Pi networks are facing community rebound due to record low token prices

The PI network community is becoming increasingly frustrated as tokens are recorded low and users are expressing concern about the direction of the project.

On April 3, Pi Network Turkey, the largest community group supporting the project in the region, issued a statement denounced the sidelined uservoice team.

According to the group, developers have adopted a top-down approach that contradicts the establishment principle of decentralising PI networks.

It stated:

“What we once excited and looked forward to is now simply a disappointment. What is the conscience of simply conscience to consume people's faith and hopes? What is it about ignoring the work, time and dreams of many people?”

Important Issues

In a detailed breakdown, PI Network Turkey outlined several complaints, including indefinite delays in open mainnet launches, limited transparency regarding finances and partnerships, and uncertainty surrounding the network's DAPP ecosystem.

According to the group, it is little clear that the number of decentralized applications is operational or will provide real value.

Other concerns include the lack of meaningful business integration, increased distrust due to repeated delays and unmet promises.

With these in mind, the group revealed plans to launch a “retirement protest,” urging pioneers to lift official PI network channels and express their dissatisfaction on major platforms.

The group also threatened more aggressive behavior when requests were not answered. These include tailored 1-star reviews on the PI Network app and a social media campaign based on the hashtag #PinetWorkProtest.

Pi Arltime Low

The protests will plunge to the lowest level since launch.

Cryptoslate data shows that assets have fallen by about 14% over the last 24 hours. It has been traded nearly $0.50, the lowest level since its debut. The token has lost more than 80% of its value since its peak on February 26th.

Some analysts attribute this to the ongoing unlocking of tokens. This month alone, it is expected that around 120 million pi tokens will enter the circulation, worth an estimated $62 million. The network has released 4.9 billion PIs, with an additional 1.54 billion planned for next year.

Some people in the wider cryptospace also suggest that PI networks are suffering from damaged reputations as skepticism grows about whether the project is leveraging Web3 hype without providing promises.