Pi Network Mainnet Launch Delayed: Is It a Scam?

• Pi Network has failed to deliver on its mainnet launch promise, raising the question of whether it is a scam or not.
• A recent security audit by CertiK gave Pi Network a score of 56 out of 100, with most points earned for community trust and operational resilience.
• The PI coin price rose nearly 60% ahead of Pi Day before quickly paring gains, confirming the “buy the rumor, sell the news” strategy.

Pi Network Mainnet Launch Delayed Indefinitely

Pi Network promised to launch their mainnet on Pi Day (April 14th), but as April came and went without a set date, followers began to question if the project was a scam.

Security Audit Suggests Low Security Score

Crypto security company CertiK conducted an audit of the project and found that Pi scored highest in community trust and Twitter activity placing them in top 15 percentile. Code security only scored 37 out of 100 while governance strength stood at 30 and Fundamental health at 28 out of 100.

PI Coin Price Flatlines

The platform creators shilled the coin ahead of Pi Day on March 14 which caused the PI coin price to rise nearly 60%. However, these gains were quickly pared within three days after launch day proving that “buy the rumor, sell the news” strategy was correct.

Conclusion

The lack of progress from Pi Network has raised questions about its legitimacy as well as its ability to keep up with competitors in terms of security and reliability. Furthermore, despite initial enthusiasm for their token amid hype around pi day, their price has flatlined since then making it difficult for investors to gain any value from it.

Takeaways

• Pi Network has failed to deliver on its mainnet launch promise raising questions about its legitimacy.
• Security audit by CertiK gave Pi Network a score of 56 out 100 with most points earned for Community Trust & Operational Resilience.
• PI coin price rose nearly 60% prior to pi day but quickly pared all gains confirming “buy the rumor sell news” strategy.