From June 28 to July 7, 2023, the online event Pi2Day was organized by the Core Team of Pi Network. The event featured various activities and the launch of two key features.
Pi App Studio and Challenge
More than 2.6 million users, known as Pioneers, participated in the Ecosystem Challenge of Pi2Day. 761,000 completed all steps, earning a limited-edition username badge.
"Participation was strong across regions, showing community engagement and eagerness to explore and test new utilities as soon as they launch," the statement reads.
The new feature introduced was the Pi App Studio, a no-code platform allowing users to create functional applications in a decentralized ecosystem. Almost 35,000 community members have generated over 7,600 chatbots and 14,000 custom applications.
Staking in Pi Ecosystem
The second significant feature is Ecosystem Directory Staking, which allows Pi token holders to stake their tokens to boost app rankings in the ecosystem. In less than a month, nearly 38 million Pi tokens have been staked, with over 25 million tokens actively in use.
"The staking feature introduced a community-driven way to surface apps and services that Pioneers and businesses want to promote and support," the team notes.
Overall Takeaways from Pi2Day
Despite these new feature successes, the price of the Pi token has dropped 10% weekly and almost 19% monthly, currently standing at $0.45. This contrasts with the growth of other cryptocurrencies such as BTC and XRP, which reached new all-time highs.
Pi2Day highlighted strong community engagement and introduced new features, yet the impact of these changes on token price remains uncertain.
