The latest push for the latest token lockup of Pie Network has triggered a wave of criticism in its community.
The August 2 announcement covered pioneers to close its PI coins in exchange for increased mining rates. It provoked a sharp backlash on social media, especially on X (East Twitter).
Pie Network Token Lockup Push
The lockup feature allows users to lock the PI ether before or after migrating on the mennet.
For the latest blog, post-migration lockup through PI wallet applies the director to promote 200% mining and for PI, which is alive on charge.
Meanwhile, pre-migration lockup, configured through the main PI app, affect future transfer balances and rewards estimates.
Once confirmed, all the lockups are binding for the selected period and cannot be undone.
PI community frustration boils
At the time of the announcement, many have become angry in the PI network community.
Users have been depicted as a declining token value, delay in individual KYC verification, and a stable migration process because the project is so true in the project.
Many people said that now locking more PIs -Clies without utility or liquidity -before and even exploitative.
PI domains and APP studios such as oatter tool emissions or inactive, desired previews remain.
This decrease of follow-up-lords has been added to concerns that this process is stalling with which users are still asking for deep commitment.
Complaints about migration queue widely. Some pioneers reports in a year despite completing all the KYC stages, stuck in an inconvenient state with large pormations of their balance.
For these users, the option to lock the PI seems irrelevant when they can ‘air fund.
Many users also criticized the silence of the core team on the roadmap updates and unresolved insects, which were forever called for more transparency and accountability before asking for user particles.
Meanwhile, many users are still unhappy that the PI network has reached a broad listing, especially on the benns.
However, beincto hosted a podcast on why a binance listing could spoil the market status for PI.
Price fall and ecosystem pressure
Backlash PI comes for a disaster period for the price of the coin. The token dropped another 11% on Saturday, one all over.
Overall, the PI coin has fallen by about 90% of its February high.
Connecting further pressure, August 160 million marks the release of unlocked tokens, the biggest monthly unlock in the history of the PI network. The couple is already like already weighing on the delicate market.
Earlier this week, the PI Network also implemented its lowest mining rate.
This step was part of its deflation emissions model, which was aimed at controlling and encouraging inflation
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