The pi token’s daily trading volume has reached $18.48 million despite the fact that it is currently listed on CEX as IOU is trading at $43.08 which represents a -2.39% decline and it’s being tracked on the Binance price index.
Some people will post scathing comments and temper tantrums about it being listed as an IOU, yet even on CoinMarketCap, there are publications made on the dependability of the pi network. Be aware that some of the prices mentioned below for exchanges represent the value of the iOU rather than the exchange rate because the mainnet has not yet been made available.
Speaking of iou, I’m sure there are some individuals who are unaware of its importance.
IOU tokens are a specific type of digital asset that are only used to represent debts that belong to two parties. A contract known as an IOU acknowledges the payment of a particular amount of debts.
With the iOU token, transactions involving the exchange of money, products, or services between two parties can be sped up.
Pi’s designation as an iou is extremely noteworthy and a sign that the coin is gaining popularity. Pi has not yet been approved for trading on any exchanges, and the pi core team has not accepted any alleged listings.
Just because a network like Huobi listed Pi as an IOU token doesn’t mean it’s a scamming platform. The Pi cryptocurrency is being purchased by investors, which is why daily transaction volume is increasing.
What is Pi Network?
Pi Network is a cryptocurrency project that allows users to perform mining operations through their smartphones. The platform was designed to onboard anyone into the crypto space, regardless of their familiarity with digital assets.
Pi Network is the brainchild of Stanford University graduates – Nicolas Kokkalis, Chengdiao Fan, Aurélien Schiltz, and Vince McPhillips. The team started developing the project in 2018, but they released the whitepaper and launched the application a year later, on March 14, 2019.
Miners on the Pi Network are rewarded with the Pi coin, which the project’s creators claim will gain value once the protocol launches to mainnet.