Pi Network, which plans to launch smartphone-based mining of Pi coins, has clarified that it has no association with any crypto exchange as of now. Pi tokens listed on any trading platform are fake, it said in a statement.
“Pi’s enclosed mainnet design means that $PI listing on any exchange is impossible. The listing violates the network’s policies and is a false native Pi token, representing some form of IOU or other derivatives,” the network added.
Pi Network is a cryptocurrency and developer platform that promises to offer the mining of pi coins through mobile phones without draining the battery. Besides blockchain-based transactions, the Pi network aims to let developers build decentralized applications (dApps).
“Pi Network, one of the world’s largest blockchain-based communities with 35M+ engaged members, disapproves of unauthorized decisions made by certain exchanges to list tokens purporting to be Pi or some purported derivative of Pi,” the California-based crypto startup said.
The tokens being traded on these platforms are not the real Pi tokens, it added.
Meanwhile, the PiBridge staking feature became live on Friday. It rewards users with Wrapped Pi (WPI) for staking in PIB. Currently, PiBridge allows users to stake PIB or BUSD-PIB Liquidity Pool and earn WPI. According to the announcement, both farms will continue for three months since January 6.
