While previously Pi Network faced dwindling interest and KYC controversies, its recent domain auction has sparked new optimism.
Pi Network’s Domain Auction Surpasses Expectations
The Pi Core Team (PCT) announced that over 40,000 unique bidders are competing for 95,000 .pi domains in the auction. Nearly 3 million Pi tokens are being bid, with some domains reaching as high as 30,000 Pi. Domains linked to major brands like Amazon and Samsung are particularly sought after. According to PCT, this demand highlights Pi's growing ecosystem as businesses and developers see value in blockchain-powered domain ownership.
PCT’s Policy for Domain Auctions
To guide the process, PCT released a policy document explaining how proceeds will support Pi’s ecosystem. Funds will be reinvested into developer programs and Pi-focused events. Apps within the Pi ecosystem can secure domains without auctions, but .pi domains require renewals and currently function only within the Pi Browser.
Can Pi Coin Rebound to $1?
Meanwhile, Pi Coin’s price has dipped below $1, currently trading at $0.8862 after a 5% drop due to recent token unlocks and selling pressure. Despite this, community sentiment remains strong, with hopes of rebounding to $1. Potential listing on Upbit fuels speculation of a rally, though concerns remain about the lack of transparency from the Pi Core Team.
Though Pi Network faces challenges with listings and regulations, its domain auction success points to potential growth and optimism in the community.
