Pi Coin received strong support in a recent Binance Community mood about its potential list, only a few days prior to the Mainstet launch this week.
On February 17, Binance launched a community vote To determine whether the token of Pi Network, Pi Coin, must be stated on its platform.
To participate, users must register with their verified Binance accounts and maintain at least $ 5 in assets during their exchange period during the voice period; Otherwise their voices will not be counted.
From 18 February, 85% of voters supported the PI network on Binance. However, the exchange has clarified that the vote does not guarantee an offer.
Users have UTC on 27 February until 23:59 to cast their vote.
The vision of the PI Network was launched on March 14, 2019 and has always been to create a more accessible cryptocurrency than Bitcoin. The approach enables users to reclaim PI-coins (PI) directly from their smartphones without the need for energy-intensive processes such as traditional cryptocurrencies.
Users earn mining rewards based on when they register – the sooner they participated, the higher their earning percentage. They can increase their rewards by inviting new users or making a security circle.
To take advantage of the hype, Crypto Exchange OKX has already announced support for the PI/USDT trade savings, which will go live on 20 February.
After the launch, however, Pi Coin can be confronted with a considerable sales pressure, because old miners finally get the chance to sell their participations.
The offer will take place on the same day as the long-awaited Mainnet launch of PI. Going live on the minstet means that Pi -Munthouders can finally convert their coins in Fiat -Valuta after years of mining in Fiat -Valutas.
It also opens the Pi-Ecosystem for a wider audience and gives users access to around 80 community-built apps. These include PI’s map, which connects buyers and sellers who accept Pi -Munt, as well as Pi game, care for PI and 1Pi Mall.
Controversy around Pi launch
In the meantime, Pi Network has also had to deal with serious criticism of his long development process and a lack of exchange choices. Some skeptics have compared it to Ponzi schedules, while others accuse the team of postponing the launch to keep users involved.
The project is called a pyramid schedule because of the references-based mine system. In May 2021, it was accused of a data breach that reportedly exposed 17 GB of personal data of 10,000 Vietnamese citizens, although the team denied these claims.
Despite the skepticism, analyst Kim Wong defended the credibility of Pi in a February 16 after On X it mentions the only crypto network that makes ‘immediate cross-border barter and transactions possible’.
Wong noted that PI is distributed over 200+ countries, with more than 100 million registered users, 65 million of whom are active. He also emphasized that 19 million users have completed KYC verification and keep around 10.5 million PI in their wallets.
Beyond his user base, Wong Pi placed as a layer of 1 blockchain that is “decentralized, scalable, fast, safe and web3 ready.” He emphasized his versatility and noted that although it can serve as a commonly used digital currency, the “growing ecosystem also supports all other blockchain functions”.
“If you still don’t know what PI network is, or if you still think it’s scam, you really are lagging behind and you have to catch up!” He concluded.
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