Wrapped Pi
Crypto Overview
Overview
Wrapped Pi (WPI) is a wrapped version of the Pi Network's native token, designed to make Pi tradeable on external exchanges while the main Pi Network remains in its closed mainnet phase. The token aims to provide liquidity and trading capabilities for Pi Network participants before the full mainnet launch.
Purpose and Utility
The stated purpose of WPI is to serve as a bridge token allowing Pi holders to trade their assets on decentralized exchanges. However, there is significant uncertainty around this token as it is not officially endorsed by the Pi Network core team. The actual utility appears limited to speculative trading.
Business Model and Operations
The token operates on the BNB Smart Chain, allowing for decentralized exchange trading. There is no clear revenue model beyond facilitating trades. The project does not appear to involve any inherently haram activities like interest-bearing products or gambling.
Development and Adoption
There is minimal verifiable development activity. Trading volumes are relatively low, and the project lacks significant partnerships or institutional adoption. The token's primary use case remains speculative trading on decentralized exchanges.
Token Distribution
Information about token distribution and founder holdings is limited. There is no clear evidence of vesting periods or lock-up agreements. The project's marketing presence is minimal.
Crypto Impact
To assign a comfort level investing in Wrapped Pi from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Wrapped Pi.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.