PI网络主网发布引发了有关其估值的广泛讨论

PI Network与Hamster Kombat（HMSTR）等项目具有相似之处。两者都采用自动磨牙模型，吸引了数百万用户

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

PI网络的主网发布：探索潜在的市场价值观点

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.

随着Mainnet在周四发布的PI网络，有关其估值的讨论进行了广泛的讨论。假设范围从保守估计到高度乐观的预测。

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

根据最新的发展和专家意见，以下是关于PI网络潜在市场价值的四个主要观点：

1. Conservative Valuation Based on Comparable Projects

1。基于可比项目的保守估值

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与Hamster Kombat（HMSTR）等项目具有相似之处，该项目还采用了Tap-to-to-to-to-to-to-to-to-to-to-to-to-earn模型。这样的项目吸引了数百万用户，许多用户是加密货币的新用户，并为财务收益带来了巨大的愿望。

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，历史数据表明，这些项目的价格可能会在发布后大幅下降。最近，DEFI分析师加密王（Crypto King）警告说，预期夸张，警告Pi的上市价格不太可能达到30至40美元甚至5美元。确实，正如Beincrypto报道的那样，代币的推出为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.

“我希望看到人们在PI中获胜并改变生活，但是我无法容忍的是假价格。我仍然记得有人借了一笔巨额贷款，购买了一辆汽车，思考他们最终会通过Airdrop收到的HMSTR最终使失望并出售汽车。”分析师写道。

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.

分析师接着说，PI Network的Pi硬币将以1美元的价格短暂交易，然后下降。在撰写本文时，PI在OKX Exchange上的交易价格为0.668美元，比周五会议的开头价格下降了近60％。

2. Valuation Based on Underlying Technology

2。基于基础技术的估值

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的体系结构主要基于恒星区块链，其修改最少。 Stellar的本地令牌XLM的估值（FDV）约为170亿美元。

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为650亿美元，引发了有关其相对于其技术基础的评估问题。

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.

差异表明，PI的价格可能会降低70％，以更与XLM的FDV保持一致，这意味着潜在的市场校正。

3. Inflationary Concerns and Ecosystem Development

3。通货膨胀问题和生态系统发展

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

PI网络白皮书承认在达到1000亿代币的总循环供应后，可能会继续充气。

“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.

该文档中的摘录示为：“对于网络和生态系统的健康，该网络可能会面临诸如完成1000亿PI分配后是否需要任何通货膨胀的问题。”

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，由于效用和需求是加密货币估值的关键驱动因素，因此PI生态系统中缺乏未出色的应用可能会对代币的价值产生不利影响。

4. The Global Consensus Value (GCV) Hypothesis

4。全球共识值（GCV）假设

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网络社区中的一些支持者倡导每个PI代币的全球共识价值（GCV）为314,159美元，从数学常数π（约3.14159）中汲取灵感。同时，其他人则认为，像比特币和以太坊这样的PI应该经历自然的价格发现。

“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是一种愿景，而不是市场价格。 PI可能会从汇率开始，并随着采用而逐渐提高。”一位用户对X进行了评论。

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.

这是因为担心目前的集中交易所（CEX）的PI价格在很大程度上是投机性的，并且可以被操纵。随着分析师预测主网发布后的潜在下降，一些人推测，PI Core团队可能会燃烧以违反网络规则而交易的代币。

“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上的一位用户解释说：“核心团队可能会密切监视和规范投机性市场操作，并可能燃烧（没收）任何以违反其条款交易的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，考虑到PI网络生态系统的新生状态和缺乏实质性的现实世界应用，该假设缺乏经验支持，许多人认为许多人过于雄心勃勃。

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.

尽管如此，这种象征性的估值在社交媒体平台上引起了人们的关注，支持者断言，Pi的稀缺性和经济潜力证明了这一价格的正当。