By Key Points
- Pi Networkโs .pi domain update disappoints many in the community
- Price of PI token drops 60% in a month amid weak interest
- Auction sees $1.8M in bids but fails to spark wider adoption
- Users demand real progress like KYC fixes and exchange listings
The Pi Network community expected a breakthrough announcementโsomething bold, something that could shift momentum. Instead, what arrived was a domain auction.
On June 16, the Pi Core Team (PCT) introduced a standalone Pi app for auctioning .pi domains. The new app features tools like domain stats and email notifications. Though technically useful, the update didnโt live up to the communityโs hopes.
The .pi Domains Auction continues to see strong engagement across the Pi ecosystem. Recent updates include a new statistics page showing domains with the most bids, highest price, and recent trending bids. https://t.co/yD13KYexu7
The Auction is also now a Pi app instead of beingโฆ
โ Pi Network (@PiCoreTeam) June 15, 2025
This lukewarm reception comes at a tough time. The PI tokenโs price has plummeted by 60% over the past month, falling to around $0.60. The drop reflects declining confidence and rising frustration among Pioneers.
โIf the Pi2Day announcement consists only of Pi domains and there is no further major news, a very dark cloud will arise,โ said Pi Network News Global.
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.
Pi domains are not a bad thing, but it would be very bad if it stayed with this outdated announcement.
Just give us the smartโฆ
โ Pi Network News Global ๐ (@PiNewsGlobal) June 15, 2025
Despite over 3 million PI tokens (worth $1.8 million) being spent on domains, the traction appears limited. Given Pi Network’s $100M+ daily trading volume, the auction is a small blip. Itโs clear that while the .pi domain idea has niche interest, it isnโt moving the needle for most users or investors.
Many had hoped companies would rush to claim branded .pi domainsโsimilar to how early adopters secured .com names during the internet boom. That hasnโt happened. Instead, the reaction highlights a growing divide between PCTโs vision and the user base’s expectations.
Meanwhile, as Bitcoin dominance jumps 1.4% amid a shrinking market cap, altcoins like PI are struggling to hold investor interest.
.Pi Domain Auction Statistics. Source: Piscan – Techtoken
Real Problems Like KYC and Listings Still Unsolved
While PCT is focused on domain names, bigger issues remain unresolvedโissues that directly impact the platformโs usability and long-term value.
The biggest problem? KYC delays.
Thousands of users still havenโt been verified, keeping them from accessing their full PI balances or using key features. Many have waited for months. The issue continues to dominate community discussions, and frustration is growing.
โGreat, but when will you fix KYC delays and deliver real tools?โ asked one crypto trader on X.
Great, but when will you fix KYC delays and deliver real tools? Tired of hype with no substance
โ MOON CRYPTO SIGNAL PREMIUM (@cryptosignal666) June 15, 2025
In parallel, Pi Network hasnโt added any new businesses through its KYB processโonly six have been verified so far. Without more merchant integration, the PI token remains mostly theoretical in terms of real-world utility.
Even worse, there have been no new exchange listings. Without listings on major platforms, PI remains difficult to trade, limiting user adoption and reducing liquidity. This also discourages new investors who might otherwise explore the project.
Adding to concerns is the silence surrounding the $100 million Pi Network Ventures fund. Announced last month, it promised to fuel a wave of Web3 innovation on the Pi platform. Yet, there have been zero funded projects or announcements to date.
Meanwhile, a massive token unlock looms. In July, over 248 million PI tokens will be releasedโmaking it the largest monthly unlock until October 2027. Unless the ecosystem matures quickly, this could lead to heavy sell pressure and even lower prices.
Pi Network (PI) Price Performance. Source: Techtoken
In contrast, other parts of the crypto world are facing security challengesโlike the LastPass crypto hack fallout that caused another $200K in losses. These highlight how broader trust and transparency are crucial for any project’s survival.
Community Urges a Shift to Real-World Utility
The backlash isn’t just about one underwhelming updateโitโs about a pattern. Many long-time supporters feel Pi Network is losing its way, focusing on surface-level updates while ignoring essential infrastructure.
To rebuild trust, the Core Team will need to prioritize real-world utility. That starts with solving KYC issues and onboarding new businesses that actually use PI for transactions.
Additionally, exchange listings must become a priority. Listing on even a mid-tier centralized exchange could significantly boost user confidence, accessibility, and liquidity. It would also attract fresh capitalโsomething Pi desperately needs to counter the negative price action.
Another demand from the community is the rollout of smart contracts and developer tools. These features could open the door for Pi-native dApps, creating more reasons to hold and use PI beyond speculation.
Community-driven innovation can only thrive when the ecosystem infrastructure is in place. At the moment, Pi Network lacks the tools and developer incentives needed to make that happen.
โWeโre ready to build, but we need more than domains,โ posted one Pi developer on Reddit.
For a project that once promised to โbuild the worldโs most inclusive peer-to-peer ecosystem,โ the current trajectory feels off-track to many.
If the Core Team canโt realign its efforts soon, they risk losing more than just token valueโthey could lose the very community that built Pi from the ground up.
Even regulators are beginning to pull back, as seen with the SECโs reversal on crypto rules, which could further loosen the space for innovative projects. But without product-market fit, favorable regulation means little.
And while projects like Tornado Cash face ongoing blockades, Pi Networkโs biggest enemy may be internal stagnationโnot external pressure.
Just as overhyped projects like ZKJ Token crashed due to unmet expectations, Pi Network risks a similar fate if it doesn’t start delivering substance soon.
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