Transitioning Value from Pi Futures to FuturesChain
Pi Futures is being transitioned to FuturesChain, a blockchain bringing
together EVM support, cross-chain transaction, and off-chain oracles.
This page is a historical record on what FuturesChain used to be.
What is Pi Futures?
Pi Futures is the derivative of the cryptocurrency of Pi Network. It is created by a group of early miners of Pi, who understand and believe the future value of Pi Network.
This Pi is an Ethereum token and issued with an 1:1 anchor to the Pi of Pi Network. The hosted address of Pi Futures will be publicly released. So the holders can transfer, redeem, exchange Pi in almost any cryptocurrency wallet, before and after Pi Network mainnet is fully functioned. And the whole process can be openly audited.
How does the cross-chain technology work?
Both Pi Network and Ethereum are blockchains, and the interoperability is required for value transfer. So Pi Futures develop cross-chain technology.
As a new generation of blockchain, Pi Network shows the roadmap of supporting smart contracts. The decentralization, openness and programmability are the premises of building cross-chain technology. According to the recent release of the open platform and APIs of Pi Network, the value transfer between Pi and Ethereum is feasible.
Smart contracts are programs run on the blockchains, and will be written and deployed both on Pi Network and Ethereum. When the smart contract receives Pi in Pi Network, it will transfer the same amount of Pi in Ethereum to the designated address, and vice versa.
Why Pi Futures is created?
The tokenized Pi is able to work with Ethereum smart contracts, seamlessly integrate into decentralized transactions and financial services, while leveraging millions of fans and users in DeFi (decentralized finance) ecosystem.
Like the real Pi, but without the waiting of the release of Pi Network Phase III, Pi Futures is the solution for the lack of liquidity. Pi holders can trade for the value of Pi today!
What is the value of Pi Futures?
The birth of Pi Futures is not out of thin air, but based on the existing achievements of Pi Network and the tremendous efforts of the miners community.
Pi is mined on mobile phones since early 2019. Today, Pi Network has accumulated the social graph, attentions and other untapped resources of over 6 million users, in terms of Pi. Each Pi represents the time and social efforts people put into this network, day by day. So the market value of Pi Network could be over one billion US dollars, and the price of Pi would be in the range of 10–20 US dollars.
The unleash of liquidity of Pi will have immeasurable potential. We hope that Pi Futures makes Pi a financial asset that is more accessible for the general public, not just for Pi miners. So Pi holders will benefit from the liquidity of Pi Futures.
Pi Futures comes from Pi community, and will give back to the community, while injecting new vitality into the ecology of Pi Network.