Pi Network Develops PiDaoSwap DEX to Combat Price Manipulation
The Pi Network community is developing a decentralized exchange (DEX) called PiDaoSwap to combat price manipulation by external exchanges. Key points include:
- PiDaoSwap aims to reflect the true market value of Pi Coin, mitigating distortions from third-party platforms.
- The DEX is in the final stages of development and awaiting Know Your Business (KYB) approval from the Pi core team for launch on the mainnet.
- Concerns have been raised about bots and fake data manipulating Pi’s market perception, affecting its reputation and adoption.
- Despite increased support for Pi Coin, it has not yet been listed on Binance, causing disappointment within the community.
- PiDaoSwap has received verification status on Twitter, indicating growing momentum prior to launch.
- The project faces branding restrictions due to the intellectual property policy of Pi Network, potentially requiring a name change.
- The platform seeks to create a transparent financial system, aiming to provide accurate pricing for Pi Coin and restore user trust.
- The community is focused on progress despite regulatory challenges and branding limitations.