- Pi Network reiterated that Pi is currently in the “Enclosed Network”.
- It added that the recent attempts by the exchanges including Huobi to enlist Pi were carried out without the consent of the Pi Network.
- The platform recommended the Pioneers not to involve in deals with such unauthorized third parties.
The new cryptocurrency project, Pi Network, updated its official page, reiterating that Pi, the native token of the platform, is at present in the “Enclosed Network”. The platform added that the network does not approve the coin for “listing on any exchange or for trading”.
Notably, the platform stressed the topic mainly based on the recent attempts by many unauthorized third part exchanges to list Pi or tokens purporting to be Pi, without the consent or involvement of Pi Network.
Previously, on December 29, the crypto exchange company, Huobi, announced the listing of Pi, following which the token price surged 461.3% from $44.03 to $232.97 within 24 hours.
However, Pi Network assured that the platform has not been involved in any of the purported postings of listings. In addition, the platform put forward some suggestions to the users to assure the security of transactions and related activities.
In addition, the platform tweeted that the “Pioneers” could sustain substantial loss by participating in unauthorized listings”:
Further, Pi Network recommended that users should not enter into any deals with unauthorized third parties:
Pi Network is also requesting these posts and exchange listings removed, and evaluating additional actions with respect to the third parties and exchanges. In the interim, it is important to reiterate that the transaction of Pi through an exchange is explicitly prohibited during the Enclosed Mainnet period, and doing so would be a violation of Pi’s policies.
Significantly, as per the network’s detailing, the Enclosed Network, which focuses on building ecosystem utilities and achieving mass KYC/migration is essential to build a viable ecosystem before the launch of the open mainnet.