The Pi Network community is taking an important step towards financial independence, developing its own decentralized exchange (DEX), PiDaoSwap.

According to social media reports, this initiative aims to limit price manipulation allegedly caused by external exchanges.

PiDaoSwap Launches on Pi Network Ecosystem

PiDaoSwap is reportedly in its final stage of launching a multi-functional DEX on the Primary Network of Pi Network. The platform will ensure that the price of PI coin reflects its actual token value instead of being distorted by third-party platforms.

The announcement mentioned price manipulation by external entities, a misconduct that hinders Pi Network's development.

"When completed, Pi's price will be accurately reflected and no longer manipulated by current external exchanges," Pi Network VietNames declared.

Pi Network VietNames is a community-managed profile sharing updates, opinions, and news about Pi Network.

Although in the final development stage, PiDaoSwap says they are awaiting Know Your Business (KYB) approval from Pi's core team before launching.

Currently, this potential platform has received organizational verification from Twitter, indicating progress in its development.

Meanwhile, Pi Network's PiDaoSwap launch occurs amid increasing disappointment in the PI community. Some platforms are allegedly using bots to artificially change Pi's value, affecting community sentiment.

Similarly, there are allegations of fake price listings by external exchanges.

A recent BeInCrypto report also reflected this sentiment in the context of bot activity allegations on CoinMarketCap. This has raised doubts about centralized price tracking mechanisms on the platform.

According to Pi Network VietNames, these manipulations have seriously affected the project's reputation and acceptance.

Meanwhile, Binance continues to avoid listing PI coin. Despite community support, the decision to list Pi Coin on Binance remains unresolved, leading to fan community disappointment.

Limitations on Pi-Related Branding

Meanwhile, other concerns have emerged regarding restrictions on using "Pi-related" branding. These relate to the Intellectual Property (IP) and trademark policies introduced by Pi Network.

"As a community-driven ecosystem project under PIDao, with DAO as our primary focus, would this still be prohibited? Or do we need to change the project and domain names accordingly," PiDaoSwap wrote.

Pi Network's official documentation prohibits using "Pi-related" branding without approval. Therefore, this suggests potential changes may be necessary before PiDaoSwap's launch.

Meanwhile, PI has dropped below $1 on Saturday, declining over 30% in the past week.