- Pi Network Team releases .pi domain auction update as standalone app with limited community impact
- Only 3 million PI tokens bid in domain auction versus $100 million daily trading volume
- Community expresses frustration over lack of substantive updates amid 60% monthly price decline
The Pi Network Team has announced an update to the .pi domain name auction, transforming it into a standalone application separate from the Pi Wallet with enhanced features including statistics pages and email notifications.
However, the Pi Network community has responded with disappointment, expressing frustration over the lack of more impactful developments as the PI token price has dropped 60% over the past month to approximately $0.60.
Pioneers, the dedicated long-term supporters of Pi Network, had anticipated more substantial announcements that could provide foundation for price recovery. The .pi domain update, while technically progressive, fails to address core community concerns about ecosystem development and token utility.
Many community members worry that focusing on domain auctions diverts attention from more pressing issues affecting the network’s growth and adoption.
Limited Auction Participation Highlights Modest Impact
Piscan data shows that the.pi domain auction has seen just limited participation since its inception more than three months ago. Over 3 million PI tokens have been pledged to domain bids, totaling nearly $1.8 million in value.
However, this figure pales compared to Pi’s daily trading volume exceeding $100 million, suggesting the auction has minimal impact on token price dynamics or overall market activity.
The limited auction engagement contrasts sharply with initial expectations when Pi founder Nicolas Kokkalis compared .pi domains to traditional internet domain systems. Many investors had hoped companies would purchase branded domains to establish presence within the Pi Network ecosystem, but current participation levels indicate limited corporate interest in this infrastructure.
Pi Network News Global expressed concern about the timing and focus of recent announcements, particularly ahead of Pi2Day celebrations. “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,” the outlet commented, reflecting broader community sentiment about prioritization of development efforts.
The ecosystem faces several fundamental challenges that community members believe require immediate attention. Only six businesses have completed Know Your Business (KYB) verification processes, while the network has failed to secure listings on additional cryptocurrency exchanges.
The $100 million Pi Network Ventures fund launched last month has yet to announce any startup investments, raising questions about deployment strategy.
