Pi Network's Future: Bullish Despite Price Dip

Despite recent criticism and a price drop to $0.58, a Pi Network node runner, John Lang, remains bullish on the project's future. His optimism stems from the PiCoreTeam's (PCT) ongoing development efforts, urging investors to hold their Pi Coins.

Behind-the-Scenes Development at Pi Network

Lang, in a recent X post, argues that the recent price correction is minor compared to the long-term potential of Pi Network. He highlights the PCT's significant behind-the-scenes work.

"Guys, be patient with the PiCoreTeam. They keep working, building meticulously behind the scenes," Lang stated. "Their task is not easy and there are so many things to do."

This positive outlook comes amidst significant criticism regarding delays in KYC approvals for community projects. The launch of PiDaoSwap NFTs on BSC, a workaround for these delays, further fueled the negative sentiment.

Lang advises against selling Pi despite the current bearish market conditions and a 13% price drop. "Just trust the process and whatever the market condition is, never sell your Pi cheap," he emphasized.

PiCoreTeam's Developer Initiatives

The PCT recently released technical conditions for developers building applications on the Pi Network. This initiative focuses on a mobile-first strategy, specifying development languages and frameworks, and providing a software development kit (SDK).

Key requirements include KYC certification for developers and a clear mechanism for value exchange within the app. The PCT suggests applications focusing on virtual goods, decentralized applications (DApps), and mini-game platforms.

Further developments include the Pi domain auction, with bids exceeding 200,000, indicating positive on-chain activity. However, some analysts, like Dr. Altcoin, suggest the PCT should burn billions of Pi from foundation wallets to stabilize the price.

Another proposal, from a pseudonymous individual referencing Satoshi Nakamoto, suggests a community-driven liquidity pool (CDLP) to stabilize Pi's price. This initiative would involve investors committing to monthly Pi purchases.

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