- Rumors around the Pi network launching a DEX gained popularity over the last few days.
- The number of KYC verified users on the network surged.
As a long-term crypto investor with a healthy dose of skepticism, I’ve seen my fair share of rumors and speculation in the world of cryptocurrencies. So when I heard about the potential launch of a Decentralized Exchange (DEX) on Pi Network before their mainnet goes live, I raised an eyebrow.
As a crypto investor excited about Pi Network, I’ve been eagerly anticipating their mainnet launch. However, recently, whispers have started circulating that there might be a delay in the launch.
It has been proposed that the development team could focus on releasing a Decentralized Exchange (DEX) ahead of activating the mainnet.
Rumors and speculation
Despite the announcement, there was widespread doubt among people. At present, Pi tokens carry no worth, and there’s been scant detail provided about the release date for the mainnet.
It’s unlikely that you could introduce a decentralized exchange (DEX) featuring intricate financial instruments prior to having a fully operational mainnet in place.
As a crypto investor, I can tell you that when I first heard about the Pi DEX rumor, the source of the information was unclear to me. However, there were whispers in the community suggesting that certain groups might be behind the spread of this rumor.
As an analyst, I’ve come to observe that the Pi Network team is renowned for their consistent efforts in disseminating daily news intended to garner widespread attention.
The team’s plan is to generate continuous interest in their project through public visibility and engaging Pi Coin owners. However, without a definitive plan and setbacks in key features, it remains debatable how successful this tactic will be.
Not their first rodeo
Pi Network’s shilling team has a history of generating buzz, sometimes through questionable means.
Beforehand, people caused quite a stir by circulating a gossip that Elon Musk, the wealthy businessman, was linked to the initiative in some way and was open to receiving Pi Coins on his social media platform according to their statements.
The Pi community was greatly excited by the news, but once neither Raspberry Pi nor Elon Musk confirmed the reports, it became evident that there was no collaboration between the two.
The questioning of the shilling team’s methods and the ensuing concerns about the project’s clarity were brought forth by this occurrence.
Some signs of progress
As a researcher investigating the Pi Network, I’ve noticed some questionable marketing strategies employed by its team. However, it’s important to look beyond the hype and examine the potential progress the project may be making.
As a researcher, I can confirm that based on the most current information available, the project is making undeniable progress towards launching a functional Open Network Mainnet.
Realistic or not, here’s PI’s market cap in BTC’s terms
As a crypto investor, I’ve noticed an increasing trend mentioned in a recent tweet. More and more KYC-verified users are joining the platform nowadays. This verification process is essential for building a robust and authentic network that instills confidence and security among its members.
By the month of June in the year 2024, more than 12 million individuals have undergone Know Your Customer (KYC) verification processes, indicating a substantial and engaged user community.
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2024-07-01 16:39