Pi Network Team Announces Two Major Updates Amid Kraken Pi Coin Listing

The Pi Network has announced the listing of new decentralized applications (dApps) and an update on recovery options, providing a major boost for the ecosystem. This comes amid crypto exchange Kraken’s listing of Pi coin perpetual futures on its platform.

Pi Network Team Announces New dApps & Recovery Options Update

In a blog post, the Pi Core Team (PCT) revealed that it has integrated five new community apps into the mainnet ecosystem interface, thereby expanding the network’s offerings and reinforcing its focus on “ecosystem and utility.”

The second update involves a new account recovery flow to help community members reset their passwords securely and efficiently. These announcements follow the recent launch of a $100 million VC fund to support real-world use cases.

According to the team, these new applications include a snake game app, e-commerce apps, and applications that provide on-chain data about the Pi token. They noted that these apps met the network’s standards for app quality, completeness of app functionalities, evaluation of utility, and compliance with stricter Pi ecosystem policies and guidelines.

Furthermore, the Pi Network team stated that these new app listings also help provide a framework for future developers. They added that as more apps go live, the ecosystem becomes more attractive and rewarding for community developers to build.

Meanwhile, for the second major update, the team elaborated that they have introduced a new flow for password resets. Now, a community member can receive a password reset link if they have set up a trusted email. This is in addition to existing password reset methods.

The blog post noted that this additional option ensures account accessibility while maintaining optimal security since email recovery is simpler and cheaper for community members.

Kraken Launches Perpetual Futures

Amid the Pi Network team’s announcement, crypto exchange Kraken has listed Pi perpetual futures on its platform with up to 20x leverage. Traders will be able to long or short the token on the exchange’s futures market, which boasts over 40 collateral options and operates across over 360 markets.

This represents a major backing for the Pi coin, which is already listed on the top crypto exchange, OKX, for spot trading. Meanwhile, community members still await a listing on other top crypto exchanges like Binance, Bybit, and Coinbase.

However, it is worth mentioning that Bybit CEO Ben Zhou once revealed that his exchange has no plans to list the token while labeling the Pi Network a scam.

At press time, the Pi coin price is trading at around $0.76, down in the last 24 hours. Meanwhile, the trading volume is also down over 28%, with $180 million traded during this period.