The post Pi Network Flags Risks in Ongoing .pi Domain Auctions appeared on BitcoinEthereumNews.com.

Crime The Pi Network team has released a detailed update on the ongoing .pi Domains Auction, emphasizing a renewed focus on utility and long-term ecosystem value. As interest and bidding activity accelerate, developers are being encouraged to look beyond domain ownership and build real-world use cases around their acquisitions. .pi Domains Auction Becomes Standalone App In a recent announcement, the team confirmed that the .pi Domains Auction is now officially available as a standalone Pi app—separated from the Pi Wallet where it initially launched. This move allows for unique updates, including real-time auction statistics and future email notifications for domain bidders. A new statistics dashboard now highlights the most active domains by price, bid count, and trend. With greater transparency, participants can monitor auction activity as it unfolds across the ecosystem. The bidding interface has also been enhanced for a smoother user experience, and access has expanded now that more users can connect their Mainnet wallets. Domain Squatting Undermines Intended Utility Despite strong engagement, the Pi Network team raised concerns about domain squatting. Many users are targeting high-profile names, brands, or common terms, hoping to resell them rather than use them in functional Web3 applications. .pi domains were designed as practical Web3 identities for merchants, developers, and creators to build storefronts, blogs, apps, and more. The team warned that excessive focus on ownership, rather than deployment, risks diluting the value and purpose of the auction. To address this, Pi Network is working on new tools to help users build functional apps more easily. Future updates will aim to rebalance the ecosystem toward practical use cases and long-term sustainability. The team emphasized that utility—not speculation—will define the true value of .pi domains in Pi’s decentralized digital economy. Author Kosta Gushterov Reporter at Coindoo Kosta has been a part of the team…

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Filed under: News - @ June 16, 2025 3:08 am