Latest Updates on Pi Network (PI) - January 13th
The Pi Network unveils new initiatives, including a mascot naming contest with a significant prize.
The controversial Pi Network continues to make headlines with some intriguing initiatives introduced by its team and the community.
The native token, PI, remains at a low point on a weekly basis; however, there are indicators suggesting a possible short-term recovery.
The Naming Contest
Recently, the well-known account Pi News on X (formerly Twitter) announced a contest to name its new mascot, a yellow cat adorned with the PI symbol on its forehead. To incentivize participation, they are offering a prize pool of 10,000 PI.
“Who can come up with a name that will go down in history? We will exclusively give away $2,000 worth of PI,” they stated.
Various members of the X community have already suggested several names. One standout was “Pika,” proposed by The Times of PiNetwork, combining elements of “PI” and “cat”—the latter meaning “to shine” in Japanese.
“Since PI is a futuristic digital currency, this name perfectly reflects its brilliance and the adorable personality of its mascot,” they added.
Other suggested names include CatPi, Pisipisi, Pinny, and Archie (named after the ancient Greek mathematician Archimedes, who made significant early calculations of Pi).
Other Developments
Moreover, the official Pi Network team has been pretty active. Just a few days back, they released a new developer library that facilitates Pi payments integration into applications in less than ten minutes.
“The library combines the Pi SDK with backend APIs into a single, user-friendly setup, vastly decreasing the time required to incorporate payments into apps,” the announcement detailed.
The aim is to allow developers to allocate more time toward building and enhancing user products, supporting JavaScript or React on the frontend, while the backend accommodates Next.js and Ruby on Rails.
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As of now, PI trades at approximately $0.20, signifying a 2.5% decline for the week and a significant drop of 93% from the all-time high of $3 reached last year.
In recent days, over 1.6 million tokens have transitioned from centralized exchanges to self-custody, hinting at a decrease in selling pressure.
