PiBridge, a project believed to be an ecosystem utility application of the Pi Network is already live on exchanges but whatever the value is, can be the equivalent value of Pi (Pi Network).
The Bridge’s official Telegram account has posted an update announcing it’s wrapped Pi total reserve quantity to be 80,756.91Pi. Further stating that the reserve quantity on BNB Smart Chain is 50,000Pi while only 10,000Pi is reserved on the OnusChain. The post reads:
“To help investors easily trade Pi on exchanges, PiBridge issues the Wrapped Pi token, which is a 1:1 mapping solution with PI natives.
Wrapped Pi is built on Binance Smart Chain and ONUSChain, with a total current supply of 63,300 WPI.”
Simplifying the total reserved wrapped Pi, the team continue to say:
“There are 80,756.91 Pi locked in our reserve wallet (which is greater than the amount of WPI that PiBridge issues).
This is the PI reserve wallet image. Due to special reasons, we are not able to publicize the address of the reserve wallet.”
“Based on the actual demand from the community, we may release more WPI, but each new WPI born will have 1 original Pi locked in the reserve wallet and we will have an announcement to the community.”
Wrapped Pi continues to be a substitute token for the native Pi Network coin, said project officials. The PiBridge team stated:
“Wrapped Pi (WPi) is a token generated by the PiBridge project as an alternative for the native Pi coin (originating from Pi Network) that allows communication between Binance Smart Chain and Pi Network.”
“WPi abides by the token BEP-20 standard, which grants it access to decentralized finance features on the Binance Smart Chain, such as exchange, lending, borrowing, predicting, and so on.”
What is PiBridge?
PiBridge is a hybrid gateway that dissolves the barrier separating the Pi network from other blockchains, making Pi approachable and available to the general public and providing the Pi community with a new flexible and transparent financial tool. In order to allow data to flow and Pi holders to freely move between the networks, the PiBridge team seeks to create the gateway connecting Pi and other blockchains. To enable interaction between Pi holders and other digital assets on BSC, PiBridge will issue Wrapped Pi (WPI) on Binance Smart Chain (BSC). The bridge will be expanded to connect to further expansive networks, such as Polygon and Cosmos.
