Pi Network Launches Native Token with $195 Billion Fully Diluted Value
Pi Network launched its native PI token on Thursday, experiencing significant price volatility:
- The token debuted at $1.70 and peaked at $2.00 before dropping to $0.97.
- The fully diluted value (FDV) reached $195 billion, nearly double that of Solana's SOL.
- Current market cap is approximately $6.1 billion with a circulating supply of 6.3 billion tokens.
Mining requires an invitation from existing users, creating a referral system similar to multilevel marketing. The mainnet launch allows accrued tokens to be traded, but liquidity issues persist:
- OKX, the most liquid exchange, shows only 2% market depth between $33,000 and $60,000.
- A $100,000 order could significantly affect the token's price.
To address liquidity concerns, Pi Network offers a "lock-up" period for holders, lasting up to three years, which increases mining rewards. This strategy parallels Richard Heart's HEX token, which saw a significant decline in value post-launch.