- Pi Network launched a $ 100 million fund to push the real Pi to push the price.
- Limitations continue to doubt the credibility of the long -term project.
Pi -Network [PI] has launched a $ 100 million durffonds, supported by 10% of his own PI coin supply, in an attempt to shake his reputation as a walled garden.
The fund focuses on AI, fintech and web3 startups – a big step, at least on paper. But within 24 hours Pi Coin tumbled more than 30%, so does the market see the ambition?
Pi -Network: a push of 100 m for use in the real world
After months of limited visibility and slow movement, the PI Foundation has announced Pi Network Ventures, a fund of $ 100 million aimed at stimulating the real acceptance of the PI token.
Supported by 10% of the total PI offer, the fund will focus early on series B startups in sectors such as AI, Fintech, Ecommerce and Consumer apps.
Source: X
It is crucial that most investments will be made in PI instead of Fiat, which demonstrates a dedication to ecosystem growth – but also raise questions about liquidity, risks and / or projects will actually opt for tokens over traditional capital.
Price drops, cools
Despite the announcement of $ 100 million from the PI Foundation on 14 May, the market sentiment changed rapidly. Pi fell more than 30% in the immediate aftermath, from highlights above $ 1 to around $ 0.88.
Source: Coinmarketcap
Open interest in Pi -Futures has fallen in particular last week.
After a peak of approximately $ 11.2 million on 1 March, the open interest steadily fell to around $ 4 million by March 19 – a significant reduction in the trader’s participation.
Source: Coinglass
Although the PI -token price initially floated above $ 2.00 at the beginning of March, it has since fallen below $ 1.40. While token saw a short peak around March 13, both the price and the OI have since fallen in succession.
Perhaps the earlier rally may be more fed by speculation in the short term than on sustainable confidence in the long -term process of the project.
Questions are stuck
Pi Network has built up its huge user base – reportedly more than 50 million – via a mobile mining app that promised future usefulness.
The closed network model of the project has imposed criticism due to the lack of transparency and integration of the practice.
Although the new $ 100 million fund suggests a pivot in the direction of open adoption, skeptics claim that it can be more PR than progress.
Since Pi’s mainnet has just become open, questions about intention and execution will probably continue to exist for a while.
