Currently, the price of the Pi Network cryptocurrency has sharply decreased, falling below 1 dollar, with a recorded low of 0.87 dollars and then slightly recovering to around 0.9913 dollars. Over the past week, the value of Pi has decreased by about 41%, causing many investors to worry that the price could continue to drop, possibly below 0.60 dollars.
To cope with the declining price situation, the Pi Network community is developing a decentralized exchange (DEX) called PiDaoSwap. This platform is designed to allow users to trade Pi coins without being affected by external exchanges that may manipulate the value of Pi. PiDaoSwap is in the final development stage, awaiting Know Your Business (KYB) approval from the core team of Pi.
Although PiDaoSwap may be a solution to offset price manipulation, there are concerns regarding Pi Network's intellectual property policy. Pi's official documents prohibit the use of the brand 'related to Pi' without approval from the core team, which could affect the name and domain of PiDaoSwap before its launch.
Many experts believe that the Pi Network is facing numerous challenges, especially in the context of allegations regarding transparency and mining methods. Although some criticisms label Pi as a 'investment scam,' there are still opinions defending that there is no evidence showing this is a scam project.
In summary, PiDaoSwap has the potential to prevent the decline of Pi's price, but this depends on the project's ability to implement and comply with internal regulations, as well as the ability to restore investor confidence.