Pi Network Developer Activity Spikes, But Users Question KYC Delays

Key Takeaways:

• Pi Network extended the deadline for its Ambassador development program.
• The platform claimed increased developer activity on its network.
• PI coin price continued to crab near $34.

NEW DELHI (CoinChapter.com) — Mobile-based crypto mining platform Pi Network claimed that developer activity on its platform has increased due to its ‘Developer Ambassador‘ program.

The platform seeks to expand its ecosystem by inviting developers to build new decentralized apps on the Pi Network blockchain. As such, Pi Network’s Developer Ambassador program incentivizes PI coin users to onboard developers into the ecosystem.

A successful onboarding awards ‘Pioneers‘ with 1,000 PI tokens, which the platform pays out once the developer launches a new dApp on the network.

The platform has announced an extension to the Developer Ambassador program’s last date, which was set to end on Sept. 30. The Pi Network core team extended the program’s deadline to Dec. 30, offering PI coin users more opportunities to earn tokens while helping the ecosystem expand.

PI Users Continue Complaining About Delays

However, PI coin users continue to feel disillusioned with the project, citing delays in the launch of the Pi Network open mainnet. Meanwhile, Pi Network’s marketing team continues shilling the platform and its token.

Several X accounts of Pi coin users continued sharing posts comparing the Pi Network token to established crypto tokens like Bitcoin.

On the other hand, several users continued to reply to PI coin-shilling posts with questions regarding KYC clarity and the launch of the Pi open mainnet.

Several users posted on X (formerly Twitter) regarding their decision to uninstall the Pi Network app. One user called the PI token a “worthless thing” and advised others not to mine it.

Another user stated that the Pi Network left them with “empty hopes.”

The Pi Network team stated that the developers migrated over 2.27 billion PI coins to nearly 3.3 million Pi wallets, with over 1.4 billion tokens locked for the long term.

PI Coin Price Continues Crabbing

The Pi Network token price has shown little volatility since Sept. 21.

PI coin price has been moving laterally between $34 and $35 since Sept. 21, with the Pi Network token dropping nearly 36% from its Sept. 1 high of $54.

The token’s decline likely stems from the Pi Network’s failure to launch the Pi open mainnet. Once the mainnet launches, users can trade the mined PI tokens currently being traded using IOUs.

The IOU system means that participating exchanges would trade future PI coins at the current IOU value. Despite several claims of users accepting PI coins as a currency, real-world usage for the Pi Network token remains limited.