Dr Altcoin is one of the most vocal ones in the Pi Network community. Today, he weighed in on the situation around the trust the community does not have in the team.
In the meantime, the market is correcting and the Pi Coin price lost over 30% of its value in the last 24 hours, now trading below $0.90.
The trigger for both the criticism and the price drop seems to be the recent announcement of Pi Network Ventures, a new $100 million fund meant to support DApp development on the Pi ecosystem. On paper, this should be good news. But for many Pioneers, it came as a slap in the face.
After six years of mining, promoting, and building hype, users were told again and again that the launch of the open mainnet was “just around the corner.” One of the conditions for that launch was having at least 100 real, functioning Pi apps. But with the open network now live in 2025, it’s become clear that most of those apps still don’t exist.
The Pi Core Team’s Latest Move Leaves Pioneers Behind
— Dr Altcoin (@Dr_Picoin) May 15, 2025
The recent launch of Pi Network Ventures has sparked frustration across the community—and for good reason. After six years of dedication, mining, promoting, and waiting, Pioneers expected a thriving ecosystem. Instead, we… pic.twitter.com/046ayH4Ntz
Dr Altcoin pointed out that the Core Team is now using part of the $100 million fund to build the very ecosystem that was supposed to already be in place. It raises an obvious question: what happened to all the in-app ad revenue the team earned over the years? What about the hackathons that were supposedly designed to launch these apps? Where did all that effort and money go?
Another point of frustration is the referral and ambassador bonuses. Many users never received what they were promised, even though they brought in new members and stayed active. The KYC process has also been slow and inconsistent, with repeated delays since it began in 2021.
The recent price drop reflects this growing disappointment. Just days ago, Pi’s value jumped briefly after the Core Team teased a big announcement. But when the announcement turned out to be the venture fund. and not anything like a major exchange listing or a working app ecosystem – the market responded with a sharp correction.
Pioneers expected progress, not another promise. For many, this is not about impatience. It’s about accountability. The Core Team has had years to build what they said they would build. Now, after all that time, they’re asking for more trust – and using community-generated value to do the work that should have already been done.
Despite the criticism, Dr Altcoin made it clear that his frustration is directed at the Core Team, not the Pi Network project itself. He still believes the project can succeed. But he’s not alone in calling for more transparency, better communication, and real action.
Pioneers built this network. They’ve waited long enough.
Read also: Will Pi Coin Price Hit $10 Soon? Analyst Updates His Pi Network Analysis
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