Pi Network (CoinChapter.com) — PiDaoSwap DEX Promises to Limit Price Manipulation

The Pi Network community is developing PiDaoSwap, a decentralized exchange (DEX) to limit price manipulation from external platforms.

Yerevan (CoinChapter.com) – Members of the Pi Network community are developing PiDaoSwap, a decentralized exchange (DEX) to limit external platforms from influencing PI coin prices.

Reports on social media suggest the new platform is nearing completion. It will operate within the Pi Network ecosystem and focus on showcasing the real value of PI coin.

According to Pi Network VietNames, the new DEX aims to isolate PI coin price from third-party exchanges. The community platform said,

Once completed, the Pi price will be reflected at its true value and will no longer be manipulated by current external exchanges.

The team behind PiDaoSwap DEX claims some centralized exchanges are distorting the coin’s value using bots. These concerns have risen among users, especially after several listings showed inconsistent prices.

PiDaoSwap DEX Awaits Approval From Pi Core Team

Although PiDaoSwap DEX is almost ready, it has yet to launch. The project is waiting for Know Your Business (KYB) clearance from the Pi Core Team. This step is crucial before the DEX becomes active on the Pi Network mainnet.

Meanwhile, the project has passed Twitter’s organizational verification. This move indicates that development is progressing despite the pending official launch. The team has not yet revealed the exact date for the platform’s activation.

The Pi Network community continues to call for greater transparency in PI coin pricing. Users believe that current listings do not accurately reflect market demand and raise concerns about their credibility.

External Exchanges Accused of Distorting PI Coin Price

The price of PI coin has been a major point of contention within the Pi Network community. Several platforms allegedly employ bots to influence pricing, which in turn affects trust in the project.

CoinMarketCap was reportedly engaging in suspicious activity. The platform was accused of displaying prices based on non-organic activity.

The Pi Network VietNames group says these actions have hampered the project’s adoption and growth. The issue has also affected the community’s mood.

At the same time, Binance has not confirmed any plans to list PI coin despite repeated calls from the Pi Network community. The lack of clarity from Binance has led to further frustration among users.

Trademark Policy May Lead to Name Change for PiDaoSwap

The use of “Pi” in PiDaoSwap may lead to legal adjustments. The Pi Core Team enforces a policy that limits the use of “Pi-related” branding unless approved.

PiDaoSwap asked the team,

As a community-driven ecosystem project under PIDao, with DAO as our core focus, would this still be prohibited? Or do we need to modify our project name and domain accordingly?

So far, the Pi Core Team has not issued a public response. Based on the policy, a name change may be necessary before the DEX can launch officially within the Pi Network ecosystem.

PI Coin Price Drops Below $1 After 30% Weekly Fall

The price of PI coin dropped below $1, falling more than 30% in seven days. The coin’s value slid to $0.96 by Thursday morning, continuing a weekly decline from $1.40.

The price dip reflects ongoing concerns about market accuracy and the lack of exchange support for PI coin. Several platforms allegedly used bots to influence the token’s rate, which affected trust in the project.

However, members of the Pi Network community are developing PiDaoSwap, a decentralized exchange (DEX) to limit external platforms from impacting PI coin prices.

The new DEX aims to isolate PI coin price from third-party exchanges. Community platform Pi Network VietNames said,

Once completed, the Pi price will be reflected at its true value and will no longer be manipulated by current external exchanges.

The team developing PiDaoSwap DEX claims some centralized exchanges are distorting the coin’s value using bots. These concerns have risen among users, especially after several listings showed inconsistent prices.

The project is waiting for Know Your Business (KYB) clearance from the Pi Core Team before launching. This step is crucial for the DEX to become active on the Pi Network mainnet.

Meanwhile, the project has passed Twitter’s organizational verification, indicating that development is progressing despite the pending official launch. The team did not yet reveal the exact date for the platform’s activation.