The Pi Network community is taking a significant step toward financial independence, developing its decentralized exchange (DEX), PiDaoSwap.
According to social media reports, the initiative will aim to curb alleged price manipulation by external exchanges.
PiDaoSwap to Launch on the Pi Network Ecosystem
Reportedly, PiDaoSwap is in the final stages of launching a multi-functional DEX on the Pi Network mainnet. The platform will ensure that the PI coin price reflects the actual market value of the token rather than being distorted by third-party platforms.
The announcement cited price manipulation by outside entities, a malpractice that impedes Pi Network’s growth and development.
“Once completed, the Pi price will be reflected at its true value and will no longer be manipulated by current external exchanges,” Pi Network VietNames claimed.
Pi Network VietNames is a community-driven profile that shares updates, opinions, and news about Pi Network.
Although in the final stages of development, PiDaoSwap specified that it was awaiting Know Your Business (KYB) approval from the Pi core team before launching.
For now, the prospective platform has secured Twitter’s organizational verification, signaling progress in its development.
Meanwhile, Pi Network’s imminent PiDaoSwap launch comes amid escalating frustrations within the PI community. Certain platforms reportedly use bots to alter Pi’s valuation artificially, affecting community sentiment.
Similarly, there are also allegations of fake price listings by external exchanges.
A recent BeInCrypto report echoes this sentiment amid allegations of bot activity on CoinMarketCap. This fueled skepticism about centralized price tracking mechanisms on the platform.
According to Pi Network VietNames, these manipulations have severely impacted the project’s credibility and adoption.
Meanwhile, other concerns emerge regarding restrictions on using “Pi-related” branding. These are related to the intellectual property (IP) and trademark policies outlined by the Pi Network.
“As a community-driven ecosystem project under PIDao, with DAO as our core focus, would this still be prohibited? Or do we need to modify our project name and domain accordingly,” PiDaoSwap wrote.
Pi Network’s official documentation prohibits using “Pi-related” branding without approval. Therefore, this suggests modifications could be necessary before the prospected PiDaoSwap debuts.
Meanwhile, PI fell below $1 on Saturday, down by over 30% in the past week.
A lot happened this week in crypto, marking developments expected to continue shaping the industry. Important headlines came from administrative decisions, ecosystem developments, and analysts probing the market outlook.
In case you missed it, the following is a roundup of some of the most important developments in the crypto market this week.
XRP Lawsuit’s Jay Clayton Became New SDNY Attorney
“Trump’s former SEC Chair Jay Clayton has taken his position as interim US attorney for the Southern District of New York. He will serve for up to four months until confirmed by the Senate or appointed by Manhattan federal judges,” former Fox Business reporter Eleanor Terrett reported.
The move came as Democratic leaders in the Senate reportedly hinted at blocking Clayton’s nomination. Trump’s move to install him as interim could see Clayton avoid the Senate confirmation process.
Clayton is the legal expert who initially filed the longstanding legal action between the SEC and Ripple. As it happened, Clayton filed the lawsuit on December 22, 2020, and resigned the next day in what will be remembered as a “parting shot” for the agency.
Pi Network Pioneer Frustration Over Ambiguous Roadmap
Another crypto incident this week concerned Pi Network pioneers. As BeInCrypto reported, the controversial project released its Mainnet Migration Roadmap. However, it failed to impress pioneers as it lacked key details.
Specifically, several gaps sparked concerns, including failing to disclose how many Pioneers remain in the queue. Similarly, it was unable to show the network’s daily migration capacity. The absence of these figures makes it impossible for users to predict when their migration will occur.
Further, opaque criteria for node rewards and the UI’s “Transferable Balance” underestimating actual migrated amounts raised flags. Pi Network also offers no audit or error‑resolution process for users who spot mismatches in their historical mining data, exacerbating the fears.
“I thought we were mining all of these PI coins this whole time? I thought the security circles were the Consensus Mechanism. It kinda seems to me like there isn’t a blockchain, and never was one. What kind of “Blockchain protocol” would “Require” all tokens to be minted at genesis?” one community member wrote.
Pi Network (PI) price performance. Source: CoinGecko
Data on Coingecko shows PI coin was trading for $0.6539 as of this writing, up by a modest 1.1% in the last 24 hours.
Bitcoin Cycle Unfolds Noticeably Different From Previous Ones
More interestingly, BeInCrypto reported a concerning shift: this cycle is unfolding remarkably differently than the past ones post-halving.
In previous cycles, BTC price tended to rally aggressively months after the Bitcoin halving. The post-halving period saw strong upward momentum and parabolic price action.
This trend was largely driven by retail enthusiasm and speculative demand, which proved most pronounced from 2012 to 2016 and 2016 to 2020.
Things are happening differently in the current cycle. Instead of accelerating after the halving, the price surge began in October and December 2024, driven by Bitcoin ETF (exchange-traded funds) hype. This was followed by consolidation in January 2025 and a correction in late February.
PancakeSwap Announces CAKE Tokenomics Date
This week in crypto, PancakeSwap announced the official date for its CAKE tokenomics, April 23. As BeInCrypto reported, key changes included the removal of veCAKE, staking, and revenue sharing, with 5.3 million CAKE to be burned annually to curb supply.
However, there was also controversy as Cakepie DAO pushed back against veCAKE removal. Several developers and community members believe CAKE Tokenomics 3.0 will benefit the project in the long term.
“At its core, CAKE Tokenomics 3.0 defends true value and protects CAKE holders by strengthening long-term fundamentals—such as aggressively cutting emissions to accelerate deflation and sustainably grow value,” Chef Philip said.
Meanwhile, others voiced strong concerns on X (Twitter), criticizing the decision to eliminate veCAKE. Among them was Cakepie DAO, one of the largest veCAKE holders, who called it non-transparent and potentially damaging to projects built around that model.
Against this backdrop, PancakeSwap resorted to a $1.5 million CAKE compensation plan.
“PancakeSwap is willing to provide 1.5M USD in CAKE to CakePie DAO primarily used to compensate CKP Holders if CakePie DAO enables mCAKE holders to redeem 1:1 back to CAKE and opens the redemption page in a timely manner if the proposal passes. Detailed plans will be announced once the mirror proposal on CakePie is completed,” the Head Chef of PancakeSwap wrote.
Data on CoinGecko shows Pancake’s CAKE was trading for $2.12 as of this writing, up by nearly 10% in the last 24 hours.
Zora Airdrop and Token Launch Announcement
Adding to the list of the many events that happened this week in crypto, Zora Network announced that it would airdrop 1 billion ZORA tokens (10% of the total supply) on April 23. The tokens would reward early platform users across two snapshot periods.
As it happened, the crypto airdrop happened in style, sparking confusion as it lacked an official checker or claim site. Users were required to go to the contract address and check their allocations.
Speaking to BeInCrypto, Jesse Pollak, the creator of the Base blockchain, said that one must not understand anything about crypto or the underlying infrastructure before posting on Zora. He also defended the value of content coins, emphasizing their potential for creators despite volatility.
Ripple has received full approval from the Dubai Financial Services Authority (DFSA)to offer regulated crypto payments in the Dubai International Financial Centre (DIFC).
It makes Ripple the first blockchain-enabled payments provider licensed by the DFSA, significantly expanding its operations in the Middle East.
Ripple Receives Full Approval from the DFSA
This development follows Ripple’s in-principle financial services approval from the DFSA in October. With its regional headquarters in Dubai since 2020, Ripple continues strengthening its presence in a region known for its regulatory clarity and fintech-friendly environment.
The DFSA license enables Ripple to offer its global payment solutions to businesses in the UAE. This would reinforce its role as a trusted partner for financial institutions looking to leverage blockchain technology for faster and more cost-effective transactions.
“We are entering an unprecedented period of growth for the crypto industry, driven by greater regulatory clarity around the world and increasing institutional adoption. Thanks to its early leadership in creating a supportive environment for tech and crypto innovation, the UAE is exceptionally well-placed to benefit,” a press release shared with BeInCrypto read, citing Ripple CEO Brad Garlinghouse.
Indeed, Dubai has established itself as a global hub for blockchain and fintech innovation. It boasts a $400 billion international trade market. The UAE has seen growing demand from both crypto-native firms and traditional financial (TradFi) institutions looking for solutions to inefficiencies in cross-border payments. These include high fees, slow settlement times, and lack of transparency.
“Securing this DFSA license…will enable us to better serve the growing demand for faster, cheaper, and more transparent cross-border transactions in one of the world’s largest cross-border payments hubs,” Ripple’s Managing Director for the Middle East and Africa, Reece Merrick, emphasized.
In the same tone, DIFC Authority CEO, His Excellency Arif Amiri, said this milestone presents Ripple with new growth opportunities across the region and beyond. Ripple’s regulatory approval in Dubai adds to its growing list of over 60 regulatory licenses worldwide.
Despite its success in Dubai, Ripple remains embroiled in a legal battle with the US SEC (Securities and Exchange Commission). However, recent reports indicate that the case may soon be resolved. Reportedly, Ripple’s legal team is negotiating more favorable terms regarding an August 2023 district court ruling.
The ruling imposed a $125 million fine and restricted Ripple from selling XRP to institutional investors. Ripple’s team argues that the firm should not be penalized for past regulatory uncertainty. This contention is based on theSEC’s reconsideration of its enforcement stance against other crypto firms.
“…Accepting the Torres ruling as it stands would mean that Ripple is essentially agreeing to admit to wrongdoing — but now the SEC itself is seemingly unsure whether any wrongdoing occurred. There’s no real playbook for this kind of thing, which could explain why this case is taking longer to resolve than the rest,” crypto journalist Eleanor Terret reported, citing two well-placed sources.
