The Pi Network community is creating a decentralized exchange (DEX) called PiDaoSwap. This initiative aims to combat price manipulation by outside exchanges. The goal is to help Pi Coin reflect its true market value, free from the influence of third-party platforms that may distort its price.
PiDaoSwap is nearing completion and will soon launch on the Pi Network mainnet. Community sources, including Pi Network VietNames, state that the DEX will enable trading of the PI token based on real market supply and demand.
This will occur without interference from centralized exchanges. The platform is currently awaiting Know Your Business (KYB) approval from the Pi core team before it can officially launch.
Supporters of Pi Coin believe that some exchanges and price-tracking sites use bots and fake data to manipulate the market perception of Pi. These actions have frustrated the Pi Network community, which feels that such distortions harm the project’s reputation and hinder its adoption. A report from BeInCrypto raised concerns about suspicious bot activity affecting Pi’s value on platforms like CoinMarketCap.
Despite the growing support for Pi Coin, Binance has not yet listed it, which has disappointed the community. However, PiDaoSwap has achieved verification status on Twitter, indicating that the project is gaining traction even before its launch.
The Pi Network team has strict rules regarding branding. Their intellectual property policy limits the use of names and domains that include “Pi” or related terms without permission.
Therefore, the developers of PiDaoSwap may need to change the name or rebrand to comply with these guidelines. They have contacted the Pi core developers for clarification on whether their current name can remain.
The aim of PiDaoSwap is to create a more transparent and community-driven financial system. By eliminating reliance on third-party exchanges, it hopes to provide an accurate pricing system for Pi Coin and restore trust among users. As the launch approaches, the Pi Network community is determined to move forward, despite challenges.