The upcoming .pi domain auction organized by the Pi Network team offers participants a chance to acquire unique .pi domain names, simplifying access to apps. At the same time, the token price continues to decline.
Information About the .pi Auction
The Pi Network team announced the forthcoming .pi domain auction, allowing Pioneers to acquire unique domain names. These domains will replace the lengthy user addresses made up of numerous letters and digits and will be similar to .eth (Ethereum Name Services). "Designed for active use, .pi domains become recognizable access points for apps in the ecosystem," the team stated.
Decline of PI Token Price
Despite the ongoing developments around the project, the price of the native token PI continues to decline. Following the recent cryptocurrency market correction, PI plunged to a new all-time low of around $0.33, representing a 90% decrease from its historical peak of approximately $3 achieved in February. External factors like the upcoming token unlock and increased volume of coins on crypto exchanges are contributing to selling pressure.
Community Opinions on Development
The news regarding the domain auction has elicited mixed reactions from the community. Some believe the project has more significant problems to address than focusing on an auction, while others express hope that the initiative could enhance trust in the project if delivered punctually.
The .pi domain auction could mark a significant milestone for the Pi Network; however, the current issues surrounding the price of the PI token raise concern among Pioneers.