Pi Network Faces Mounting Pressure Over Opaque Tokenomics as Community Demands Answers
Mining app turned crypto hopeful Pi Network hits turbulence as users revolt over murky token details.
Where's the blockchain? Skeptics question project's legitimacy after years of 'mobile mining' promises with little to show—except a thriving grey market for IOUs that'd make Wall Street blush.
Transparency or bust: With mainnet launch perpetually 'around the corner,' the Stanford-born project risks losing its grassroots appeal unless it delivers concrete blockchain evidence. Meanwhile, Bitcoin maxis chuckle into their proof-of-work validated coffees.
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One particularly vocal user, Haifeng Chen, didn’t hold back, demanding answers from the team and accusing them of dragging out the process for years. Others joined in, with some labeling the entire project a scam, while questions surfaced about a recent transfer of over 270 million PI tokens from a foundation wallet—fueling suspicions.
Community leader James Zito, known for his work with Zito Reality, also voiced concerns. Despite being a long-time supporter and completing all migration steps himself, he acknowledged widespread complaints and called on the Pi Core Team to take responsibility. He emphasized that the situation needs to be addressed before the community’s upcoming Pi Day 2 celebration on June 28, calling for transparency and dialogue.
Echoing these sentiments, another prominent figure, Dr. Altcoin, reminded the team that Pioneers have kept the network alive through years of dedication—and it’s now up to the leadership to reciprocate with clear action and accountability.
Meanwhile, there’s growing chatter around a possible second phase of the mainnet migration. If implemented, this could provide a second chance for users who were left behind in the initial rollout and potentially help restore trust in the project. For now, however, many are left waiting, watching, and wondering when—or if—their earned Pi will ever show up.
