The Core Team behind the project rarely stays quiet, trying to improve the broader network with new updates, features, redesigns, and anything in between.
Although these attempts generally fall short when it comes to boosting investor sentiment toward the underlying asset, there has been an evident shift in the past week or so.
Pi Joins RoboPay
The latest announcement coming from the Pi Network team outlined a partnership with RoboPay, making it a payment partner. This would allow “tens of millions of Pi users” to have access to robot services directly through the use of the asset they already hold, meaning they can spend Pi for grocery deliveries, property patrols, industrial inspections, and humanoid assistance.
RoboPay is an on-chain system built by the non-profit Fabric Foundation to let AI agents discover, hire, and pay robots autonomously.
“This partnership marks a fundamental shift in how humans are able to interact with robotics. Instead of purchasing robots themselves, users will be able to simply purchase outcomes. Physical intelligence becomes an on-demand service that is discoverable, programmable, and instantly payable through a shared economic network,” reads the announcement.
Launchpad Model
The Core Team has long claimed that it tends to approach token launches differently than other blockchain projects, which typically keep the raised funds. In contrast, Pi Network sends the committed Pi coins directly into a liquidity pool paired with the newly issued ecosystem asset.
In a recent post, they outlined the details of how this process will enhance user engagement and real application functions. More than 240,000 Pioneers participated in the distribution of the Testnet token called SLICE. According to the team, users have committed roughly 16 million Test-Pi for 10 million SLICE tokens.
The newly issued asset, which remains only in test mode and will never go to mainnet, as the team explained, is linked to the game Slice of Pi. It aims to test engagement-based bonuses and promote product utility over capital raising.
Next Protocol Version
Pi Network confirmed the completion of protocol version 25 at the end of July, and outlined August 11 as the deadline for the deployment of the next one, version 26. The team described it as a major milestone that leads to the final planned upgrade, version 27, after eight successful migrations.
Later on, they published a reminder to node operators that they have to ensure their systems are upgraded by the set deadline, otherwise risk being disconnected from the network.
PI Price Update
It was less than a month ago when the underlying asset plummeted to a new all-time low of just over $0.07. This was the culmination of consecutive breakdowns and the loss of key support levels.
The bulls finally stepped up and helped it surge to $0.10 within days. However, another rejection followed, and PI slipped below $0.09 and $0.08. This time, though, the support at $0.074 managed to contain the losses, and the asset has remained above $0.08 for the past several days.
Moreover, it jumped from under $0.083 to over $0.086 earlier today, where it was stopped and now sits inches below it. Nevertheless, it’s still 22% higher than the ATL marked in mid-July. A large portion of these gains came after the team announced the upcoming version 26.
The post Important Pi Network News and PI Token Update: August 5 appeared first on CryptoPotato.