Pi Network’s Latest Update Sparks Backlash

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Is the Pi Network Stuck in a Time Warp? Find Out Why Users Are Fuming! 😱

Ah, the Pi Network! A place where dreams of digital currency dance like dapper gents at a soirée, only to be rudely interrupted by the latest update regarding its .pi domain auction. The Pi Core Team, in a fit of enthusiasm, has introduced a new app to manage domain bids, complete with stats tracking and email alerts. However, the community, bless their hearts, seems to think this is about as exciting as watching paint dry, especially with Pi2Day 2025 looming on the horizon like a rather ominous cloud.

No Major Update?

Our dear Pioneers, those stalwart supporters of the Pi Network, had their hopes pinned on announcements that would send the Pi token soaring to the moon. Instead, they find themselves staring at a rather lackluster domain auction update, which has left many feeling as if they’ve been served a plate of cold spaghetti. The crypto community is now casting doubtful glances at Pi’s future, which appears to be as bright as a black cat in a coal cellar. If the updates don’t improve, we might just witness a veritable bloodbath in Pi prices!

If the Pi2Day announcement consists only of Pi domains and there is no further major news on #Pi2Day, a very dark cloud will arise over Pi Network.

Pi domains are not a bad thing, but it would be very bad if it stayed with this outdated announcement.

Just give us the smart…

— Pi Network News Global 𝛑 (@PiNewsGlobal) June 15, 2025

Auction Sees Low Interest Amid Price Crash

Since the auction kicked off three months ago, a mere 3 million PI tokens (worth a paltry $1.8 million) have been spent on domain bids, according to the ever-reliable Piscan. This is but a drop in the ocean compared to Pi’s daily trading volume of over $100 million. The update has done about as much to boost interest as a wet blanket at a bonfire. Currently, Pi is trading at around $0.60, down 35% in the last week and a staggering 60% for the month. Ouch!

Early dreams of businesses clamoring to snatch up branded .pi domains have fizzled out like a soda left open overnight. Even Pi’s founder, Nicolas Kokkalis, once likened them to regular internet domains, but alas, that excitement has not translated into real numbers. It’s a bit like expecting a grand feast and being served a single pea.

Calls for Real Updates Grow Louder

As the dust settles, users are now clamoring for updates that actually mean something. Many are still caught in the KYC (Know Your Customer) process, while only six businesses have managed to complete the KYB (Know Your Business) hurdle. The $100 million Pi Network Ventures fund, launched last month, has yet to announce any startup investments, leaving many scratching their heads in confusion.

One particularly exasperated user took to X, exclaiming, “Great, but when will you fix KYC delays and deliver real tools?”

Great, but when will you fix KYC delays and deliver real tools? Tired of hype with no substance

— MOON CRYPTO SIGNAL PREMIUM (@cryptosignal666) June 15, 2025

More Pressure on the Team Ahead

The pressure is mounting like a soufflé in a hot oven. Over 248 million PI tokens are set to unlock next month, which could lead to a veritable stampede of selling. Without clear steps like exchange listings, ecosystem tools, and a speedier KYC process, the network risks losing the trust of its community faster than a cat can knock over a vase.

For now, the .pi domain update is being viewed as a classic case of too little, too late. One can only hope that the Pi Team pulls a rabbit out of the hat before the audience starts to boo!

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2025-06-16 12:53