Pi Network, the Web3 app ecosystem known for its cryptocurrency mining community, has unveiled Staked Direct Messages (Staked DMs) on the Pi Chat app. The initiative is set to deepen the utility of Pi cryptocurrency, offering a unique experience for Pioneers (Pi Network members) and potential users worldwide, the company said in a press statement.
Originally launched in 2019 as Pi Network’s primary chat functionality, Pi Chats quickly became the preferred method for Pioneers to engage in open discussions. Recognizing the growing need for direct messaging capabilities, the Core Team at Pi Network has responded with Staked DMs, providing Pioneers with the ability to initiate direct conversations by staking their Pi cryptocurrency.
Pi Network’s approach involves leveraging cryptoeconomics to address challenges in Web2 online communications. Following the success of Fireside Forum, a Web3 social app introduced in May, Pi Network continues to pioneer a novel token economics model powered by Pi cryptocurrency. Fireside Forum incentivizes positive interactions with token rewards and discourages negative ones with token penalties, optimizing the online social experience.
Dr. Chengdiao Fan, Co-Founder and Head of Product at Pi Network, emphasized the platform’s commitment to transforming online experiences and fostering authentic social exchanges. The introduction of Staked DMs in Pi Chats aims to promote meaningful connections while tackling the issue of direct messaging spam—a common problem in Web2 platforms.
While Fireside Forum focused on positive content interactions, the Staked DMs feature in Pi Chat addresses access permission, introducing a staking mechanism to encourage genuine connections. Unlike traditional social media platforms with opaque access controls and spam issues, Pi Chats’ latest feature levels the playing field by providing a decentralized messaging system that discourages spam and information overload, allowing users to form connections more organically.
Pi Network’s Staked DMs empowers users to connect authentically, laying the foundation for more complex social interactions, such as group chats and channels for Pioneers, external parties, and projects to collaborate and grow at scale. This crypto-fueled system for social access not only transforms direct messaging but sets a precedent for a distributed social access mechanism network.
