Pi Network has been operational for nearly seven years, yet persistent skepticism surrounds its authenticity and functionality due to ongoing challenges.

Recently, an X user pointed out critical areas the Pi Network team should concentrate on to strengthen the ecosystem.

Transitioning to a ‘Comprehensive Financial Tool?’

Throughout the last few months, various industry perspectives have emerged regarding the potential for Pi Network and its token. One prominent user, open mainnet, suggested that Nicolas Kokkalis and the team should focus on developing “a robust DeFi ecosystem.” This user advocates for key features such as peer-to-peer lending, staking rewards, and decentralized exchanges, believing these elements will foster real-world adoption.

Furthermore, collaboration with established DeFi platforms like Aave or Uniswap could enable users to earn interest on mined Pi tokens and enhance the trading experience.

The user also emphasized the necessity of upgrading the Stellar-based consensus layout to accommodate smart contracts and the implementation of L2 scaling mechanisms.

“User engagement can be boosted through educational tutorials and incentives, particularly in emerging markets where financial inclusion is crucial. Additionally, audits and KYC procedures should be prioritized to build reliability and ensure compliance.”

All these advancements could potentially reposition Pi Network from merely a mining platform to “a comprehensive financial tool,” making it more appealing to developers.

Additional Insights

• Price Outlook: The native token of Pi Network, which has seen a sharp decline in recent months, has started to rebound, trading at just below $0.19, reflecting a 5% increase today.

Moreover, the latest updates from the Core Team have likely stimulated this rise. The team recently introduced a straightforward Pi payment integration within the Pi App Studio, enabling even non-technical users to engage, as coding skills are not a prerequisite.

For new users and those hesitant to part with their holdings, a new option allows them to deploy app iterations without spending Pi by simply watching ads.

Finally, the Core Team has encouraged all Pioneers to provide feedback and highlight their favorite applications through a brief survey, with rewards for early participants.