The Pi Network Turkey user base became strongly active when its token hit unprecedented low prices. On April 3 the Turkish regional office of the project which had been strong advocates since the start directly criticized the Pi Network team for abandoning project values.
The group complains developers have shifted decision-making power away from the community that built Pi Network’s platform in its early months. It stated:
“The things we once looked forward to with excitement have now become mere disappointments. What kind of conscience is it to so easily consume people’s faith and hopes? What kind of morality is it to disregard the labor, time and dreams of so many people?”
Pi Network Faces 14% Market Loss
Members express multiple issues such as the delayed open mainnet, unclear financial matters, and unclear development status of decentralized applications. The group pointed out the team could not effectively explain important details and members began to wonder if working DApps make up most of what Pi Network promotes.
The growing dissatisfaction among users exists because Pi Network hasn’t delivered business value and keeps missing important deadlines. The increasing anger among Pi Network members in Turkey drives them to leave all official Pi Network platforms and use social networks to share their complaints.
The organization takes its action further. The group states their warnings of taking action to a higher level. The protest group wants both small and general internet users to rate the mobile app with one star as part of an online movement using the hashtag #PiNetworkProtest.
The demonstrations happen during an important moment for the project development. During the previous day PI lost 14% of its market value setting its price at $0.50 which represents its lowest point since its initial listing. After reaching its peak value on February 26 the project lost 80% of its network value.
Crypto experts see the current token scattering schedule as the main reason behind the price decrease. A total quantity of 120 million PI digital tokens representing $62 million value are set to enter distribution during this month. The total supply of PI tokens now stands at 4.9 billion tokens while another 1.54 billion tokens are programmed for release through the next year.
People who do not use the Pi Network say this system has not created practical Web3 benefits despite existing as part of the platform boom. Increased skepticism about the project requires the Pi Network to fix its reputation and answer key issues from its dedicated supporters.