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Pi Network in Crisis? 11 Key Actions That Could Prevent Pi Coin Price Crash
The past year has been challenging for the Pi Network community, with a stagnant token price and no clear mainnet launch date. The constant uncertainty has led to frustration among users, causing concerns about the future of the project.
To revive the situation, here are some crucial steps that the Pi Core Team (PCT) should take to reinvigorate the community and boost trust:
1. **Transparency and Leadership**: The PCT must provide a clear mainnet opening date or enable cross-chain functionality to expand its horizons. Introducing a DAO-style governance system would grant the community real influence, giving users control over their own coins. Additionally, burning or airdropping inactive Pi could alleviate concerns by reducing the supply and boosting morale.
2. **Tech Partnerships**: Collaborating with notable blockchain players like OpenAI, Google Cloud, Binance Cloud, or Chainlink can establish relevance in the eyes of potential partners. Combining Layer 2 scaling solutions, oracles, or decentralized storage providers like Arweave would create tangible value for users and attract them, developers, and investors.
3. **Transparent Tokenomics**: Unveiling a detailed token unlock schedule, revealing team holdings, and implementing a deflationary mechanism similar to Ethereum’s EIP-1559 is essential. This step would instill faith in the long-term viability of the project.
4. **KYC Unlock in Target Regions**: Making KYC verification accessible in key markets such as China, India, and Vietnam can stimulate renewed activity from dormant users who have been waiting patiently for access.
5. **Open Source and DAO Timeline**: Unleashing Pi’s mainnet source code to the public, combined with a voting system that allows users to decide on KYC rules or funding allocations, would shift Pi from being perceived as an isolated project to a truly open public chain.
6. **Node Economy Revival**: Resuming mining rewards based on uptime and performance can strengthen the network and boost the token’s value by reducing supply.
7. **Real DeFi Use Cases**: The inclusion of Pi/USDT trading pairs, lending, borrowing options, and staking pools with actual APY would encourage users to hold onto their Pi instead of selling it off.
8. **Cross-Chain Bridge Deployment**: Building a bridge connecting Pi (for instance, wPi on BSC or Polygon) enables seamless transfers between different blockchains, allowing users to wrap Pi, making it usable in MetaMask, DeFi apps, and global payments. Global markets would unlock the true potential of Pi.
9. **Developer Ecosystem Funding**: Supporting developers through grants, a dApp launchpad, and easy-to-use tools that encourage more applications and user engagement is crucial for growth.
10. **Global PR & Reputation Rebuild**: By engaging with top crypto events, publishing transparent financial reports on its token model, and collaborating with well-known influencers in the space, Pi can restore trust and excitement among community members.
11. **Real Deflation Commitment**: Burning inactive tokens or doing regular buybacks with lockups could help stabilize the coin’s value by reducing supply and boosting morale.
If implemented, these 14 steps could help rebuild trust and revitalize the project, ultimately sparking a long-awaited price rally.
However, it seems that Dr. Altcoin has already predicted this downturn, stating that Pi needs to break above $0.50 for any significant growth; as of now, its trading at $0.45.
Source: coinpedia.org
