Pi Network unveils new ecosystem and product updates as Kraken lists Pi coin for futures, boosting momentum with fresh dApps and recovery tools.
The ecosystem has received a significant lift with the announcement of the listing of new decentralized applications (dApps) and an update on recovery options by the Pi Network.
This occurs concurrently with Pi coin perpetual futures listing on Kraken’s platform.
Pi Network Team Has updated Recovery Options, New dApps
In a blog post, the Pi Core Team (PCT) announced the integration of five new community applications into the main net ecosystem interface.
This move has expanded the network’s offerings and reinforced its emphasis on “ecosystem and utility.”
The second update introduces a new account recovery procedure that enables community members to reset their passwords securely and efficiently.
These announcements are in response to the recent establishment of a $100 million venture capital fund to facilitate real-world applications.
According to the team, a snake game application, e-commerce applications, and applications that provide on-chain data about the Pi token are among the new applications.
These apps met the network’s standards for app quality, completeness of app functionalities, evaluation of utility, and conformance with stricter Pi ecosystem policies and guidelines, as noted.
The Pi Network team also stated that these new app listings also serve as a foundation for future developers.
They also noted that the ecosystem becomes more appealing and lucrative for community developers to construct as more applications are launched.
In the interim, the team clarified that they had implemented a new process for password resets in the second significant update.
A community member can receive a password reset link if they have established a trusted email address.
This is in addition to the current password reset methods.
The blog post stated that this supplementary option guarantees account accessibility while maintaining optimal security, as email recovery is more straightforward and cost-effective for community members.
Kraken Introduces Perpetual Futures
Crypto exchange Kraken has added Pi perpetual futures to its platform, offering up to 20x leverage, in response to the Pi Network team’s announcement.
The exchange’s futures market, which operates across 360 markets and offers over 40 collateral alternatives, will enable traders to either short or long the token.
This is a significant endorsement of the Pi coin, which is currently listed for spot trading on the leading cryptocurrency exchange, OKX.
In the interim, community members continue to anticipate a listing on other prominent crypto exchanges, including Binance, Bybit, and Coinbase.
Nevertheless, it is essential to note that Ben Zhou, the CEO of Bybit, previously stated that the exchange had no intention of listing the token and referred to the Pi Network as a fraud.
The Pi coin price currently trades at approximately $0.76, which has decreased over the past 24 hours.
Meanwhile, the trading volume has declined by more than 28%, with $180 million traded during this time.
