Tag: Project Updates

Pi Network Enhances Staking Feature Amidst Community Scrutiny

Despite facing community skepticism regarding product longevity, the Pi Network team is actively pursuing enhancements to its ecosystem, rolling out new updates and features. The latest development, unveiled recently, centers on staking, aiming to streamline and improve the user experience.

With Pi2Day, the project’s annual celebration, less than ten days away on June 28, the Pi Network team published an update on X highlighting the advantages of staking. The Ecosystem Directory Staking feature, initially launched during last year’s Pi2Day, has been revamped with a “new look and improved user experience,” according to the post.

This staking mechanism allows users to increase the visibility of their applications within the Pi community, a move intended to generate more impressions and “potentially more user traffic.” Pioneers who stake their coins can collectively back applications and services. Concurrently, developers and creators can leverage the engaged Pi Network community of over 60 million Pioneers to promote their offerings and attract new users.

The team stated that this update “prepares the feature for further utilization by developers, creators, vibe coders, and Pioneers as more apps onboard to the ecosystem.”

It is important to note that, unlike conventional cryptocurrency staking, Pi Network’s approach does not offer protocol-level rewards. However, the announcement reassured users that their “original staked amount will be returned once the staked duration has ended.”

Regardless of the significance of the ecosystem updates, the underlying asset, PI, has struggled to gain traction. The token experienced a surge to $0.30 in mid-March, fueled by anticipation of a Kraken listing. However, this momentum was short-lived, with the price rapidly declining below $0.20 within days.

A subsequent market correction in June led to further price drops, with PI falling below $0.12 to reach a new all-time low. Despite attempts at recovery, the token stalled at $0.14 earlier this week and is currently trading just above $0.13.

The token unlock schedule for the upcoming month appears less burdensome, with the average daily release of coins projected to be under 4.3 million. This reduction in selling pressure could potentially aid PI’s recovery, particularly if the broader market stabilizes.

Aster DEX Overhauls Tokenomics, Funneling 99% of Fees to Buybacks

Aster DEX, a decentralized exchange ranked 48th by market capitalization, has implemented a significant shift in its tokenomics, directing 99% of its platform fees towards ASTER token buybacks. This new model, which went live on June 17 at 12:00 PM UTC, also includes a one-to-one burn from reserves for every token purchased.

The exchange, supported by YZ Labs, announced the upgrade via a post on X. Under the revised framework, 99% of daily platform fees will be automatically used to repurchase ASTER tokens. These purchases will be executed through time-weighted average price (TWAP) mechanisms throughout the day and settled on the blockchain.

Crucially, each token bought back will trigger an equivalent burn from Aster’s reserves. The team’s allocation of tokens will be the first to be burned, resulting in what the exchange describes as a “198% buyback” – a 99% repurchase of tokens and a 99% burn from reserves.

However, the repurchased tokens will not be permanently removed from circulation. Instead, they will be directed to stakers, added to the protocol’s Loyalty Reward pool, which already distributes 300,000 ASTER per epoch.

The burn target is substantial. Aster DEX launched with a total supply of 8 billion tokens and aims to reduce this to 3 billion, earmarking over 60% of the supply for destruction. According to CoinGecko, the current circulating supply stands at approximately 2.68 billion tokens, with a total supply of 7.82 billion, indicating a considerable path ahead to reach the burn objective.

The announcement of the new tokenomics had an immediate market impact. ASTER’s value surged by 23%, climbing from around $0.64 to $0.79, as reported by CoinGecko. However, the token has since relinquished a portion of these gains, trading near $0.65 at the time of reporting. This price remains nearly 73% below its all-time high of $2.41, reached in September 2025.

This is not the first time Aster DEX has introduced a buyback program. In December 2025, the exchange announced a similar initiative, allocating 80% of daily fees to token repurchases. That plan involved automatic daily buys using 40% of fees, with an additional 20% to 40% held in a discretionary strategic reserve for targeted market purchases.

The December 2025 announcement also coincided with a brief price increase, with ASTER spiking 30% to $1.30, partly fueled by news that former Binance CEO Changpeng Zhao held over $2.5 million worth of the cryptocurrency. The current plan eliminates the strategic reserve component entirely, significantly increasing the allocation towards automatic buybacks, with almost all platform fee revenue now directed to this purpose.

Pi Network Updates Launchpad Testing Amidst Underlying Asset Slump

The core development team behind the Pi Network, a project that has garnered both popularity and controversy, has released a new update regarding the testing phase of its Pi Launchpad. The update introduces a brand-new test token, SLICE, while the underlying PI asset faces intensified struggles, nearing another breach of the $0.13 mark.

Last week, CryptoPotato reported that the Pi Network team had revised the participation and flow model for the Pi Launchpad. This adjustment opened the door for all users, referred to as “Pioneers,” to engage in testing the second such token, named SLICE.

To participate, users were instructed to open the Pi Launchpad within the Pi Browser, review the new test token and its associated project, select a commitment amount in Test-Pi, confirm their participation, and then interact with the Slice of Pi App to provide feedback. This initiative is scheduled to continue for another 10 days, concluding on Pi2Day, June 28.

The latest update on the testing period indicated that the initial test token provided “useful data and highlighted areas where the Launchpad experience needed improvement,” underscoring the importance of Pioneer feedback. Consequently, the revised participation flow has been streamlined to be “simpler and clearer.” The team stated that participation is now “centered around the commitment amount, which has the direct effect on token acquisition.”

Users have the flexibility to determine their Test-Pi commitment, with the Launchpad automatically calculating the corresponding ‘fair-access hold.’ Before final confirmation, Pioneers are presented with their commitment amount, hold amount, and the total.

“The goal is to make it easier to understand and use the Pi Launchpad, and preserve the intended fair-access effect of the hold,” the team explained.

Meanwhile, the non-testing token of the Pi Network ecosystem has experienced significant downturns recently. Its price fell below $0.12 on June 6, setting a new all-time low. This represented a substantial 96% decline from its peak in February 2025.

While the asset saw a rapid initial recovery, pushing towards $0.14 as broader market sentiment improved, recent events have introduced renewed uncertainty. The Federal Open Market Committee (FOMC) meeting and the subsequent press conference yesterday contributed to a slide in Bitcoin below $64,000, with many altcoins, including PI, following suit.

As of now, PI has retreated towards $0.13, marking a decline of over 3% in the past 24 hours. The token remains outside the top 50 altcoins by market capitalization, which currently stands at $1.420 billion.

Bybit to Support Secret Network Upgrade, Halting Deposits and Withdrawals Temporarily

Cryptocurrency exchange Bybit has announced its support for the upcoming Secret (SCRT) v1.25.0 network upgrade. The upgrade is scheduled to occur on June 18, 2026, at approximately 2:10 PM UTC, or at block height 25,809,000.

In preparation for a seamless transition, Bybit will temporarily suspend all deposits and withdrawals for Secret (SCRT) starting at 1:30 PM UTC on June 18, 2026.

The exchange has clarified that trading activities will remain unaffected during this period.

Bybit also noted that there will be no separate announcements regarding the resumption of deposit and withdrawal services. Users wishing to be notified when these services are back online are advised to visit the Deposit or Withdrawal page and activate the “Set Alert” function.

Further details regarding the network upgrade can be found in the official release notes.

Bybit to Support XION Network Upgrade, Halting Deposits and Withdrawals Temporarily

Cryptocurrency exchange Bybit has announced its support for the upcoming XION (XION) v30.0.0 network upgrade. The upgrade is scheduled to occur on June 17, 2026, at approximately 11:40 AM UTC, or upon reaching block height 21,889,000.

In preparation for the upgrade and to ensure a seamless transition, Bybit will temporarily suspend all XION (XION) deposits and withdrawals starting at 11:00 AM UTC on June 17, 2026.

Trading activities on the platform will remain unaffected during this period.

Bybit has stated that there will be no separate announcements regarding the resumption of deposit and withdrawal services. Users wishing to be notified when these services are back online are advised to visit the Deposit or Withdrawal page and activate the “Set Alert” function.

Further details regarding the XION network upgrade can be found in the official release notes.

Bybit to Support Axelar Network Upgrade, Halting Deposits and Withdrawals Temporarily

Cryptocurrency exchange Bybit has announced its support for the upcoming Axelar (AXL) v1.4.7 network upgrade. The upgrade is scheduled to occur on June 16, 2026, at approximately 2:30 PM UTC, or at block height 30,135,800.

To facilitate a seamless transition, Bybit will temporarily suspend all deposits and withdrawals for Axelar (AXL) starting at 1:30 PM UTC on the same day. The exchange has assured users that other trading activities will remain unaffected during this period.

Bybit also stated that no further announcements will be made regarding the resumption of deposit and withdrawal services. Users seeking to be notified when these services are back online are advised to visit the Deposit or Withdrawal page and activate the “Set Alert” function.

Further details concerning the Axelar network upgrade can be found in the official release notes.

Bybit to Support Zilliqa Network Upgrade, Halting Deposits and Withdrawals Temporarily

Cryptocurrency exchange Bybit has announced its support for the upcoming Zilliqa (ZIL) network upgrade, version v0.21.6. The upgrade is scheduled to occur around June 16, 2026, at 11:00 AM UTC, or at block height 29,108,584.

In preparation for the transition, Bybit will temporarily suspend Zilliqa (ZIL) deposits and withdrawals starting at 10:00 AM UTC on June 16, 2026. The exchange has clarified that trading activities will remain unaffected during this period.

Bybit also noted that there will be no separate announcements regarding the resumption of deposit and withdrawal services. Users wishing to be notified when these services are back online are advised to visit the Deposit or Withdrawal page and activate the “Set Alert” function.

Further information on the Zilliqa network upgrade can be found in the official release notes.

Major cryptocurrency exchanges are preparing to support network upgrades for Polygon, Kaia, and Flare, with planned service suspensions to ensure a seamless transition.

Polygon (MATIC/POL) Network Upgrade

Deposits and withdrawals for all tokens on the Polygon network are scheduled to be suspended starting at 1:30 PM UTC on April 8, 2026. Services are expected to resume once the upgraded network has been confirmed as stable, and no separate announcement will be made for the resumption. Holders of Polygon-related tokens are advised that no action is required on their part, as their assets will remain secure throughout the upgrade process.

Official resources for the Polygon network upgrade can be found at: https://github.com/0xPolygon/bor/releases/tag/v2.7.0

Kaia (KLAY) Network Upgrade

Similarly, deposits and withdrawals for all tokens on the Kaia network will be suspended from 12:30 AM UTC on April 7, 2026. The resumption of services will occur once the upgraded network is stable, without a separate announcement. Users holding Kaia-related tokens do not need to take any action, as their assets will be kept secure during the upgrade.

Official resources for the Kaia network upgrade are available at: https://github.com/kaiachain/kaia/releases/tag/v2.2.2

Flare (FLR) Network Upgrade

The Flare network will also undergo an upgrade, leading to the suspension of deposits and withdrawals for all associated tokens starting at 11:30 AM UTC on April 14, 2026. Services will be reinstated once the network stability is confirmed, and no additional announcement will be issued. Token holders on the Flare network are assured that their assets will remain secure and require no user intervention.

Official resources for the Flare network upgrade can be accessed at: https://github.com/flare-foundation/go-flare/releases/tag/v1.13.0

Important Considerations

While trading of the affected tokens will not be impacted, users are cautioned about potential risks associated with spot, margin, and derivatives trading of crypto assets. It is advisable to increase margin levels in advance to mitigate these risks.

For the security of user assets, it is strongly recommended to refrain from depositing or withdrawing these tokens during the network upgrade periods to prevent any potential loss of funds.