Huobi opens Pi (Pi Network) trading contest; says winner takes 50k USDT reward

Huobi Global continues to celebrate the integration of the most popular coin in 2022 despite the controversy surrounding the Pi Network’s native token’s unapproved listing on its platform; the company is unconcerned about the fallout.

In a recent tweet, Huobi revealed that the contest’s lucky winner will receive 50,000 USDT in total and a Porsche 718 in recognition of the Pi Network’s listing on its marketplace.

#Huobi x #PI Trading Contest

Trade $PI to win Porsche 718 & 50,000 USDT

More：https://t.co/1hP5rPPquM pic.twitter.com/iaRLqTncjx

— Huobi (@HuobiGlobal) December 30, 2022

The competition will begin today, December 30, and run until January 6, 2023.

Event rules

• You immediately register for our event by visiting the event website. Participants who do not visit the event page will not be eligible for any prizes.

• Based on their spot trading volumes, participants that trade PI spot trading pairs during the event time are qualified to receive a portion of the 130,000 USDT prize pool.

• The highest volume trader in PI will receive a Porsche 718 valued 80,000 USDT. The winner’s account will be awarded with the prize in the form of USDT.

Is it safe to trade Pi at this moment?

The Pi Network Core Team has vehemently cautioned its community of users not to trust such unapproved listing, which may only lead to asset loss, in addition to disputing the assertions made by XT.COM and Huobi Global regarding the official listing of the PiCoin on their respective trading platforms.

In a blog post, Core Team keeps ringing the alarm bell, cautioning pioneers from trying to trade Pi through external platforms while the enclosed mainnet stage is still in effect. The updated post reads in part:

“Pi Network is aware of reports that several unauthorized third party exchanges, and potential unknown third parties, are seeking to list Pi or tokens purporting to be Pi, or some purported derivative of Pi, without the consent, authority or involvement of Pi Network.”

The Core Team went on to highlight that Pi Network and neither Huobi nor XT.COM have a formal agreement, and as a result, neither of the exchanges has the authority to formally offer Pi for trade on their platforms.