A Pi Network user @icecoinnews has taken to Twitter to voice concerns about the future of Pi Coin IOU. The user alleges that if the CoreTeam of Pi Network continue to delay the launch of the Mainnet, the price of Pi Coin IOU will continue to fall.
The Network, founded in 2019 by three Stanford graduates, aims to create a decentralized and secure blockchain network that can be accessed by anyone with a smartphone. The network has attracted millions of users who are mining Pi Coins by simply downloading the Pi Network app and verifying their identity.
However, the Pi Coins currently being mined are not yet tradable, as the Mainnet launch, which will enable the conversion of Pi Coins into Pi Coin IOU, has not yet occurred. The delay in Mainnet launch has caused concern among some Pi Network users who fear that the value of Pi Coin IOU will continue to decrease without it.
Currently, the Pi IOU price has fallen by 63.54%, trading as low as $21.98 across exchanges. This decline in price is a cause for concern among Pi Network users who are eagerly awaiting the launch of the Mainnet. The delay in Mainnet launch has caused some users to worry that the value of Pi Coin IOU will continue to decrease without it. However, it is important to note that the Pi Coins currently being mined are not yet tradable and that the Pi IOU price is based on speculative trading on exchanges. As such, the Pi IOU price may fluctuate greatly until the launch of the Mainnet, which will allow Pi Coins to be exchanged for Pi Coin IOU and will enable the cryptocurrency to become tradable on exchanges.
— ice Network NEWS (@icecoinnews) May 6, 2023
@icecoinnews’s tweet has gained attention from other Pi Network users, who are also worried about the delay in Mainnet launch. The CoreTeam has not yet responded to these concerns, but they have previously stated that they are working to ensure a smooth and secure launch of the Mainnet.
However, the Testnet of the blockchain network is currently being deployed. Reports suggest that the deployment has been successful so far, which is a promising sign for the upcoming launch of the Mainnet. The Testnet is a crucial step in the development of the Pi Network as it allows the CoreTeam to test and refine the network’s functionality before the launch of the Mainnet. This recent development is a positive sign for Pi Network users who have been eagerly awaiting the launch of the Mainnet, which will enable the conversion of Pi Coins into Pi Coin IOU and will allow the cryptocurrency to become tradable on exchanges. While there is no official announcement on when the Mainnet will be launched, the successful deployment of the Testnet suggests that it could be just around the corner.
Pi Network has been promoting its vision of creating a new cryptocurrency that is accessible to everyone, with no need for expensive mining equipment or technical knowledge. However, the delay in Mainnet launch has led some users to question whether this vision will be realized.
The Network’s whitepaper explains that the Mainnet launch is necessary to create a truly decentralized and secure blockchain network. The launch will allow Pi Coins to be exchanged for Pi Coin IOU, which will then be tradable on cryptocurrency exchanges.
The community is eagerly awaiting the launch of the Mainnet, but the CoreTeam has not yet announced a specific date for its release. In the meantime, some users like @icecoinnews are concerned about the potential consequences of further delays.