value of Pi through an automatic minting and burning mechanism. WHAT IS PEGGING? Pegging is a mechanism in which the value of an asset is tied to a fixed value or another asset (such as USD or gold). This mechanism is commonly seen in stablecoins (e.g., USDT, USDC), helping to maintain price stability and prevent excessive volatility. However, what makes Pi Coin's pricing mechanism unique is the use of dynamic algorithmic pricing, in which the smart contract will automatically:
✅Mint (create) additional Pi Coin when the price drops below the target price.
✅Burn (destroy) Pi Coin when the price exceeds the target price. KEY DETAILS IN THE SMART CONTRACT Below are the important details found in the contract code:
🔸Anchor token: Pi Coin
🔸Target price: 314.159 * 10¹⁸ = 314.159 US dollars (This value is converted to Wei, the smallest unit of Ethereum).#UkraineRussiaCeasefire #pi #cryto
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