Pi Network's PiDaoSwap DEX: A Response to Price Manipulation?

The Pi Network community is developing a decentralized exchange (DEX), PiDaoSwap, in an effort to address concerns about price manipulation on external exchanges and foster greater financial independence for its users.

PiDaoSwap's Launch and Goals

PiDaoSwap is reportedly nearing launch on the Pi Network mainnet. This multi-functional DEX aims to provide a more accurate reflection of PI coin's market value, free from the alleged distortions of third-party platforms. According to Pi Network VietNames, a community-driven source, the DEX will help ensure that "Once completed, the Pi price will be reflected at its true value and will no longer be manipulated by current external exchanges."

However, the launch awaits Know Your Business (KYB) approval from the Pi core team. Despite this, PiDaoSwap has already secured Twitter's organizational verification, indicating progress.

Community Concerns and Challenges

This development comes amidst growing frustration within the Pi Network community regarding alleged bot activity and fake price listings on other exchanges. Recent reports highlight concerns about manipulated valuations and the impact on community sentiment and project credibility. The lack of a Binance listing for PI coin further fuels these concerns.

Furthermore, PiDaoSwap faces challenges regarding intellectual property (IP) and trademark policies. The Pi Network’s official documentation prohibits the use of "Pi-related" branding without approval, potentially requiring modifications to the project's name and branding before launch.

The Current Market Situation

PI's price recently fell below $1, experiencing a drop of over 30% in a week. This volatility underscores the need for a more transparent and stable pricing mechanism, which PiDaoSwap aims to provide.

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Disclaimer: This information is for educational purposes only. Readers should conduct their own research and consult with financial professionals before making any investment decisions.

Pi Network's PiDaoSwap DEX: A Response to Price Manipulation?