Gate News bot message, the Pi Network team released a detailed update on the ongoing .pi domain auction, emphasizing a renewed focus on practicality and long-term ecosystem value. As interest and bidding activity accelerate, developers are encouraged to go beyond domain ownership and build real-world use cases around their acquisition.
In a recent announcement, the team confirmed that the .pi domain auction has officially launched as a standalone Pi application, separate from the originally released Pi wallet. This move will bring unique updates, including real-time auction statistics and future email notifications for domain bidders.
The new statistics center now highlights the most active domain names by price, bid count, and trends. Increased transparency allows participants to monitor auction activities across the ecosystem in real time. The bidding interface has also been enhanced, providing a smoother user experience. With more users able to connect their mainnet wallets, access has also been expanded.
Despite the high level of participation, the Pi Network team expressed concerns about domain name squatting. Many users are targeting well-known names, brands, or commonly used terms with the intention of reselling them rather than using them for actual Web3 applications.
.pi domain is designed to serve as a practical Web3 identity for merchants, developers, and creators to create storefronts, blogs, applications, etc. The team warns that excessive focus on ownership rather than deployment may undermine the value and purpose of the auction.
To address this issue, Pi Network is developing new tools to help users build functional applications more easily. Future updates will focus on rebalancing the ecosystem to align it more closely with real-world use cases and achieve long-term sustainability.
The team emphasizes that practicality (rather than speculation) will define the true value of .pi domains in Pi's decentralized digital economy.
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Pi Network warns that the ongoing .pi domain auction carries risks.
Gate News bot message, the Pi Network team released a detailed update on the ongoing .pi domain auction, emphasizing a renewed focus on practicality and long-term ecosystem value. As interest and bidding activity accelerate, developers are encouraged to go beyond domain ownership and build real-world use cases around their acquisition.
In a recent announcement, the team confirmed that the .pi domain auction has officially launched as a standalone Pi application, separate from the originally released Pi wallet. This move will bring unique updates, including real-time auction statistics and future email notifications for domain bidders.
The new statistics center now highlights the most active domain names by price, bid count, and trends. Increased transparency allows participants to monitor auction activities across the ecosystem in real time. The bidding interface has also been enhanced, providing a smoother user experience. With more users able to connect their mainnet wallets, access has also been expanded.
Despite the high level of participation, the Pi Network team expressed concerns about domain name squatting. Many users are targeting well-known names, brands, or commonly used terms with the intention of reselling them rather than using them for actual Web3 applications.
.pi domain is designed to serve as a practical Web3 identity for merchants, developers, and creators to create storefronts, blogs, applications, etc. The team warns that excessive focus on ownership rather than deployment may undermine the value and purpose of the auction.
To address this issue, Pi Network is developing new tools to help users build functional applications more easily. Future updates will focus on rebalancing the ecosystem to align it more closely with real-world use cases and achieve long-term sustainability.
The team emphasizes that practicality (rather than speculation) will define the true value of .pi domains in Pi's decentralized digital economy.
Source: Coindoo