Pi Network Announces Important Update for Pioneers: What Changes August 24?

Starting next Monday, the popular project will update its pricing model for creating and editing applications, which aims to end the heavily subsidized 0.25 PI fee for most creators.

We will also take a look at the native token’s performance as of late, as it was rejected at $0.09 once again.

New Pricing Model

The blog post published by the Core Team explained that Pi Network charged just 0.25 PI to create an application and another 0.25 PI to edit one until now. However, the project itself covered the difference between that amount and the significantly higher actual cost of the underlying AI services.

The new system will take a different approach, as standard prices will more closely reflect those AI costs and may vary depending on the resources required for each action. Although the team claimed that it wouldn’t add a markup to the underlying AI service costs, it admitted that there’s an important exception.

Creators whose apps demonstrate real utility and usage from distinct users will remain eligible for the previous subsidized pricing. The project plans to review eligibility regularly. This means that developers who initially don’t qualify could earn the cheaper rate later if their apps start to attract more users.

The post further explained that subsidizing every app had also meant funding projects created merely for experimentation, testing, or spam. The new model removes that option as it’s designed to direct more of the resources toward applications that real people actually use.

The Pi App Studio was introduced a while back, and the project continues to expand its utility. Some of the latest updates included adding backend infrastructure and app-planning capabilities in July.

The August 24 change will essentially make it mandatory for creators to build an app that Pioneers actually use, so the Core Team can continue subsidizing development costs.

PI Stopped at $0.09

The rather dull market moves have continued over the past several days, and Pi Network’s native token is no exception. It exploded to almost $0.10 at the start of the month, where it was rejected and slipped back down to $0.09.

The bears resumed control of the market and pushed it below that level to $0.084 last week, before PI rebounded and challenged the key support-turned-resistance at $0.09. However, it was rejected once again on Friday and Saturday and now sits 4-5% below it. PI’s market cap remains well below $1 billion, making it the 69th-largest cryptocurrency by that metric.

The post Pi Network Announces Important Update for Pioneers: What Changes August 24? appeared first on CryptoPotato.

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