Big Scandal in Pi Network: Tokens Lock Sets Fire to The Community
While distrust is installed in a crypto ecosystem, the net Pi causes tension to a controversial decision: voluntary locking of tokens against mining bonus, which can rise up to 200 %. In the context of free fall and slow liquidity, the initiative of the indignation of the community already tested by technical delays and the absence of cases of use.
In short
- Pi Network launches a live controversy by launching a voluntary locking program for tokens.
- Users are recommended to block their chips in exchange for mining bonuses up to +200 %.
- Many users condemn inappropriate measures unless there is liquidity or actual usefulness of token.
- The team faces growing anger and the main team is charged with lack of transparency and the absence of a clear plan.
Crypto locking program that falls at the worst moment
While the crypto is still unscrewing, this year on 2 August, the network formalized the network through its blog activation of functionality allowing users to voluntarily lock their tokens in exchange for a mining bonus of up to 200 %.
The measurement applies to two levels: before migration on the mainnet through the main application or after migration via the pi wallet, in which case the bonuses are applied directly to the on-seminars. Once the option is verified, the chips remain blocked after the defined duration and the locking is irreversible.
Here are specific elements of the established device:
- Premigration: affect future sales and projections of rewards;
- After migration: via the pi wallet offers mining bonuses up to +200 %;
- Locking is final throughout the selected period, without the possibility of early withdrawal;
- The aim of the program is to support long -term involvement through the voluntary commitment of users to support the project economy;
- The announcement comes when Token Pi has fallen 90 % since its February summit and just lost 11 % over the weekend and achieved a historical minimum.
This strategic choice, presented as a community leveling tool, has been widely criticized on social networks. Many users consider this to be a poorly calibrated measure, even disconnected from the current reality of the project, in the absence of liquidity, actual evaluation or concrete for token.
A technical delay that undermines the credibility of the ecosystem
In addition to locking itself, this is primarily the structural conditions in which it is inserted, which concentrates the most virulent criticism. Many users condemn the feeling of technical immobility and insufficient transparency by the main team to X (ex-twitter).
For more than a year, community members have verified their KYC for more than a year, but they still cannot migrate tokens due to persistent migration blockages that leave many sales in an unsurpassed state. For the latter, the locking menu is simply unusable, even off -tupic.
Strawberry promises also seriously weigh the perception of the project. Several tools presented in preview, such as Pi Domans or App Studio, are always broken or accessible, supporting the growing climate of frustration.
In parallel, the speed of mining was just reduced to its lowest level ever achieved, in the expected logic of the deflation model designed to reduce the tokenization. And for all this, 160 million chips must be unlocked in August, which risk exerting further pressure on the fragile market.
This series of delay in combination with a clear lack of communication on the plan feeds on the increasingly tangible skepticism of the actual project trajectory and investors’ leakage. The absence of specific perspectives or visible partnerships is strengthened by fear of structural dyspnoea. If the Crypto Pi network really wants to gain confidence in its base, it will have to bring tangible results, but also restore the open dialog with its users.
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A graduate of the Toulouse and the Blockchain Consultant Certification certification certification I have joined Alyrou’s adventure in 2019. I convinced the potential of blockchain to transform many economy sectors, committing to raising awareness and informing the general public about how the ecosysty developed. My goal is to allow everyone to better understand blockchain and take the opportunity they offer. I try to provide an objective analysis of messages every day, decrypt trends on the market, hand over the latest technological innovations and introduce the economic and social issues of this revolution.
Renunciation
The words and opinions expressed in this article are involved only by their author and should not be considered investment counseling. Do your own research before any investment decision.