Pi Network Gains More Support as Huobi Offers 50% APY on Pi Deposits

Pi Network gains more support as Huobi decides to offer 50% APY on Pi Deposits after its listing of Pi coins on December 29, 2022.

Pi Network News: Users Can Earn 50% APY with Pi Deposits on Huobi

Pi Network is a novel mobile blockchain mining crypto project that allows mobile users to mine Pi coins without draining the device’s battery. Pi’s blockchain secures not only economic transactions via a mobile meritocracy system but also a full Web 3.0 experience where community developers can build blockchain decentralized applications (Dapps) for millions of users.

The project has evolved over the years with massive community interests and is now in the final stages of transition to public mainnet.‍ It has been particularly active in recent weeks due to a couple of related listing news, with the latest development being the listing of Pi coin on Huobi exchange. Furthermore, Wrapped Pi (WPI), the Pi bridge utility token, also went live on BNB chain lately, as an intended bridge between Pi Network and BNB Chain.

Huobi, the top-tier centralized exchange with over 600 coins, added PI/USDT spot trading to its list of growing markets on December 29. Days after Pi’s listing, Huobi added the token to its investment product, Huobi Earn. The exchange tweeted on January 4th that users can deposit Pi tokens and earn up to 50% Annual Percentage Yields (APY).

Huobi Earn enables users to manage their digital assets by depositing some portions of their holdings into Fixed or Flexible deposits to generate high APYs.

PI coin price surged to $305 moments after listing on Huobi but has corrected since then and is currently trading at $86.67.

While Pi is available for trading on Huobi, it is essential to note that there are still questions about its legitimacy. Pi Network’s mainnet is yet to launch and all the recent token listings have been conducted independently of the Pi Core team. The team has stated that Pi Network is not associated with PI coin listing on any exchange.

BTCC urges users to do their own research before investing in any PI coin as the network has not launched on the mainnet. In the meantime, we will keep you updated with the Pi ecosystem hype.

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