The PI Network community is taking an important step towards economic independence, developing a decentralized exchange (DEX), Pidaoswap.
Social media reports say the initiative is intended to curb suspicions of price manipulation through external exchanges.
Pidaoswap is being released on the PI Network Ecosystem
Pidaoswap is reportedly in the final stages of launching multifunctional DEX on the PI network mainnet. This platform ensures that the price of Picoin is not distorted by third-party platforms, but rather reflects the actual market value of the token.
The announcement cited price manipulation by external entities, which is a fraud that hinders the growth and development of PI networks.
“Once completed, the PI price will be reflected in true value and will no longer be manipulated by current external exchanges,” claimed PI Network Vietnames.
PI Network Vietnames is a community-driven profile that shares updates, opinions and news about PI networks.
In the final stages of development, Pidaoswap specified that it was waiting for business (KYB) approval from the PI core team prior to launch.
For now, the future platform has secured Twitter organizational verification and demonstrated development progress.
Meanwhile, the imminent launch of Pidaoswap by PI Network is amid growing frustration within the PI community. Certain platforms reportedly use bots to artificially change PI ratings, affecting community sentiment.
Similarly, there are allegations of fake price listings due to external exchanges.
The recent Beincrypto report reflects this sentiment in allegations of bot activity at CoinMarketCap. This has encouraged skepticism about centralized pricing tracking mechanisms on the platform.
According to PI Network Vietnamese, these operations have had a serious impact on project reliability and adoption.
On the other hand, listing PI coins makes the binance evasive. Despite community support, Pi Coin’s Binance list decision remains unresolved, bringing frustration among fans.
PI weekly price chart. Source: Beincrypto
Limitations on the use of PI-related branding
Meanwhile, other concerns have emerged regarding restrictions on the use of “PI-related” branding. These relate to intellectual property (IP) and trademark policies outlined by the PI Network.
“As a community-driven ecosystem project under Pidao, DAO is this still prohibited as our core focus? Or we need to change the project name and domain accordingly.”
Official PI Network documentation is prohibited using the “PI-related” brand without approval. Therefore, this suggests that changes may be necessary before Pidaoswap is crowded.
Meanwhile, the Pi fell below $1 on Saturday, falling more than 30% last week.
