PI網絡主網發布引發了有關其估值的廣泛討論

PI Network與Hamster Kombat（HMSTR）等項目具有相似之處。兩者都採用自動磨牙模型，吸引了數百萬用戶

Pi Network's Mainnet Launch: Exploring Potential Market Value Perspectives

PI網絡的主網發布：探索潛在的市場價值觀點

With the mainnet launch of Pi Network on Thursday, there has been extensive discussion regarding its valuation. Hypotheses range from conservative estimates to highly optimistic projections.

隨著Mainnet在周四發布的PI網絡，有關其估值的討論進行了廣泛的討論。假設範圍從保守估計到高度樂觀的預測。

Here are four prevailing perspectives on Pi Network's potential market value, based on recent developments and expert opinions:

根據最新的發展和專家意見，以下是關於PI網絡潛在市場價值的四個主要觀點：

1. Conservative Valuation Based on Comparable Projects

1。基於可比項目的保守估值

Pi Network shares similarities with projects like Hamster Kombat (HMSTR), which also employed a tap-to-earn model. Such projects attracted millions of users, many new to cryptocurrency and harboring aspirations for significant financial gains.

Pi Network與Hamster Kombat（HMSTR）等項目具有相似之處，該項目還採用了Tap-to-to-to-to-to-to-to-to-to-to-to-to-earn模型。這樣的項目吸引了數百萬用戶，許多用戶是加密貨幣的新用戶，並為財務收益帶來了巨大的願望。

However, historical data indicates that the prices of these projects can experience substantial declines post-launch. Recently, DeFi analyst Crypto King cautioned against inflated expectations, warning that Pi's listing price is unlikely to reach $30-$40 or even $5. Indeed, as reported by BeInCrypto, the token launched at $2.

但是，歷史數據表明，這些項目的價格可能會在發布後大幅下降。最近，DEFI分析師加密王（Crypto King）警告說，預期誇張，警告Pi的上市價格不太可能達到30至40美元甚至5美元。確實，正如Beincrypto報導的那樣，代幣的推出為2美元。

"I would like to see people winning and getting life changes with Pi, but what I can't tolerate is the fake pricing. I still remember someone took a massive loan to buy a car thinking about the HMSTR that they would receive through airdrop eventually ending up disappointed and selling the car," the analyst wrote.

“我希望看到人們在PI中獲勝並改變生活，但是我無法容忍的是假價格。我仍然記得有人借了一筆巨額貸款，購買了一輛汽車，思考他們最終會通過Airdrop收到的HMSTR最終使失望並出售汽車。”分析師寫道。

The analyst went on to say that Pi Network's PI coin would trade briefly at $1 before declining. At the time of writing, PI was trading at $0.668 on the OKX exchange, down nearly 60% from the opening price of Friday's session.

分析師接著說，PI Network的Pi硬幣將以1美元的價格短暫交易，然後下降。在撰寫本文時，PI在OKX Exchange上的交易價格為0.668美元，比周五會議的開頭價格下降了近60％。

2. Valuation Based on Underlying Technology

2。基於基礎技術的估值

Pi Network's architecture is primarily based on the Stellar blockchain, with minimal modifications. Stellar's native token, XLM, has a fully diluted valuation (FDV) of approximately $17 billion.

PI Network的體系結構主要基於恆星區塊鏈，其修改最少。 Stellar的本地令牌XLM的估值（FDV）約為170億美元。

In contrast, Pi's FDV stands at $65 billion, raising questions about its valuation relative to its technological foundation.

相比之下，PI的FDV為650億美元，引發了有關其相對於其技術基礎的評估問題。

The disparity suggests that Pi's price could decrease by up to 70% to align more closely with XLM's FDV, implying a potential market correction.

差異表明，PI的價格可能會降低70％，以更與XLM的FDV保持一致，這意味著潛在的市場校正。

3. Inflationary Concerns and Ecosystem Development

3。通貨膨脹問題和生態系統發展

The Pi Network whitepaper acknowledges the possibility of continued inflation after the total circulating supply of 100 billion tokens is reached.

PI網絡白皮書承認在達到1000億代幣的總循環供應後，可能會繼續充氣。

“For the health of the network and ecosystem, the network may face questions such as whether there needs to be any inflation after the completion of the distribution of the 100 Billion Pi,” an excerpt in the document reads.

該文檔中的摘錄示為：“對於網絡和生態系統的健康，該網絡可能會面臨諸如完成1000億PI分配後是否需要任何通貨膨脹的問題。”

Additionally, the lack of outstanding applications within the Pi ecosystem could adversely affect the token's value, as utility and demand are critical drivers of cryptocurrency valuation.

此外，由於效用和需求是加密貨幣估值的關鍵驅動因素，因此PI生態系統中缺乏未出色的應用可能會對代幣的價值產生不利影響。

4. The Global Consensus Value (GCV) Hypothesis

4。全球共識值（GCV）假設

Some proponents within the Pi Network community advocate for a Global Consensus Value (GCV) of $314,159 per Pi token, drawing inspiration from the mathematical constant π (approximately 3.14159). Others, meanwhile, maintain that Pi, like Bitcoin and Ethereum, should undergo natural price discovery.

PI網絡社區中的一些支持者倡導每個PI代幣的全球共識價值（GCV）為314,159美元，從數學常數π（約3.14159）中汲取靈感。同時，其他人則認為，像比特幣和以太坊這樣的PI應該經歷自然的價格發現。

“GCV is a vision, not a market price. Pi will likely start at exchange rates & increase gradually with adoption,” one user commented on X.

“ GCV是一種願景，而不是市場價格。 PI可能會從匯率開始，並隨著採用而逐漸提高。”一位用戶對X進行了評論。

This comes amid concerns that the current Pi prices on centralized exchanges (CEXs) are largely speculative and could be manipulated. With analysts predicting potential drops following the mainnet launch, some speculate that the Pi Core team may burn tokens traded in violation of network rules.

這是因為擔心目前的集中交易所（CEX）的PI價格在很大程度上是投機性的，並且可以被操縱。隨著分析師預測主網發布後的潛在下降，一些人推測，PI Core團隊可能會燃燒以違反網絡規則而交易的代幣。

“The Core Team is likely to monitor and regulate speculative market manipulations closely and could burn (confiscate) any Pi traded in violation of its terms,” one user on X explained.

X上的一位用戶解釋說：“核心團隊可能會密切監視和規範投機性市場操作，並可能燃燒（沒收）任何以違反其條款交易的PI。”

However, this hypothesis lacks empirical support and is viewed by many as overly ambitious, given the nascent state of the Pi Network ecosystem and the absence of substantial real-world applications.

但是，考慮到PI網絡生態系統的新生狀態和缺乏實質性的現實世界應用，這一假設缺乏經驗支持，許多人認為許多人過於雄心勃勃。

Nevertheless, this symbolic valuation has gained traction on social media platforms, with supporters asserting that Pi's scarcity and economic potential justify such a price point.

儘管如此，這種象徵性的估值在社交媒體平台上引起了人們的關注，支持者斷言，Pi的稀缺性和經濟潛力證明了這一價格的正當。