My referral info for Pi:
WilDup007
This week, an event a long time in the making finally happened- the main net launch of the Pi network, and the associated pi coin. Pi is a network/coin that was introduced on pi day of 2019. As opposed to previous platforms which required sophisticated hardware and electricity for miners to mine, Pi allowed users to mine using an app on mobile devices without using their own CPUs and power. Pi became quite popular, amassing millions of users. The first thing that stands out is the time between inception and the main net launch. As an early adopter of Pi myself, joining around 2021, by late 2023 I had essentially come to the conclusion that Pi was a pipe dream and would never actually launch. It seems that a substantial amount of early pi adopters felt the same way and probably forgot about their accounts or deleted their apps.
Although more dedicated users and believers are paramount to the success of a network and associated coin, it seems that getting rid of the less faithful and “get rich quick” crowd led to a very successful launch of Pi. If you were around during the NFT craze of 2021/2022, you may remember how NFT launches typically went. Lots of people logged on and tried to buy the NFTs, crashing servers, only to sell them for a meager profit to make a quick buck. As prices began to dip, some scared investors would even undercut the market price to ensure they got their money back. When the majority of the community is only there to make fast money, the network and ecosystem are almost guaranteed to fail.
Back to Pi, the coin actually finally went live on the 20th of February, just a few days ago. It began trading at a surprising 1.90 USD, a substantial price for a coin which was mined for free on mobile devices. The price fell within hours to roughly 0.75 USD, which could have forecast a fast trend towards zero. However, due to efforts by the Pi team, dedicated Pi fans, and good tokenomics, the price hit resistance around 70-80 cents and actually rebounded; it is currently (Feb 23rd, 11 PM Eastern time, Canada/USA) sitting at 1.62 USD/Pi; a very respectable values which is close to the launch price. This is telling of the value of the community and ecosystem of Pi. The successful launch can also be attributed to KYC being required on the app. This got rid of bot accounts and inactive accounts. This meant that a relatively small pool of the millions of cumulative users who registered for Pi at some point actually participated in the launch. However, the trading volume in just the past 24 hours, as provided by crypto.com is around 125 million USD, indicating a large volume of users and transactions. At the end of the day, they had a successful launch, which is more than can be said for a lot of crypto projects.
In terms of current sentiment, the price of the coin is indicative of the health of the ecosystem and community. A visit to the Pi network Reddit page reveals many different thoughts and feelings. Many users are somewhat upset with both themselves and the Pi team due to their locking up their Pi balances to gain a higher earn rate. While earning more is never bad, the lockup period was not short, and for most will end at some time in 2026. With the state of the economy currently, many people could use a boost in assets such as selling off their Pi coin. You may be wondering at this point how much Pi coin people actually have at this point. Over a few years with on and off activity, I was able to amass 2000. Some people with extensive referral networks had upwards of 200 000 pi. Most on the subreddit are bullish in regards to Pi and believe great things are to come for the network.
An unfortunate issue which I also have encountered is a significant portion of earned Pi being “unverified” in some cases as much as 80% of the amassed Pi coin being unverified and possibly subject to deletion. This occurs when a referral who boosted your income did not do KYC or verify their accounts. While this strategy was to disrupt bot earnings and scamming, it had a disastrous impact on some honest Pi users, such as myself. Currently, half of my 2000 coins are unverified, and I am unsure of what will happen to them. However, I am still happy with my 1000 coins, and have great hope for the future of the Pi ecosystem.
Overall, the Pi team have done a great job with the launch, community engagement, and tokenomics. There are some issues, however the community is in a good place and have hope for the Pi network.
