Pi Network has set a new precedent in the cryptocurrency industry, surpassing Uniswap’s historic airdrop valuation. According to a report from Bitget exchange, Pi Network’s total airdrop value has reached $12.6 billion, doubling Uniswap’s previous record of $6.43 billion set in 2020.
Pi Network’s Historic Airdrop
With a circulating supply of 6.3 billion PI tokens and an initial launch price of $2, Pi Network’s mainnet debut has ignited widespread interest. The network officially confirmed the pricing milestone via its X (formerly Twitter) account, posting, “1 PI = 2$.”
Unlike conventional airdrops that mainly target early investors and developers, Pi Network has taken a unique approach by focusing on mass participation. Since 2019, millions of users have mined PI tokens via mobile devices, contributing to an expansive and engaged community. This large-scale participation has been a key factor in the project’s historic airdrop valuation.
Industry Enthusiasm and Exchange Listings
Prior to Pi Network’s open mainnet launch, several cryptocurrency exchanges, including Bitget and BitMart, facilitated PI token airdrops and USDT giveaways. These pre-launch activities underscored the industry’s confidence in Pi Network’s potential as a mainstream digital currency.
Mainnet Launch and Future Prospects
With the activation of its Open Network phase, Pi Network is now fully integrated into the broader blockchain ecosystem. This transition allows seamless interoperability with other financial systems and decentralized applications.
“The Open Network unlocks Pi’s thriving ecosystem, innovative applications, and extensive peer-to-peer network for integration with the broader blockchain world,” the Pi Network team announced.
Despite its monumental airdrop, Pi Network faces regulatory scrutiny and concerns about its mining model. Critics argue that its user acquisition strategy resembles a pyramid structure, raising sustainability and compliance issues. Additionally, market volatility remains a significant challenge, with PI’s price dropping 37% from its launch value to $1.1984.
Also Read: Ether’s Bearish Sentiment at Tipping Point, Could Surge to $4,000 Soon: Tyr Capital Co-Founder
Nevertheless, Pi Network’s leadership remains committed to building a decentralized, scalable, and widely adopted digital economy. As the project moves forward, its ability to sustain momentum and deliver on its ambitious vision will be crucial in determining its long-term success.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of CoinBrief.io. Before making any investment decisions, you should always conduct your own research. Coin Brief is not responsible for any financial losses.
