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Key integration of the Pi Network: whether to stabilize the price?
According to the latest report in the cryptocurrency market, Pi Network (PI) is focusing on its price stability mechanism on its blockchain. Community members recently discovered smart contract code related to Chainlink. It is worth noting that this code directly involves Pi coins. As a result of these developments, the price of Pi coins rose by 8% today, reaching $1.50. Investors still hold optimistic expectations that the price will rise to above $5.
Pi Network, is it implementing a dynamic value stability mechanism?
The smart contract code discovered by the Pi Network community is related to Chainlink and directly involves Pi coins. The code implies the implementation of a dynamic pricing mechanism. Such a mechanism aims to stabilize the value of Pi coins through automatic supply and destruction systems. If verified, this development suggests that Pi Network may implement a price stabilization mechanism to manage volatility. This mechanism is commonly used for stablecoins such as USDT and USDC, anchoring their value to assets such as the US dollar or gold. The system can create a more predictable and less volatile trading environment by ensuring price stability.
Some market analysts believe that Pi, with its fixed value, may attract more users and investors. In addition, as an algorithmic stablecoin, Pi may gain wider acceptance in daily transactions and the decentralized finance DeFi ecosystem. However, PiCoreTeam has not yet issued an official statement on the authenticity of this stability mechanism. Details on the Pi Network price stability mechanism indicate that it aims to achieve value stability through a dynamic algorithmic stabilization approach. Smart contracts associated with Chainlink will automatically manage the supply of Pi to cope with price fluctuations. The mechanism will operate as follows:
After the price falls below the target, additional Pi coins will be issued.
When the price reaches the target, the existing Pi coins will be destroyed.
What does the information point to?
According to the shared information, the fixed token name is Pi Coin, and the target price seems to be set at $314.159( per 314.159×10¹⁸) Ether. The system will balance price decreases by issuing tokens and reduce supply price increases by destroying tokens. The latest market rumors suggest that Pi Network is preparing to list on the cryptocurrency exchange Bnb. Such a listing may bring significant liquidity increase to Pi Coin and drive price appreciation. With the listing on Bnb, Pi Coin could occupy a place among the top ten cryptocurrencies by market capitalization.
The price of Pi coin has shown resistance at the $1.30 support level in the recent market volatility. Analysts point out that this is a bullish signal, indicating that Pi coin is preparing for a significant upward movement. With market sentiment gradually turning more optimistic, expectations for Pi coin to rise to $5 are also increasing.
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