Pi Network Launches New DeFi Features on Testnet Amid Price Drop
The Pi Network has announced new DeFi features on its Testnet, sparking interest within the community. The cryptocurrency is currently trading around $0.26, having experienced a significant drop from its February peak of $2.98.
Recent Developments
- Pi Network's price correction led to an 85% decline from its peak, erasing over $18 billion in value.
- New updates include the launch of Pi DEX, AMM liquidity pools, and token creation tools on the Testnet.
- These tools allow users to swap tokens, provide liquidity, mint test tokens, and explore DeFi mechanics safely.
- The rollout is part of preparing the community for a Mainnet DeFi launch where real PI tokens could be used.
Strategic Shift
- Founder Dr. Chengdiao Fan highlighted this DeFi expansion at the TOKEN2049 conference in Singapore.
- The Pi DEX and AMM pool enable community-driven DEX and AMM interfaces in a secure testing environment.
- Token creation capabilities will allow developers to simulate app-level economies and reward systems.
- On Mainnet, strict guidelines will ensure only utility-driven tokens are approved, reducing speculative risks.
