Wrapped Pi ($WPI) Officially Launches to Power Pi Network’s DeFi Entry

Wrapped Pi ($WPI), the wrapped version of $PI (the native crypto token of the decentralized currency project Pi Network, has gone through its official launch. As per Pi Network, the launch of Wrapped Pi denotes a landmark development for its expansion in the world of digital currencies. The platform disclosed this exclusive move in a recent post shared on its official X account.

Pi Network Unveils Wrapped Pi ($WPI) to Bolster Ecosystem Expansion in DeFi

What is Wrapped Pi? Wrapped Pi ($WPI) operates as Pi Network’s native $PI token’s wrapped version. Generally, as the core asset, $PI provides the key services on the platform, such as ecosystem utility, rewards, and transfers. However, $WPI particularly deals with the DeFi applications. It is pegged into $PI in a 1:1 ratio of collateral. In this respect, the users will always be permitted to exchange 1 $PI for 1 $WPI and vice versa. This will preserve value parity along with enabling unparalleled conversion.

Thus, $WPI’s core purpose is to enhance the usability of $PI across decentralized exchanges, lending protocols, yield farming, and the rest of the DeFi products. Additionally, this all will be carried out without compromising the Pi Network’s original version. At the moment, consumers can engage with $WPI via the official webpage (wpi.network) or Telegram application bot (t.me/wrappedpi_bot). This provides convenience in access for Pi pioneers and seasoned consumers.

Driving $PI’s DeFi Utility by Boosting Liquidity, Derivatives Trading, and Passive Earning

$WPI’s launch is anticipated to unveil exclusive opportunities for numerous Pi Network consumers across the globe who have been engaged in $PI mining via mobile devices during the last few years. The launch permits the platform to fill the closed ecosystem of $PI with the wider DeFi world. Additionally, this will allow consumers to enter worldwide liquidity, trade $PI derivatives, as well as earn passively via DeFi tools.

According to Pi Network, this token launch denotes a revolution in the use of $PI by the users. As a result of this development, $PI holders can take part in the worldwide DeFi economy, parallel to preserving the Pi Network’s underlying principles. Moreover, with this release, the $WPI token’s mining is now open, while early participants can participate and get their stake in the next big DeFi leap.