1. Reason for Issuance and Functionality Improvement
Pi INU, launched on the Binance Smart Chain in November 2021, has undergone various attempts and experiences, operating as an exemplary meme token project known for its reliable operations. However, being a first-generation token, it faced several issues that required improvement for the normal progression of the project. Unfortunately, due to the law that the deployed Solidity code cannot be altered, these improvements couldn't be implemented.
1-1. Incident of Wallet Deployment Hacking in the Early Stages of the Project
This incident prevented developers from accessing the issuing wallet of Pi INU, leading to three critical issues. Firstly, they couldn't prove ownership in situations where it was required. Secondly, they had to monitor the liquidity of swaps being arbitrarily removed. Thirdly, the efficient token distribution ratio was disrupted when tokens that were supposed to be centrally controlled by the foundation were released into the market. While the project's continuous advancement faced no issues, it hindered the planned compliant operations in the early stages, leading to uncontrolled market price manipulation, with continuous selling by large holders being the major cause. To address this, a feature to change administrators will be integrated.
1-2. Natural Burning of Tokens Deposited to Contract Address
Despite being a feature that could be improved through simple implementation, it was omitted due to the initial version of the source code, resulting in unfortunate incidents due to many users' mistaken deposits. To address this, a feature to withdraw from the contract address will be integrated.
1-3. Change in the Goal of Pi Network Currency Exchange as a Utility Token
Firstly, Pi Network is expected not to implement its token issuance function within its ecosystem. After the mainnet launch, swap or trading with external coins will become possible. Pi INU aims to provide 'financial benefits' to Pi network supporters, similar to what Shiba/Doge/Pepe pursue, faithfully serving its role as a meme token preferred by Pi network supporters. To achieve this, expanding the ecosystem and extending to other networks are essential.
2. Reason for Choosing the Polygon Network
The Polygon network shares many similarities with the Binance Smart Chain. Derived from Ethereum, it has an independent mainnet. Additionally, the Polygon network is developing Polygon 2.0 to prepare for the Web3 era, earning it the title of the next-generation Ethereum. With very low and fast transaction fees, there are almost no restrictions on airdrops for promotion and securing wallet numbers. A self-large-scale transfer feature will be integrated into the source code.
2-1. Reasons for Not Choosing the Ethereum Network
The high network transaction fees make it difficult for many new users to enter the network, especially when a certain user base hasn't been secured yet. Moreover, the Ethereum network is becoming increasingly heavy over time.
2-2. Reasons for Not Choosing Ethereum Layer 2 Networks
Although Arbitrum and Optimism significantly reduced network transaction fees, the number of active users is low, similar to other networks.
2-3. Reasons for Not Choosing the Solana Network
There's low relevance to both the existing Binance Smart Chain-based Pi INU and the Stellar network, which is the parent chain of the Pi network.
3. Meaning and Operation Plan of 100x
Pi INU 100x is 1/100 of the issuance volume of Pi INU, serving as a 'turbocharger' if Pi INU were an automobile engine. By significantly reducing the market circulation volume, it becomes suitable as a DEX investment-exclusive token, ensuring that derivative products do not adversely affect the primary product. Additionally, a lightweight structure ensures a faithful reflection of price changes due to buy/sell actions. It aims for the essence of meme tokens, high risk, and high returns. Maximizing liquidity through increased trading volume and activation is the goal.
Long-term, it will complement BSC Pi INU, leading to increased trading volume and price appreciation.
4. Token Issuance Volume and Distribution
Total of 31,415,926,535 tokens
-Soft locked-up volume : 85% (If unlocking is necessary, it will be announced in advance)
-Team operating use : 8% (Includes airdrops, promotions, operations, etc.)
-Initial liquidity supply for DEX : 7%