Disputes Over Code Transparency and Business Model Discourage Listing of Pi Network Token on Major Exchanges

Why the Binance didn’t list the Pi Network

The anticipation of the crypto community has been high regarding the listing of the Pi Network’s token on the Binance platform. However, it seems that this is not going to happen anytime soon as the exchange has decided not to list the token.

According to renowned analyst Kim H. Wong, the first hurdle in the process is the Pi Network’s non-open-source code nature. Wong emphasized that for any project to be considered trustworthy, its code must be open-sourced. This means that the community can review and audit the code to ensure transparency and accountability.

However, the Pi Network’s code remains closed, leaving many investors skeptical about its legitimacy. Furthermore, Bybit’s CEO, Ben Zhou, has publicly stated that the project is a scam, emphasizing that it will not be listed on his platform either.

Another issue lies in the fact that the project’s sole purpose seems to be user manipulation and convincing people to invest in the application, rather than providing any actual value. This is reinforced by Justin Bons, founder of Cyber Capital, who has accused the Pi Network of being an MLM scheme, aiming solely at deceiving users.

Additionally, the token price has been plummeting for months, with a 26.17% drop in just one month and a staggering 76% decline since February. This significant decrease in value raises serious questions about the project’s credibility.

It is essential to take note that the Pi Network’s token is currently trading at 0.445 dollars per unit, which is an astonishing figure considering its previous values.

In conclusion, it seems that there are significant concerns surrounding the legitimacy and trustworthiness of the Pi Network, which has led to Binance’s decision not to list the token.

Source: www.bitcoinbazis.hu